Personal income in Arizona rose last year at a rate faster than nearly any state in the country, according to new estimates from the Bureau of Economic Analysis. With a personal income growth rate of 8.4%, Arizona tied with Montana for the fastest rate of growth in personal income in 2020. “Throughout the pandemic, we’ve sought to stretch and strengthen the social safety net to protect people out of work due to no fault of their own,” said Governor Doug Ducey. “We’ve also adopted a … [Read more...] about Arizona Leads Nation In Personal Income Growth
economy
New Report: Arizona Ranks Third For Economic Momentum
Arizona is ranked third best in the nation for economic momentum, based on a new report by State Policy Reports. The report ranks states’ economic momentum based on growth in personal income, employment and population. Arizona ranked in the top four for employment growth and population growth. Arizona is tied for third with Montana. “Arizona’s economy was one of the hottest in the nation going into the pandemic,” said Governor Ducey. “As we follow commonsense guidance to keep people safe and … [Read more...] about New Report: Arizona Ranks Third For Economic Momentum
Arizona Leads West In Income Growth
Arizona’s median household income rose by 15.2% over the latest three-year recording period, according to new data from the U.S. Census Bureau. That was the highest growth among western and mountain states, and higher than Texas and Florida. The Census data, which compares income growth averaged between 2014-2016 and 2017-2019, indicates that the median household income in Arizona rose by more than $8,600. In addition, last year, Arizona’s total personal income rose by 5%, the fifth strongest … [Read more...] about Arizona Leads West In Income Growth
Why and How to Advertise in the COVID Times
The COVID-19 pandemic is playing out like a Netflix drama. We’re tuning in to find out the latest twists in this ongoing superbug saga as much as we’re learning how many ways we can braid our hair like the Mother of Dragons when we binge-watch Game of Thrones. We can’t wait to hear from our favorite trending characters, like President Trump’s medical advisor Dr. Anthony Fauci. With all eyes on the news, whether it’s on national television or in local publications, the media has our attention … [Read more...] about Why and How to Advertise in the COVID Times
Tourism Supporting Thousands of Jobs, Delivering Millions to Local Economy
The average visitor to Flagstaff is 47 years old, makes more than $100,000 a year, brings two other people along – often, family members – spends nearly $600 a day with his or her group and stays about three nights. Half of the 5.5 million guests who visit come specifically for Flagstaff. About a third are primarily here to see the Grand Canyon, while others are on their way to the Phoenix metropolitan area or Sedona. These are the findings of the Flagstaff Convention & Visitors Bureau … [Read more...] about Tourism Supporting Thousands of Jobs, Delivering Millions to Local Economy
Spending Grows an Economy
What grows an economy? Consumer spending. That’s why consumer spending is 70 percent of the Gross Domestic Product – the indicator for national economic growth. When there is plenty of spending, the economy grows, providing more people with more money to spend on the efforts of more people. This is how the economy, in reality, trickles up. A recent paper from the Economic Policy Institute, “Inequality is Slowing US Economic Growth,” explains what many economists are describing as an age of … [Read more...] about Spending Grows an Economy
NAU, Tourism, Driving Flagstaff Economy
A steady upward trajectory in the Flagstaff economy throughout the remainder of this year and into 2018 promotes continued growth in the construction and retail trades amidst local challenges and a more hostile worldwide environment. So shares Ron Gunderson, Ph.D., emeritus professor of economics in the College of Business at Northern Arizona University. Insights from Gunderson and Lee McPheters, Ph.D., research professor of economics in the W.P. Carey School of Business at Arizona State … [Read more...] about NAU, Tourism, Driving Flagstaff Economy
Star Parties, Blue Grass, Hopi Dances Bringing Ninety Million Dollars to Flagstaff
“The dedication and passion for the arts and science draws tourists, benefits residents and impacts the local economy by $90 million each year.” T. Tannous, Director, Flagstaff Arts Council Flagstaff’s rich culture of arts and science contributes to the city’s character, sophistication and diversity. Events like the Flagstaff Festival of Science link world-class science and scientists to the next generation of explorers, innovators, doctors and technicians. The premier … [Read more...] about Star Parties, Blue Grass, Hopi Dances Bringing Ninety Million Dollars to Flagstaff
Economy Boosted by Flagstaff-Area Residential Construction
Caleb and Rachel Waters live in a 550-square-foot house. With a nearly two-year-old son and a second baby on the way, their new Flagstaff home will bring some much-needed space. “We could have purchased a 1970s home and spent $100,000 in renovations, but it made more sense to build our own sustainable house,” said Rachel, a museum conservator. Caleb is no stranger to building. As a maintenance mechanic supervisor for the National Park Service, he oversees construction, buildings, roads and … [Read more...] about Economy Boosted by Flagstaff-Area Residential Construction
Long-Haul Visitors, Boost to Local Economy
Did you know that Flagstaff welcomes more than 500,000 international visitors annually? And, those long-haul visitors have an economic impact of nearly $70,000,000 on our local economy. It is Flagstaff’s time to shine on the international stage. Our destination is appealing to the international traveler – especially the repeat international visitor who has already experienced some of the top destinations in the United States such as New York and San Francisco. Flagstaff represents an … [Read more...] about Long-Haul Visitors, Boost to Local Economy
