Expand to the Southwestern U.S. Tech Hub: Greater Phoenix
Greater Phoenix is fast-paced, dynamic and possesses an unapologetic willingness to get things done, making it one of the top cities to do business. It has a pioneering spirit and welcoming attitude toward people and business.
GPEC Team at CES 2022
We Can Help You Expand
At the Greater Phoenix Economic Council, we provide complimentary, confidential, expert support to companies who are interested in evaluating the Greater Phoenix market for their business expansion plans and our regional partners can help you get connected to the right resources.
As you plan your expansion and relocation strategies, we can assist with due diligence efforts including labor and economic impact data and analytics, streamlined real estate searches, and connectivity to decision-makers.
Greater Phoenix: By the Numbers
Greater Phoenix is a young, rapidly growing tech hub — it’s affordable, unsaturated and driven by innovation.
The ecosystem of local innovators, founders, incubators, accelerators and investors grows each day. For example, $1.6 billion in venture capital was raised by local companies in the last decade, but 33% of it ($546.5 million) was raised in 2020 alone.
5G and Internet of Things (IoT) Ecosystem
In 2019, Greater Phoenix becomes one of the first cities in the nation to adopt 5G.
Forecasts estimate that by 2030, there will be 125 billion installed IoT devices worldwide.
Greater Phoenix is home to 22,203 semiconductor and other electronic component manufacturing jobs.
Product Design & Manufacturing Ecosystem
More than 35 million consumers can be served within a single day’s truck haul.
Greater Phoenix offers operational costs up to 36% lower than California.
Shipping costs to California are up to 75% cheaper than other Mountain West markets.
Autonomous & Electric Vehicles Ecosystem
Greater Phoenix is home to the nation’s largest engineering school with nearly 25,000 students enrolled in various programs and more than 4,500 of them graduating with a degree each year.
The “Passenger Economy” is projected to grow to $7T by 2050.
In 2018, Arizona Governor signed an executive order creating the Institute for Automated Mobility (IAM) in partnership with public and private organizations that collaborate state-of-the-art research in Arizona.
Biomedical & Wearable Ecosystem
There are more than 4,400 active clinical trials in Greater Phoenix.
Projected employment growth in the healthcare & biomedical industries over the next decade is 30.1%, compared to 16.7% nationally.
The global wearable market is projected to grow 15.9% annually from 2020 to 2027.
The global blockchain market is expected to be worth $24B in 2024.
The average investment in blockchain projects was $4.4M in 2020.
Global blockchain companies have invested $23.2M since 2016.
Robotics & Machine Intelligence Ecosystem
In the last five years, software employment in Greater Phoenix has increased by 20%.
In 2020, Greater Phoenix had nearly 77,000 workers in computer occupations employed, representing a deep knowledge and skills pool necessary for innovation.
$1.2B in venture capital funding went to companies based in Greater Phoenix from 2015-2020.