Business Climate

Scottsdale, Phoenix and the Northeast Valley are noted for the quality of life found here. However, many people don't realize that the average age in the area is lower than the national average. Perhaps because many choose to retire to the "Valley of the Sun" there is a mistaken notion that we have a population heavily shifted in that direction. The truth is that the area has a vibrant, young and growing population as over 300 people a day move into the area from around the country and around the world.

Arizona is the Fastest Growing State!

According to a recent announcement from the U.S. Census Bureau, between July 1, 2005, and July 1, 2006, Arizona grew at a 3.6 percent rate. This is higher than the previous leader Nevada, which had a 3.5 percent gain. Idaho was in third place with a growth rate of 2.6 percent. Louisiana, still feeling the affects of Hurricane Katrina, lost close to 5 percent of its population, with almost 220,000 leaving the state. The fact that Arizona does not suffer from hurricanes as does the southeast also is in our favor when companies choose a location to move to their headquarters or when individuals choose to move to a warmer locale.

What does this mean for our real estate market? It means that even though there is a nationwide slowdown in real estate, Arizona will see continued strong growth in population which will have a positive impact on the currently high number of properties for sale. This will also have a positive effect on long-term appreciation in home prices protecting the investment families make in their homes in Arizona.

The Scottsdale Airpark

Situated just south of Frank Lloyd Wright Blvd. in North Scottsdale, the Scottsdale Airpark has become a key business center in the Northeast Valley. The key development resulting in the growth of the Scottsdale Airpark was the completion of the Loop 101 Freeway just to the East of the Airpark. The freeway diverted traffic from the older, downtown Scottsdale area to the newer areas in North Scottsdale.

There exists a strong, pro-business environment in this area. Scottsdale Community College's Business Institute, located in North Scottsdale, serves as a resource to local businesses seeking customized training and individuals seeking streamlined business courses.

Visit the Scottsdale Community College Business Institute site

The Scottsdale Chamber of Commerce

The Scottsdale Chamber targets industry segments that complement the business mix that already exists in the Scottsdale area including: Corporate Headquarter and Regional Offices, High Tech and Bio-Technology, Healthcare and Medical, Research and Development, Business and Professional Services.

Over the past 15 years, the Chamber has assisted in the location of more than 200 companies that have generated nearly 35,000 jobs, acquired more than 5 million square feet of facility space, and contributed over $1.5 billion in annual payroll to the local economy.

Visit the Scottsdale Chamber of Commerce Site

Arizona Business Collaborations and Accomplishments

In May 2005, Governor Janet Napolitano signed into law a series of business tax relief measures to attract, expand and retain high value growth companies throughout Arizona. The angel investor's tax credit will assist early-stage companies in attracting the much-needed capital to expand operations and bring new ideas, products and services to market. Another initiative, referred to as sales factor allows companies to use a new formula to calculate corporate income taxes, which will ultimately inject more dollars into the state's economy. The last measure championed by the business community, offers substantial business property tax relief through a reduction in the assessment ratio and will benefit businesses of all sizes.

Read more about business collaborations

In Spring 2005, the Critical Path Institute (C-Path) was formed in Tucson. The institute is affiliated with three founding partners: the University of Arizona (UA), SRI International (formerly known as the Stanford Research Institute), and the United States Food and Drug Administration (FDA). UA provides the academic home and infrastructure for C-Path's educational and research programs, and lends it an environment of innovation and inquiry. Participating FDA scientists provide first hand knowledge of the regulatory process, and a wealth of experience in evaluating new pharmaceutical agents. SRI brings practical experience in pharmaceutical development, scientific expertise, and a track record of commercializing new drugs. C-Path's mission is to create innovative programs in education and research that enable the safe acceleration of new medicine development.

The City of Scottsdale and the Arizona State University (ASU) Foundation are currently developing the ASU Scottsdale Center for New Technology and Innovation. The center will focus on technology commercialization, entrepreneurship and business development, and will comprise approximately 1.2 million square feet of space, about 90% of which will likely be research/office space. The first phase of the project will involve at least 150,000 square feet and is expected to be under construction by late 2005.

In 2002, a public-private partnership raised more than $100 M to launch the Translational Genomics Research Institute (TGen). Land, office space and building contraction occurred in under 18 months, creating the catalyst for a revitalized downtown Phoenix area. Additionally, support from the Arizona legislature and leadership from the Arizona Board of Regents initiated a new downtown Phoenix Biomedical Campus project. This new city center for biomedical business and research will include an extension of the University of Arizona College of Medicine and College of Pharmacy, and the Arizona State University College of Nursing.

Population Growth Statistics for Scottsdale, Arizona

Population Growth
in Scottsdale

1975 - 77,107
1980 - 88,364
1985 - 108,447
1990 - 130,069
1995 - 167,227
2000 - 202,705
2005 - 226390

Economic Vitality

As part of the City of Scottsdale's 2006 Economic Vitality Strategic Plan are the following key city goals:

Enhance and protect a diverse, family-oriented community where neighborhoods are safe, protected from adverse impacts, well maintained, and actively revitalized.

Preserve Scottsdale’s desert environment and natural resources, and honor the city’s heritage and character.

Strengthen the transportation system for the safe, efficient, and affordable movement of people and goods.

Position Scottsdale for short- and long-term economic prosperity by strengthening, expanding, and diversifying our economic resources.

Protect Scottsdale residents and visitors by providing quality public safety and homeland security services.

Provide the means to reach other goals by ensuring Scottsdale is fiscally responsible and fair in its management of taxpayer money and city assets, and coordinates land use and infrastructure planning within the context of financial demands and available resources.

Make government accessible, responsive and accountable so that decisions reflect community input and expectations.