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Economy

Phoenix Economy

Tourism is an especially vital part of the Phoenix and Arizona economy. There are more than 10 million visitors throughout the United States and Canada visiting Arizona annually.  Phoenix offers warm weather, sunshine and amazing venues throughout the state and Greater Phoenix.  We continue to grow and be an important resort center for the state.

Manufacturing and tourism are traditionally the base of the Phoenix economy.  They continue to be important to the growth and job sectors throughout Phoenix.  There are major industrial products manufactured by companies located in the Phoenix metropolitan area. Some of those include; agricultural chemicals, radios, air-conditioning equipment, aircraft parts, leather goods, electronic equipment and native American crafts.

Economic and Population growth have made Phoenix the center of the Arizona's economy. More than a one-third of the state’s entire work force is in the Greater Phoenix area. Furthermore, several Fortune 500 companies call Phoenix home.  Some of those include; Boeing, Time Warner Telecom, IBM, Bank of America, Intel and Dial.

The Population boom and Phoenix economy have taken on new values in recent decades.  The population is moving into the service and technology industries. Tourism and business services also account for three-quarters of the Phoenix area’s total employment. Another area of growth has been financial services and banking.  Several significant processing and/or regional headquarters operations call Phoenix home.  They include; Bank of America, Discover Card Services, American Express, Wells Fargo Bank and Chase Bank.  Aerospace and technology firms also hold a considerable share of the total manufacturing jobs throughout the Phoenix and the state.