Phoenix Economy Takes Flight

By Liviu Oltean, Associate Editor

The Valley of the Sun is set for an economic boon next year as the Greater Phoenix Economic Council (GPEC) announced that it has managed to help more than 30 companies expand throughout the fiscal year ending June 30th.

These companies are expected to add more than 6,200 jobs during their first year of operations, more than half of which will be high-income, with an average salary of almost $70,000. The firms that have moved recently in the Valley are varied and span across multiple industries such as tech, financial services and manufacturing:

• Zenefits is a tech company that automates and eliminates time-consuming paperwork for small and medium-sized businesses. The firm leased 94,000 square feet of space in the Scottsdale Galleria Corporate Center, which marks the largest expansion from a California-based tech company since PayPal’s relocation in 2010.
• Northern Trust announced its expansion in Tempe at the beginning of 2015 by unveiling plans to open a new center, which is expected to house over 1,000 full-time employees over the next three years.
• IRIS USA is a manufacturer and distributor of consumer plastics and a subsidiary of Sendai, Japan-based IRIS Ohyama Inc. The firm announced its expansion in Surprise, Ariz., where it will occupy a 280,000-square-foot, mixed-use facility.

“This year we saw an increase in the number of high-quality, high-wage jobs GPEC is bringing to the region,” Chris Camacho, president & CEO of GPEC, said in a prepared statement. “Our communities’ mayors and their economic development teams do a tremendous job showcasing the business-friendly climate and deep talent pool that makes Greater Phoenix a top choice among leading companies to grow their operations.”