A Blueprint for Regional Resilience and Global Competitiveness

by Chris Camacho, President & CEO, Greater Phoenix Economic Council

Greater Phoenix’s economic advantage is driven by deliberate strategy, cohesive execution and a clear focus on the future. Unlike older markets tied to historic industries and longstanding systems, our region has built its competitive edge across recent decades with a hyper focus on high-impact sectors and modern infrastructure to match.

That fresh-start advantage gives us the upper hand. We’re not burdened by antiquated framework or entrenched ideas. Instead, we’re free to build smarter, move quicker and respond to market shifts with precision. This resilience is smart growth in action.

When the world was blindsided by the COVID-19 pandemic, many regions struggled to regain footing. Greater Phoenix moved fast and recovered faster, exceeding its pre-pandemic job peak by October 2021. Conversely, the U.S. as a whole did not reach pre-COVID numbers until August 2022. Even more, by the end of 2024, Greater Phoenix had 230,000 more jobs than it did before the pandemic.

That didn’t happen by chance. It happened because our market was built on a platform of diverse, high-value industry, scalable infrastructure, and powerful regional collaboration. We’ve been deliberate in building up the talent pipeline, investing in infrastructure, and fostering innovation ecosystems that keep our market nimble and future ready.

We’ve seen a record number of companies choose Greater Phoenix in recent years, from global brands to next-gen technologies that recognize we’re a region that has been strategically built for business success, anticipates market trends, mitigates risk, and offers unmatched access to workforce, supply chains and customers. This reputation is what drew TSMC to set its U.S. roots in Greater Phoenix and expand its investment to an unprecedented $165 billion, attracting an entire ecosystem of semiconductor suppliers committed to building the future here. It’s what makes international companies pay attention when our region’s delegation of economic development, community, academic and utility partners are in a room of thousands by presenting a value proposition that’s proven and tangible.

This trust is enhanced by a workforce that is growing in size, skill and strength. Greater Phoenix is staying ahead with a sustained influx of working-age professionals building long-term roots in our region and academic adaptations to support economic and technological progress. Universities and community colleges partner with industry leaders to stay at the forefront of developments shaping the future. Arizona State University, for example, is launching the School of Medicine and Advanced Medical Engineering in 2026, designed to integrate clinical medicine, biomedical science and engineering as part of a larger initiative focused on improving health outcomes across the state.

This is the smart growth flywheel in motion: a strategic foundation attracts next-gen companies, which draw in top talent that drives innovation, growth and resiliency benefitting communities and business alike.

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This article is the latest installment of GPEC’s smart growth series that explores the strategic decisions and key components that continue to shape Greater Phoenix into a leading economy. From recovery to reinvention, we’re highlighting how economic development fuels opportunity, strengthens resilience and positions our region for long-term global success.