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Phoenix Business Journal
Autonomous truck route leads to Phoenix
Pittsburgh-based Aurora Innovation Inc., which is running autonomous trucking technology along two routes in Texas, plans to extend one of those lines all the way to Phoenix<\p> Aurora announced it intends to expand its Fort Worth to El Paso lane to Phoenix in 2025.<\p>
Sportsbooks cash in on women’s sports betting, but at what cost?
When sportswriter Jim Turvey arrived at his in-laws for dinner, he was shocked to hear his non-sports-centric relatives discussing Chicago Sky forward Angel Reese and Indiana Fever guard Caitlin Clark.<\p> The WNBA rookies rivaled each other at LSU and Iowa in a memorable championship game in the 2023 NCAA women’s basketball tournament, with a rematch the following April that drew a women’s college basketball record of 12.3 million viewers in the women’s Elite Eight. Clark and Reese’s high-profile matchups and competition have spiked growth in women’s basketball.<\p>
Investors cautious but still interested in Phoenix apartment market
While positive economic indicators have attracted the attention of investor interest in the Arizona apartment market, they're proceeding with caution.<\p> That's because new supply is creating a softness in some submarkets, said Adam Finkel, co-founder and managing partner of Scottsdale-based Tower Capital.<\p>
My View: Life can be better for all with smart cities, IoT
Safer cities. Less pollution. Better quality of life.<\p> Since upcoming elections are front of mind, you might think I’m offering snippets of campaign promises. Actually, I’m talking about a nonpolitical type of movement designed to make everyone a winner.<\p>
NFL’s field surface dilemma still a concern as 2024 season kicks off
The NFL has always claimed that it prioritizes the health and safety of its players above everything else. Yet, as the 2024 season begins Thursday night, a topic that has concerned participants for years continues to linger. <\p> The field-surface debate seems to grow louder with each passing season, sometimes with each passing down. Gruesome lower-extremity injuries appeared to consistently transpire on synthetic turf surfaces more often than natural grass in 2023, according to data from Sharp Football Analysis. <\p>
Paradise Valley hilltop estate sells for $12 million
Sue Shapiro has mixed feelings about selling a $12 million mansion in Paradise Valley.<\p> The Russ Lyon Sotheby's International Realty Agent had the listing for a 10,656-square-foot estate at 6044 N. 44th Place over the past two years.<\p>
An inside look at TSMC's plans to grow Phoenix job pipeline
As a facilities technician apprentice for Taiwan Semiconductor Manufacturing Co., Alejandro Munoz is gaining exposure to the silicon chip industry and the various trades that support the company's high-tech factories under construction in north Phoenix. <\p> Prior to joining TSMC's apprenticeship program, Munoz had been unsure of his career trajectory. He spent a year working at Intel, gaining initial exposure to the semiconductor industry and was later hired for a contracting job with a third-party company to work at TSMC’s site.<\p>
Downtown office high-rise faces foreclosure
The fate of the iconic Heard Building, the first high-rise built in downtown Phoenix, is up in the air as the office sector continues to struggle following the Covid-19 pandemic. <\p> The owner of the Heard Building, an entity connected to national coworking operator Expansive, is in danger of losing the asset at a November foreclosure sale, according to a filing in Maricopa County. <\p>
Nine startups to pitch at ASU InvestU event
Nine startups affiliated with Arizona State University will pitch their businesses to investors from Papago Golf Club's tee boxes as part of a funding event in October.<\p> The Tee Up for Funding event, set for Oct. 1 from 2 p.m. to 8 p.m. at Papago Golf Club, features ASU-affiliated startups in various verticals, including software, medical devices, sustainability, cosmetics and electric vehicle charging.<\p>
Phoenix slips in US tech job market ranking
The Valley has slipped three spots in an annual ranking of the top 20 tech talent markets in North America, though the region's job prospects are solid, driven by an uptick in annual wages, population and university graduates, according to a report by CBRE Group Inc.<\p> CBRE's report, released Sept. 4, ranked Phoenix No. 18 for tech talent among 50 markets in the U.S. and Canada, down three spots from No. 15 in 2023. Rankings for the top 50 markets were determined in part by their competitive advantages and appeal to employers and tech employees.<\p>
How ASU partners with chip companies for skilled job training
Roughly five years ago, semiconductor packaging courses attracted an average of 40 students each semester at Arizona State University’s Ira A. Fulton Schools of Engineering.<\p> That number has risen to more than 200 students per semester as ASU increases its workforce development efforts to meet growing demand for semiconductor-related jobs in Arizona.<\p>
Phoenix Mercury return to winning ways
One year ago, the Phoenix Mercury were a train wreck on an 11-game, season-ending losing skid that curtailed their consecutive postseason streak since 2012, with Diana Taurasi and other key players sidelined due to injuries.<\p> Fast forward to this month, and the organization appears reenergized following an offseason overhaul that saw only three players returning, along with the installation of a new coaching staff. The team’s energy on and off the court has improved thanks to the additions of Natasha Cloud, Rebecca Allen and Kahleah Copper, bolstered by the playoff and championship experience from the duo of Brittney Griner and Taurasi.<\p>
Why NAR lawsuit settlement outcomes may include higher home prices
The National Association of Realtors and major brokerages across the country in the past several months settled a series of class-action lawsuits around real estate commissions. But one unintended ripple effect of the settlements may include higher home prices.<\p> The settlements came before and after a jury verdict of $1.78 billion last fall against the NAR and other big brokers. The plaintiffs claimed in the lawsuit the NAR’s “participation rule” and “cooperative compensation” practices unfairly forced home sellers to pay inflated commissions to buyer agents. Plaintiffs argued a complex network of rules kept buyer broker commissions high and essentially mandated the seller offer buyer commissions.<\p>
West Valley city set to welcome three new restaurants
Peoria residents are preparing to welcome three restaurant brands making their West Valley debut as part of The Park at 83 retail development. <\p> The new $20 million project will feature popular wine bar Postino WineCafe and two well-known eateries under the Fox Restaurant Concepts LLC umbrella: modern Italian concept North Italia and Mexican eatery Blanco Cocina + Cantina. <\p>
NY real estate firm adds Arizona managing director
New York-based Rockefeller Group has brought over a local executive as its managing director to oversee development in Arizona.<\p> Brandon Dillingham, who has worked with Hines' Phoenix office for the past 11 years, was named Rockefeller's new managing director. He will oversee two build-to-rent communities in Rockefeller's pipeline and identify new development opportunities in the office, residential and industrial sectors. <\p>
Meet Scott Holman, Arizona's workforce czar
As a former human resources executive for Taiwan Semiconductor Manufacturing Co. in Arizona, Scott Holman has vast knowledge about job development and recruitment.<\p> Holman retired from TSMC and joined the Arizona Education Economic Commission (AEEC) Foundation as CEO in February. The commission is a public-private collaboration that includes more than a dozen companies in manufacturing, health care technology and defense. Holman’s goal is to spur workforce development initiatives between educational institutions and the state's growing manufacturing industry, in addition to fundraising to support the commission's endeavors.<\p>
Arizona's challenge: Filling thousands of manufacturing jobs
Headlines detailing mass layoffs and big projects pausing can be deceiving. <\p> LG Energy Solution said it was temporarily halting plans for its second battery plant in metro Phoenix this year, and about a year ago, electric vehicle maker Lucid Group Inc. announced layoffs for about 1,000 workers. <\p>
Colleges, degrees with the highest earning potential
Attending college has become unaffordable for many but some degrees or attendance at certain higher-education institutions may still offer significant earning potential.<\p> A new study by compensation firm Payscale Inc. crunched the numbers on 3.1 million degree-holding workers to find out which schools, majors and degree programs offered both the best starting salaries and best potential salaries 10 years after graduation. <\p>
Valley PE firm takes majority stake in defense dealer
A Florida-based e-commerce military parts distributor plans to expand into the Arizona market after Montage Partners, a private equity firm headquartered in Scottsdale, acquired a majority stake in the company. <\p> Montage Partners on Aug. 26 closed a transaction to acquire Military Fasteners, which serves customers in the aerospace and defense industry. Montage made a $10 million equity investment as part of the deal, though the company decline to share the full transaction value. <\p>
Billion-dollar community in Rocky Point nearly sold out
Puerto Peñasco-based MG Developments has sold 80% of its lots within the $1 billion master-planned community it is developing at Playa Encanto Beach in Rocky Point, about a four hour drive south of Phoenix.<\p> These lots ranging from 6,000 to 8,200 square feet, said Keith Allen, sales director for Encántame Resorts.<\p>
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