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A Corporate Presence in Phoenix, Arizona

By Sanjog Gopal Published 10/10/2007 | Real Estate

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):

     
  • Planning for the Phoenix "Megapolis": These are plans for a new freeway diverting east-west traffic around both Phoenix and Tucson.
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  • High-Rise Apartments for Downtown Phoenix: Completion is slated for the summer of 2008; the Council has approved a dual tower complex including 675 apartments, 120,000 square feet of office space and 20,000 square feet for shops.
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  • Amazon.com Opening Distribution Center: Watch for Amazon's  brand new, 600,000 square foot warehouse that will be employing up to 1,400 employees. This also means that Phoenix residents will get same day delivery for their online purchases from Amazon.com.
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  • Upgrades Planned for Deer Valley Airport: You can expect to see more planes taking off from the Deer Valley Airport after  130 million of improvements to the runways are completed.
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  • Mayo Clinic Hospital Expanding: Medical Services at the Mayo Clinic Hospital will be expanding by 36 beds, as well as moving the surgical doctors to the hospital from the research clinic in Scottsdale.

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.

Thinking of relocating to the Phoenix, Arizona real estate area? Contact our experienced staff about buying a home in Phoenix, Arizona for a complete review of our listings.