GREATER PHOENIX ECONOMIC SNAPSHOT Chris Camacho, President & CEO

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1 GREATER PHOENIX ECONOMIC SNAPSHOT Chris Camacho, President & CEO 1

2 2 THE GREATER PHOENIX ECONOMIC COUNCIL

3 GREATER PHOENIX About the Greater Phoenix Economic Council (GPEC) 3 Our mission is to attract quality businesses to the Greater Phoenix region from around the world, and to advocate and champion foundational efforts to improve the region s competitiveness. We are supported by Maricopa County, 23 cities and towns, and more than 170 private-sector investors. GPEC has assisted more than 630 businesses as they relocate and expand to the region. GPEC has helped bring in more than $13.4 billion in capital investment since its inception in GPEC has brought 110,000+ jobs to the region over the past 25 years.

4 GREATER PHOENIX GPEC SERVICES 4 IN-DEPTH MARKET DATA & ANALYSIS Analysis of current wage rates, labor force, skill levels based on occupation and industry, etc. OPERATIONAL COST ANALYSIS Comparisons across major markets with analysis of transportation, real estate, tax incentives, labor costs, etc. CONNECTIVITY TO KEY RESOURCES Introductions to colleges, universities, workforce assets, state and local regulatory authorities, job training programs, startup resources, business leaders, etc. SITE-SELECTION ASSISTANCE Listing of value-based assets, unique buildings and shovel-ready sites INTERNATIONAL ASSISTANCE Translators and help with EB-5 immigration (in partnership with the state), etc. ECONOMIC IMPACT ANALYSIS Evaluation of your project s economic impact and community benefit.

5 OUR REGION 5

6 GREATER PHOENIX Key Industries 6

7 GREATER PHOENIX Where Companies Go To Scale 7 FAVORABLE BUSINESS ENVIRONMENT IDEAL LOGISTIC POSITION TALENTED, DIVERSE WORKFORCE GREATER PHOENIX STRENGTHS & ADVANTAGES STABLE CLIMATE AND OPERATING ENVIRONMENT STRONG CULTURE OF ENTREPRENEURSHIP ABUNDANT WATER, ENERGY AND NATURAL RESOURCES

8 8 GREATER PHOENIX COMMUNITIES GREATER PHOENIX REPRESENTS 73% OF THE STATE S ECONOMY

9 GREATER PHOENIX Market Size (2015) 9 GREATER PHOENIX 4,476,399 MARICOPA COUNTY 4,061,400 WEST VALLEY 820,400 PHOENIX 1,517,700 EAST VALLEY 1,846,199

10 GREATER PHOENIX Market Growth (2025) 10 GREATER PHOENIX Will grow by 23.2% to 5.5 million MARICOPA COUNTY Will grow by 21.5% to 4.9 million WEST VALLEY 1,117,800 PHOENIX 1,765,100 EAST VALLEY 2,238, % 14.0% 21.2%

11 ECONOMIC SNAPSHOT 11

12 Jan-04 May-04 Sep-04 Jan-05 May-05 Sep-05 Jan-06 May-06 Sep-06 Jan-07 May-07 Sep-07 Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 Jobs in Thousands GREATER PHOENIX ECONOMIC SNAPSHOT Post-Recession Job Growth Increasing 12 Greater Phoenix lost 300,500 jobs between peak employment in December 2007 and the low point in July 2010 Since July 2010 the metropolitan region has regained 299,600 jobs, or 99.7% of lost jobs Greater Phoenix Job Growth Source: Bureau of Labor Statistics, January 2015, not seasonally adjusted, preliminary numbers

13 GREATER PHOENIX ECONOMIC SNAPSHOT Job Recovery Forecast 13 Jobs roughly equal to December 2007 levels Bottomed out in 2010, began picking up in The University of Arizona Economic and Business Research Center is forecasting 3.2% job growth from 2016 to 2017 in the Greater Phoenix region 2,200.0 Projected Non-farm Employment Growth 2, , , , , , , Source: University of Arizona Economic Business and Research Center, February 2016

14 GREATER PHOENIX ECONOMIC SNAPSHOT Industries Experienced Significant Loss 14 Construction, Professional and Business Services, Retail Trade, and Government experienced the largest job losses, totaling 222,200 jobs The construction industry lost almost half its workforce, declining by 47% Education and Health Care were the only industries to gain employment during the recession Sectors with Job Losses During the Recession Industry Job Loss Peak to Trough % Decline Total Nonfarm -300,500-15% Construction -74,900-47% Professional and Business Services -58,300-18% Retail Trade -45,400-18% Government -43,600-17% Manufacturing -24,500-18% Leisure and Hospitality -23,300-12% Wholesale Trade -11,300-13% Other Services -10,300-14% Transportation and Utilities -10,000-14% Finance and Insurance -7,100-6% Real Estate, Rental, and Leasing -6,400-16% Information -3,800-12% Natural Resources and Mining % Source: Bureau of Labor Statistics, January 2015

15 GREATER PHOENIX ECONOMIC SNAPSHOT Post-Recession Industry Gains 15 Since July 2010, all sectors except Wholesale Trade have had an increase in jobs Professional and Business Services, Health Care, Leisure and Hospitality, and Retail Trade have each gained more than 30,000 jobs Consumption and service oriented industries are leading the region s recovery Sectors with Job Gains Post Recession Sector Job Gains in Recovery % Growth Total Nonfarm 299,600 18% Professional and Business Services 64,100 24% Health Care and Social Assistance 43,800 22% Leisure and Hospitality 43,000 26% Retail Trade 33,000 16% Finance and Insurance 26,800 25% Government 24,200 12% Construction 17,600 21% Information 10,900 40% Educational Services 10,500 27% Transportation and Utilities 10,100 17% Manufacturing 9,600 9% Real Estate, Rental, and Leasing 4,700 14% Other Services 1,800 3% Natural Resources and Mining % Wholesale Trade % Source: Bureau of Labor Statistics, January 2015

16 Real GDP (Millions of Chained 2009 Dollars) GREATER PHOENIX ECONOMIC SNAPSHOT Greater Phoenix Economy is Steadily Growing 16 Greater Phoenix had a Real GDP growth of 1.8% from 2013 to 2014 Total metro GDP in 2014 was $198.0 billion This is a marked improvement over 2009, when there was an 8.8% decline in GDP $225,000 Greater Phoenix Gross Domestic Product $200,000 $175,000 $150,000 $125,000 $100, Source: Bureau of Economic Analysis, September 2015

17 Jan-2002 May-2002 Sep-2002 Jan-2003 May-2003 Sep-2003 Jan-2004 May-2004 Sep-2004 Jan-2005 May-2005 Sep-2005 Jan-2006 May-2006 Sep-2006 Jan-2007 May-2007 Sep-2007 Jan-2008 May-2008 Sep-2008 Jan-2009 May-2009 Sep-2009 Jan-2010 May-2010 Sep-2010 Jan-2011 May-2011 Sep-2011 Jan-2012 May-2012 Sep-2012 Jan-2013 May-2013 Sep-2013 Jan-2014 May-2014 Sep-2014 Jan-2015 May-2015 Sep-2015 GREATER PHOENIX ECONOMIC SNAPSHOT Housing Market Recovery 17 Home prices are now trending slightly upward According to the S&P/Case-Shiller Home Price Index, prices increased by 6.3% in Metro Phoenix from December 2014 to December Greater Phoenix Home Price Index Source: S&P/Case-Shiller Home Price Index, December 2015

18 GREATER PHOENIX ECONOMIC SNAPSHOT Job Growth Fueled by Consumption 18 Consumption industries (construction, real estate, retail, and tourism) have grown 93% since 1985 Advanced Industries have grown only 43% over the same time period 140% Change in Greater Phoenix Employment by Industry Since % 100% 80% 60% Advanced Consumption Total 40% 20% 0% Source: Moody s Analytics

19 GREATER PHOENIX ECONOMIC SNAPSHOT Projected Growth in Income, Sales, Employment, Population and Housing 19 Phoenix-Mesa-Glendale MSA Personal Income ($ mil) 178, , , , , ,075 % Change from Year Ago 5.07% 5.50% 5.51% 6.31% 6.55% 6.44% Retail Sales ($ mil) 61,969 65,022 68,032 72,349 77,088 81,734 % Change from Prior 3.90% 4.90% 4.60% 6.30% 6.60% 6.00% Total Nonfarm Employment (000s) 1,854 1,909 1,966 2,030 2,095 2,158 % Change from Year Ago 2.40% 2.90% 3.00% 3.20% 3.20% 3.00% Population (000s), July 1st estimates 4,405 4,483 4,568 4,664 4,766 4,873 % Change from Year Ago 1.50% 1.80% 1.90% 2.10% 2.20% 2.20% Residential Building Permits (units) 20,341 24,089 28,621 32,212 34,567 35,944 % Change from Prior 8.60% 18.40% 18.80% 12.50% 7.30% 4.00% Source: University of Arizona Economic Business and Research Center, February 2016

20 CURRENT ACTIVITY 20

21 FY2016 PROSPECTS Year to Date Activity 21 CURRENT PROSPECT ACTIVITY TOTAL Current Active Prospects 287 FY16 Prospects 177 Capital Investment Potential $6.9B Job Potential 27,841 Square Footage Potential 39,570,478

22 FY2016 PROSPECTS Year to Date Activity 22 PROSPECTS BY OPERATION TYPE PROSPECTS BY REGION R&D 11 Heavy Manufacturing 10 Warehouse/ Distribution 25 Light Manufacturing 43 Unknown 2 Advanced Administrative/ Back Office 58 Advanced/High Tech Manufacturing 3 Headquarters Office 11 Entry Level Administrative/ Call Center advanced administrative prospects, up from 38 in FY15 11 Headquarters prospects, down from 15 in FY15 56 Manufacturing prospects, down from 70 in FY15 25% of prospects are from California 27 international prospects; including 6 from Canada, 3 from China, and 8 from Europe

23 23 GPEC4JOBS Address 2 N. Central Ave., Suite 2500 Phoenix, AZ Greater Phoenix Economic Council Contact Info Telephone (602) GREATER PHOENIX: WHERE COMPANIES GO TO SCALE

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