01 Overview
02 Talent Pipeline
03 Industry Ecosystem
04 Labor Analysis
05 Operating Cost Analysis
06 Quality of Life

Invest in success in

Greater Phoenix

A top hub in the nation for the finance & insurance industry


Greater Phoenix is a top market in the nation to locate, relocate or expand your finance and insurance business operations. In fact, the region’s finance and insurance sector is one of the largest in the nation.


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Cost Analysis


Greater Phoenix is exceptionally positioned to absorb both new-to-market finance and insurance companies, and expansion of the existing cluster.

Value Proposition

Exceptional Talent Pipeline

With local program graduates among the most highly sought after nationally by recruiters, Greater Phoenix is making the case as one of the top financial cities offering a distinctly specialized workforce making this an attractive region to relocate or start your finance and insurance company.


Greater Phoenix offers consistent and reliable internet and power coverage. With new freeways and rail to connect workforce and companies efficiently as well as access to a leading domestic and international airport, this region was designed for finance business relocation success.

Competitive Operating Costs

In addition to affordable real estate and benefit costs to peer markets, Greater Phoenix also provides a number of quality insurance company relocation incentives to further decrease your business’s operating costs.

Educated Workforce

Specialized programs are prominent at universities across the state to train top talent. There is a great deal of university alignment in place along with partnerships to match talent to employers looking to start a finance business or relocate their insurance company.

Large Existing Cluster

Greater Phoenix is the sixth largest finance & insurance cluster in the United States, indicating a higher industry concentration and specialization. The region also has the largest location quotient of any top-25 finance & insurance market.


Talent Pipeline

Greater Phoenix boasts competitive non-distance program completions at colleges and universities in the concentrations of accounting, finance, economics, mathematics and customer service related degrees.

Greater Phoenix Talent Pipeline

Greater Phoenix’s education pipeline is nearly double the size of Charlotte’s and Salt Lake City’s. Many recent locates in these industries enjoy easy hiring thanks to a quality workforce pipeline and the region’s excellent quality of life driving additional talent to choose to relocate to the region. Arizona’s institutions of higher education are training the finance & insurance workforce of the future via innovative partnerships and high-quality programs.

Notable Programs in Finance and Insurance - Related Fields

Competitive Programs

In a competitor markets’ talent pipeline analysis, Greater Phoenix has become one of the top finance and insurance cities and pulled ahead of popular cities like Salt Lake City and Charlotte in total degree completions for finance and insurance-related programs.

  • Arizona State University has been named the #1 Most Innovative School in 2016, 2017, 2018, and 2019 by U.S. News & World Report as well as the top 1% of the world’s most prestigious universities by Time of Higher Education.
  • The University of Arizona was named the #1 Public Management Information System program by U.S. News & World Report.

Industry Ecosystem

Greater Phoenix is a top market by employment in this sector and has strong numbers to reinforce that statement. This market demonstrates competitive advantages for finance and insurance in non-workforce dimensions, especially in comparing operating costs.

Arizona Ecosystem

The Greater Phoenix region is home to a number of companies producing disruptive technology in the finance and insurance space. The region is able to support local startups and recent transplants which has resulted in an increase of finance company relocation to Greater Phoenix.

Location Quotient, or LQ, is a measure of market specialization in an industry by comparing the share of that market’s employment in an industry to the national proportion of that industry’s employment. For example, Phoenix’s LQ of 1.71 indicates that the market has 71% higher concentration of the finance & insurance cluster than the nation as a whole.



FinTech Sandbox

In March of 2018, Governor Doug Ducey signed House Bill 2434 into law making Arizona the first state in the nation to enact a groundbreaking regulatory FinTech “sandbox.” Arizona joins countries such as the United Kingdom, Singapore, United Arab Emirates and Australia in encouraging FinTech investment by instituting sandboxes encouraging business owners and entrepreneurs to relocate and start their finance and insurance company in the Greater Phoenix region.

In Arizona’s sandbox, startups, entrepreneurs and even established companies can launch products on a limited, temporary scale to consumers to test innovative products, services, business models, and delivery mechanisms in the real market without incurring regulatory costs and burdens that would otherwise be imposed. This makes the Greater Phoenix area one of the top financial cities in the country and, also, an attractive opportunity for movers and shakers looking to start an insurance business or relocate their finance company.


Finance Operations in Greater Phoenix

Greater Phoenix is home to a dynamic and growing finance and insurance cluster. Many of the finance sector’s leading firms have a significant presence in Greater Phoenix.

Insurance Operations in Greater Phoenix

Greater Phoenix is home to a vibrant finance and insurance cluster. Many national leaders have significant employment and multiple internal units operating in the region.

Banne Health
Honeywell Aerospace

Labor Analysis

Greater Phoenix has a robust supply of human capital to ensure all available positions are filled quickly with top talent making the region very attractive to relocate or start your finance and insurance company.

Labor Costs

Median wages in Metro Phoenix are generally lower than peer markets like Charlotte and Dallas. Phoenix also has a larger workforce than markets like Salt Lake City.

Scroll to the side to see how Greater Phoenix stacks up against other cities in terms of median wages for finance and insurance operations.

Occupation Phoenix Charlotte Dallas Salt Lake City
Customer service representatives $33,862 $35,152 $34,466 $33,634
First-line supervisors of office & administrative support workers $51,979 $56,368 $59,010 $52,333
Bookkeeping, accounting, & auditing clerks $40,186 $40,352 $42,744 $38,459
Accountants & auditors $66,102 $76,086 $76,419 $64,605
Receptionists & information clerks $29,598 $27,768 $28,101 $28,746
Insurance sales agents $46,613 $58,531 $59,197 $38,813
Software developers, applications $100,755 $105,726 $111,197 $100,734
Computer systems analysts $89,066 $92,997 $91,998 $76,877
Financial managers $108,202 $145,267 $140,566 $101,795
Claims adjusters, examiners & investigators $58,323 $65,978 $69,035 $57,574
Loan officers $53,976 $66,394 $69,514 $43,534
Software developers, applications $98,904 $105,206 $110,198 $105,622
Securities, commodities and financial services sales agents $51,709 $69,805 $60,424 $57,616
Loan interviewers & clerks $41,434 $42,307 $45,427 $39,645
Administrative services managers $82,846 $103,834 $96,637 $77,875
Computer & information systems managers $135,554 $135,054 $150,238 $113,402
Insurance claims & policy processing clerks $40,747 $42,744 $40,082 $37,502
Financial analysts $74,318 $85,675 $85,218 $70,304
Personal financial advisors $78,936 $112,486 $111,925 $68,162
Credit counselors $42,14138 $45,843 $45,739 $37,398
Credit analysts $55,744 $74,214 $73,736 $67,704

Operating Cost Analysis

Greater Phoenix has the lowest annual operating cost for finance and insurance operations among competitor markets. Despite having one of the largest talent pools among peer markets, the region has low employee payroll costs due to the region’s low cost of living and affordable housing.

The Annual Business Operating Cost Analysis below has been prepared using the following parameters as an estimate for finance and insurance operations in competitor markets. Component and custom analyses to match your company’s operations can be provided upon request.



  • $10,000,000 personal property investment
  • 100,000 square foot Central Business District Office, Lease
  • Utilities (per month): Included in lease
  • 350 jobs (Bureau of Labor Statistics equivalent occupations)
Occupations Employment
Customer service representatives 100
Financial analysts 100
Loan officers 25
Credit analysts 25
Information security analysts 25
Software developers, applications 25
Web developers 15
Office clerks, general 10
Software developers, systems software 10
Human resources specialists 5
Network & computer systems administrators 5
Computer & information systems managers 3
General & operations managers 2
Total 350

Operating Cost & Total Industry Jobs


Statutory Incentives

Even with the highly competitive tax environment in Greater Phoenix and Arizona, there are a number of tax incentives that can be utilized to mitigate operating costs. It should be noted that this is only a guide for potential incentives.


Arizona Competes Funds

  • Discretionary funds that can be used to attract, expand and retain Arizona enterprises


Quality Jobs Tax Credit

  • $9,000 of corporate income tax credits per job, spread over 3 years
  • Capped at 10,000 jobs per year
  • Four tiers of qualification that all require at least 65% of benefits packaged covered by employer


Qualified Facilities Refundable Tax Credit

  • Targets aerospace, biomedical, science, and technology and high-tech manufacturing sectors for manufacturing, R&D, and manufacturer HQ functions
  • Lesser of 10% of capital investment or $20,000 per job per phase (phase determined by client)
  • Requires wages of greater than 125% of the state median wage for production occupations ($46,690) in urban areas, and above the median wage in rural areas ($44,346)
  • Minimum investment of $250,000

Companies in Greater Phoenix

  • Aetna
  • Allstate
  • American Express
  • Bank of America
  • Charles Schwab
  • Chase Bank
  • Discover
  • Edward Jones
  • Humana
  • Liberty Mutual
  • Nationwide
  • Progressive
  • State Farm
  • United Healthcare
  • Vanguard
  • Wells Fargo

Want to see a full list of companies in Greater Phoenix? Download the complete report.

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