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The Economy of Arizona had a total gross state product $508 billion in 2023. [1] The composition of the state's economy is moderately diverse; although health care, transportation and the government remain the largest sectors. Arizona's per capita income was $61,652 in 2023, ranking 33rd in the U.S. [2] The state had a median household income ...
Arizona was a natural destination thanks to its open spaces and affordable land, favorable business climate and the fact that many of these companies already had a presence in the region ...
The remoteness of the region was eased by the arrival of railroads in 1880. Arizona became a state in 1912 but was primarily rural with an economy based on cattle, cotton, citrus, and copper. Dramatic growth came after 1945, as retirees and young families who appreciated the warm weather and low costs emigrated from the Northeast and Midwest.
Arizona is the sixth largest state by area, ranked after New Mexico and before Nevada. Of the state's 113,998 square miles (295,000 km 2 ), approximately 15% is privately owned. The remaining area is public forest and parkland, state trust land and Native American reservations.
The three U.S. states with the lowest GDPs were Vermont ($43.1 billion), Wyoming ($50.1 billion), and Alaska ($67.1 billion). GDP per capita also varied widely throughout the United States in 2022, with New York ($105,226), Massachusetts ($99,274), and North Dakota ($96,461) recording the three highest GDP per capita figures in the U.S., while ...
The Economic and Business Research Center in the Eller College of Management at The University of Arizona, Tucson, is a unit that has been providing the citizens of Arizona with high-quality [citation needed] economic forecasts and applied economic research since 1949. The Economic and Business Research Center's mission is to provide the ...
This is a list of U.S. states and territories by economic growth rate.This article includes a list of the 50 U.S. states, the District of Columbia, and the 5 inhabited U.S. territories sorted by economic growth — the percentage change in real GDP for the third quarter of 2023 is listed (for the 50 states and District of Columbia), using the most recent data available from the U.S. Bureau of ...
However, 2013 saw Greater Phoenix rebound to 7th. Arizona's year-over-year job growth (of which Phoenix is the main driver) continued to outpace the nation through August 2013. Arizona's year-over-year job growth was at or above 2.0% each month of that year. In contrast, national job growth was between 1.5% and 1.7% on a year-over-year basis.