Arizona’s economic future looks bright as businesses move to state



Times have been tough for many during the ongoing COVID-19 pandemic, but compared to the rest of the country, the local economy, as well as Arizona’s economy, is doing extremely well, as many businesses are ‘open and hire.

According to The Economist, Phoenix will rank number one or two on a list of the nation’s top job markets. Residents of the valley can feel this change, as businesses move to the area and local businesses expand.

“We have been very fortunate that the business continues to thrive,” said Amy Diamond of Brooklyn Bedding.

Brooklyn Bedding, based in Phoenix and Glendale, is an Arizona-based business. They make all of their mattresses in the valley and ship them across the country. They are inaugurating a brand new factory in Glendale and are looking to hire approximately 150 new employees.

“Ultimately, we want to be able to triple the production of mattresses, and that will create employment opportunities throughout the valley,” said Diamond.

Meanwhile, the owner and chef of Humble Pie is opening a new concept in Scottsdale called Humble Bistro. The concept will showcase new Italian cuisine and they are looking to hire all of their positions.

These are just a few of the very few places expanding during this pandemic.

“The result is that you are in a period of extraordinary growth,” said Elliot D. Pollack and Company CEO Elliot Pollack.

Pollack says the Phoenix area was the top performing major job market in the United States for 2020.

“I would expect Phoenix to see extremely rapid growth over the next two to three years,” Pollack said.

Pollack says the growth is due to state efforts to create a good business climate.

Pollack also said that of the jobs added over the past 10 years, the United States lost 98% in March and April due to the pandemic. Meanwhile, Phoenix has lost only 40%.

As for the rebound, Pollack says the United States has recovered 55% of the jobs lost, while Phoenix has recovered 75%.

“Phoenix is ​​structured to do better than anyone,” Pollack said. “You have a housing boom and a shortage of housing and manufacturing businesses opening up here.”

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