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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 ...
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 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.
In Arizona, copper mining has been a major industry since the 19th century. In 2007, Arizona was the leading copper-producing state in the country, producing 750 thousand metric tons of copper, valued at $5.54 billion. Arizona's copper production was 60% of the total for the United States. Copper mining also produces gold and silver as ...
States. Core: Arizona New Mexico Others, depending on boundaries used: California Colorado Nevada Utah Oklahoma Texas. The Southwestern United States, also known as the American Southwest or simply the Southwest, is a geographic and cultural region of the United States that includes Arizona and New Mexico, along with adjacent portions of ...
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 ...
Agriculture in Arizona is a notable sector in the state's economy, contributing more than $23.3 billion in 2018. Arizona's diverse climate allows it to export all sorts of commodities such as nuts, wheat, cotton, eggs, meat, and dairy to the United States and 70 other countries.