In the dynamic world of construction, few regions embody the ebb and flow of the industry quite like Greater Phoenix. Historically known as a boom-and-bust city, Phoenix has experienced the cyclical dance of housing developments, driven by fluctuating interest rates and economic tides. However, the past decade has seen a transformative shift, turning Greater Phoenix into a flourishing hub for technology-driven growth and innovation.
Even amid the challenges of the recent pandemic, Arizona experienced a tech boom, defying the market conditions and increasing the number of tech jobs by 28% since 2016.
Arizona has long been recognized as a hub for semiconductor manufacturing companies. However, with the recent implementation of the CHIPS Act, major global semiconductor companies have been further incentivized to expand operations domestically, causing competition among regions to attract investment. Having already positioned itself as an ideal location for such expansion, Arizona continues to provide substantial funding and a growing ecosystem to this fast-growing industry.
