With a population of almost 1.4 million, Phoenix has grown to be the fifth largest city in the United States. The city also boasts the largest concentration of corporate headquarters in the area. Phoenix is one of the fastest growing cities in the U.S. and attracts workers from across the country due to its climate, quality of life and economic opportunities. The availability of such a diverse labor force is a big selling point for expanding firms looking to relocate.
There are 138 Fortune 500 companies that have a presence in the Phoenix area. Among them are Intel, Boeing, Wells Fargo, J.P. Morgan Chase, AT&T, IBM, Hewlett-Packard, Microsoft, Citigroup, MetLife, Morgan Stanley and American Express.
What does this mean to the average Phoenix resident? It signifies the availability of a large concentration of employment possibilities with reliable firms. In 2006, of the 49 metropolitan areas with a population of one million or more, Phoenix, Mesa and Scottsdale boasted the 2nd lowest unemployment rates with 3.2 percent each.
This also ensures the metropolitan area will be well tended to. Phoenix is host to some high profile clientele, and it is imperative that the downtown and surrounding area remain a desirable place to work and live. Here are some of their plans as of this fall (2007):
Even with the additional traffic in the downtown core, Phoenix is still ranked as the safest city with more than one million people in the U.S. This ranking also trickles down to many of the suburbs that are listed among the top 100 safest cities.