GPEC celebrates milestone achievement: 800 businesses expand to Greater Phoenix
When it comes to growth expectations in economic development, seeing physical change may take time to witness as new building are built and the economy grows. In just 30 years, we’ve worked tirelessly with local partners to build the regional economy and improve our competitive position, resulting in the creation of more than 130,000 jobs for Greater Phoenix residents. We are excited to announce that we have just brought our 800th business to the region, a list which includes national and international business expansions and relocations.
Considering how much Arizona has grown in the last few decades, this is an important milestone for all of us. In the 1990’s, the population of Greater Phoenix grew at an annualized rate of 3.8% and GDP grew at an annualized rate of 7.3%. Right before the peak of this growth, the Greater Phoenix Economic Council was created in 1989, with the goal to attract and grow quality businesses and advocate for the competitiveness of Greater Phoenix. Today, our population stands at 4.74 million, which is growing 1.8 % a year. As our population is increasing rapidly, it’s important that the region provides infrastructure, education, and other opportunities that are not only an improvement from the year prior but positions us as a leading market in the U.S.
Here are a few top developments that occurred in Greater Phoenix since we became an economic development organization 30 years ago:
- In 1989, the Phoenix Sky Harbor International Airport had a total passenger traffic of 20,714,059. In 2018, that number doubled to 44,943,686.
- Both the Arizona Diamondbacks and the Arizona Coyotes came to the market in the 1990s.
- Since 1990, Maricopa County alone has added more than two million people.
- Estrella Mountain Community College was established in 1992 and joined the Maricopa Community College District.
- The Arizona State University Polytechnic campus was established in 1996.
- In 2003, Maricopa officially incorporated in Arizona and became the state’s 88th city.
- Since GPEC began, the Phoenix-Mesa Gateway airport opened and Arizona has hosted three Super Bowls.
- The region now has more than 40 universities and other institutions to prepare the market’s workforce across a variety of industries.
- This year, the Valley Metro Rail turns 10 years old.
Without our regional notoriety, successes and growth, recruiting 800 businesses would not have been possible. This success is a collective win that we accomplished together, but we’re not stopping there. We are in a relentless pursuit to maintain Greater Phoenix as a growing and competitive market to improve the standard of living for everyone in this region. Find out more about how you can invest in or expand to Greater Phoenix.