In January news broke that the computer chip shortages cost the U.S. economy $240 billion in 2021. The shortage heavily affected the auto industry, costing manufacturers $210 billion in revenue as cars sat in lots waiting for chips to be installed. Beyond vehicles, semiconductors are a vital piece of the economy, being used in everything from computers,
Throughout 2021, Arizona continued to create an economic environment that promotes business growth and expands opportunities for all. Companies large and small moved to Arizona, and businesses already in the state grew their operations. Smart policies led to families and businesses keeping more of their hard-earned money. Arizona’s year-end job numbers demonstrate the success of
More than 700,000 jobs will be created in Arizona in the next decade, another sign of Arizona’s economic prowess coming out of the pandemic. According to a new report from the Arizona Office of Economic Opportunity (OEO), which studies the state’s economy and labor market trends, the state’s robust economic growth will far exceed the nation as
Governor Doug Ducey highlighted Arizona’s economic momentum and workforce development during a National Governors Association Workforce Symposium discussion with Bill McBride, executive director of the association. Arizona had some of the strongest economic momentum in the country last year, and has been able to maintain it throughout the pandemic recovery. We have been a leading
Arizona Expected To Grow Jobs 4X Faster Than U.S. The Arizona Office of Economic Opportunity is projecting the state will add more than half a million jobs over the next eight years, continuing a surge in economic growth. “Arizona has become a jobs magnet,” said Governor Doug Ducey. “Not only are jobs booming, wages are rising
Governor Doug Ducey proclaimed April 2021 to be ‘Made In Arizona’ Month to highlight the diverse manufacturers of all sizes that call Arizona home and to encourage Arizonans to buy homegrown products. “An incredible range of products are made right here in Arizona,” said Governor Ducey. “From food items like tortillas and prickly pear jelly