Maricopa County tops economic development list

(The Center Square) – Rankings and data continue to show that Maricopa County is a boon for economic development in recent years.

Site Selection magazine ranked the county first in the United States for economic development, as they evaluated investments, jobs created and the overall amount of projects from early 2023 to spring 2024 and gave total points to different counties. Although Maricopa County was the highest, Harris County, Texas, which holds Houston, was close behind. Franklin County, Ohio, which holds Columbus, and Fulton County, Georgia, which contains Atlanta, were in the top as well.

“Maricopa County’s top spot on this year’s ranking is a testament to the talent of Greater Phoenix’s economic development community and the decades of intentional planning that has brought us to this point,” Chris Camacho, president and CEO of Greater Phoenix Economic Council, told The Center Square in a statement. “This recognition is deepened by the variety of impactful, cutting-edge industries choosing the county owing to a strong network of workforce development which is proof of effective, smart growth that brings long-term benefits to businesses and residents alike.”

Meanwhile, the Arizona Chamber of Commerce and Industry credited the Arizona Commerce Authority for helping boost growth in the state, as the agency has played a major role in getting businesses to the state as opposed to nearby competitors Texas and California.

The ACA was recently continued after some opposition in the legislature related to the legality of some of its practices to entice businesses. An Auditor General report raised questions about buying Super Bowl tickets for a CEO forum. Attorney General Kris Mayes later said that the purchases violated the state's gift clause , which prompted disagreement from Gov. Katie Hobbs in January.

Some regulations were added to prevent the ACA from allegedly breaking the gift clause in the future, and it will be around until at least 2029.

“This ranking is a testament to the success of the Arizona Commerce Authority, which has proven to be the country’s leading statewide economic development agency,” Danny Seiden, president and CEO of the organization, told The Center Square in a statement. “Lawmakers and the governor deserve credit for extending the ACA for another five years and ensuring that it and economic development agencies across the state have the tools to attract more good, high-paying jobs. Our region is well positioned for continued growth as long as we keep up the momentum and pursue public policy that enhances our competitiveness.”

The development goes beyond just businesses chasing to set up shape in the state. The Center Square reported that rapid population growth in Arizona contributed $3.7 billion to the state’s gross income, according to Internal Revenue Service data from 2021 to 2022. Notably, the state gained a net of 36,841 people, and more people are choosing to come to the Grand Canyon State rather than move for California.