3 Reasons why international companies thrive in Greater Phoenix
How do international companies scale and access a new customer base? A great strategy many companies have found success with is expanding their operations abroad.
Companies like Kudelski Security and Acronis are two examples of businesses that have expanded to Greater Phoenix, United States and found success. This region presents incredible opportunities for international companies looking to relocate or expand and offers programs to reduce the challenges of business expansion by providing a soft landing to the market.
Here are the top three reasons why Greater Phoenix is a preferred location for international companies:
- Abundance of business resources
Relocating a firm’s operations can be a stressful move as it involves different hurdles that international firms have to overcome. To alleviate some of the stress involved in relocating, Greater Phoenix offers a low-risk, expert guided, soft-landing platform to do business in the U.S. through our Global Growth Accelerator.
The Global Growth Accelerator offers participants three months complimentary office space, access to our regional labor market data, state and local regulatory authorities, and other services. This, among other resources, allows businesses to focus on their operations while growing their business.
- Location near other top markets
Choosing the right location for your business to flourish can be a complicated decision for many companies. Greater Phoenix is a prime location, having neighboring or nearby states with large consumer markets like California, Texas and the country of Mexico. Current firms in Greater Phoenix benefit from the advantages that California lacks such as lower operating costs and an affordable cost of living. Over the past decade, California has increased its corporate and residential taxes. Meanwhile, Arizona has lowered these same taxes, creating a more business-friendly market.
Greater Phoenix benefits from the talent migration from California, as well as access to robust supply chain and international trade opportunities with its southern neighbor, Mexico. Recently announced, SkyBridge Arizona, which is set to operate out of Phoenix-Mesa Gateway Airport, will be the nation’s first international air cargo hub to house both Mexican and United States customs. The service will enable companies conducting business in Latin America to transport goods more efficiently, limiting freight time from weeks to days and setting Greater Phoenix at an operational advantage.
- Educated workforce
One of the main reasons to scale a business abroad is for the opportunity to tap into a new pool of quality talent. While some markets have become over-saturated and too competitive, Greater Phoenix has an ecosystem of innovative institutions that are educating the talent of tomorrow.
Arizona State University is touted as the most innovative university by U.S. New and World Reports four years in a row. This university also surpassed 71,000 on-campus student enrollments in April of 2019 and 66% of ASU undergraduates remain in Arizona after graduation. Along with other institutions including the University of Arizona, Grand Canyon University, University of Phoenix, and Maricopa Community College, the nation’s largest community college network, there is a steady pipeline of qualified students in Greater Phoenix. This is a great asset for international companies relocating to Greater Phoenix as there is an abundance of talent with technical backgrounds and necessary market knowledge.
As technology and competition increase in the global market, firms wanting to scale should choose the right location that allows them to focus on their operations while growing their business. Greater Phoenix offers the right resources, is surrounded by other top markets and has a talented workforce to grow businesses in the U.S.
Find out more about the foreign owned firms in Greater Phoenix and how to expand to the region here.
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