The success of a business relies on many factors including how it’s run, the quality of management and employees, and most importantly, its location. You can find all of these things in the Grand Canyon state, a state whose annual population growth and economic growth is 6.6% and 2.2%, respectively.
Establishing an Arizona commercial office provides many benefits to businesses including the following:
If you think that you will be alone in starting your business—think again. New businesses have a wealth of incentives and resources at their disposal. Possible incentives include job training grants, where 75% of new-hire training is reimbursable, and tax credits totaling up to $25,000 to those business owners who invest in solar renewable energy at their office space in AZ. The state offers a variety of incentives and tax credits to businesses to encourage growth.
Educated & Booming Population
The educated population in Phoenix churns at an incredible rate thanks to, in part, the academic foundry that is Arizona State University—the largest university in America by student population. In addition, the Greater Phoenix area offers more than 40 colleges, universities and other institutions that feed into an equipped and educated workforce.
The population of Phoenix, the fifth largest city in the U.S., is 1.6 million and forecast to grow to an estimated 2.2 million by 2030; the population of the metro area is estimated to reach a staggering 6.3 million by that time.
Cost of Living
A huge benefit for business owners looking to set up shop are the diverse amenities without the high cost of living. Our great city scores below the national average for cost of living categories like housing, utilities, transport, and groceries. Finding an office space in AZ is easier than ever, with relative cost freedom to choose between a high-rise or large warehouse — whichever suits your business needs.
Perfect Location & Climate
It doesn’t get any better than 300+ days of sunshine per year. Breath-taking sunsets, innumerable hiking trails, gorgeous golf courses you can utilize almost year-round and a virtually humidity-free climate are all added perks of setting up an office space in AZ. Need access to travel and shipping? Phoenix Sky Harbor International Airport is the 10th largest megahub in the world, and the state offers railway access to ports in nearby California.
Arizona shares a border with Mexico and has been strengthening its ties with Latin America. In 2015, the first governor-led trade mission in over 10 years was completed, opening new doors such as the University of Arizona and Universidad Nacional Autónoma de México agreeing to establish a center for Mexican studies at UA to foster collaborative research.
This is exciting news, and with more to come, there has never been a better time for growth with international partners.
These are only a few of the reasons why Arizona is the perfect place for new businesses to put down roots. Already have a business in Arizona? What do you like best about your office space in AZ? Let us know by commenting on our LinkedIn page and be sure to direct any Tempe office space inquiries to Camroad Properties.
WRITTEN BY: Portia Dempsey