Phoenix Business Community is Stong and Growing
Phoenix’s Business Community
Phoenix is also home to a thriving business community, with major private sector employers calling the city home, as well as corporate and regional headquarters for such well-known Fortune 500 companies as Avnet, Freeport-McMoran, US Airways Group, Republic Services and PetSmart. Fortune 1000 companies that call the Phoenix area home include Insight Enterprises, Apollo Group, Pinnacle West Capital Corporation, Amkor Tehnology, First Solar and ON Semiconductor. In addition, some 84 other major corporations have significant operations in the Phoenix metro area, including Intel, U-Haul International, Honeywell, and Boeing, to name a few.
Phoenix is also among the nation’s fastest-growing regions and has been recognized for strong job growth and entrepreneurial environment, especially for aerospace, high-tech and bioscience companies. Not surprisingly, the local job market continues to grow at a steady rate. As of 2010, the Associated Press noted that Phoenix was number four on its list of major cities in the nation that were, “the largest generators of net jobs.” The city also sported an unemployment rate below the national average of 9.4 percent.
Besides a flourishing corporate business culture, Phoenix is also tops for companies and people moving to the area, ranking first among metro areas for “recruitment and attractions,” according to a 2008 report by Expansion Management magazine.
Arizona State University, the University of Phoenix, Grand Canyon University and the internationally recognized Thunderbird School of Global Management graduate school, located in nearby Glendale, also provide a talented and educated workforce and entrepreneur community.