TSMC announced its intention to expand its investment in advanced semiconductor manufacturing in the United States by an additional $100 billion. Building on the company’s ongoing $65 billion investment in its advanced semiconductor manufacturing operations in Phoenix, TSMC’s total investment in the U.S. is expected to reach $165 billion. The expansion includes plans for three … [More]
Mayo Clinic Announces Transformative $1.9B Investment in Arizona, Reimagining Healthcare
Mayo Clinic announced a nearly $1.9 billion investment in the continued transformation of its Phoenix campus as part of its Bold. Forward. strategy to Cure, Connect and Transform healthcare for the benefit of patients everywhere. Bold. Forward. Unbound. in Arizona will enable new innovative care concepts, physical spaces and integrated technologies to create seamless care … [More]
Steak 44 Acquires Durant’s, Plans Temporary Closure for Renovations
Local steak lovers will see a temporary shake-up in their dining plans as Durant's, a longtime favorite, has been acquired by the acclaimed Steak 44 and Ocean 44 restaurant group, by brothers Mike and Jeffrey Mastro, along with their father Dennis Mastro and business partner Scott Troilo. The transition will bring a fresh new era for the beloved establishment, but not without a … [More]
Rehabilitation Hospital in Florida Extends Its Footprint by Adding a Facility on Mayo Clinic’s Phoenix Campus
Brooks Rehabilitation, nationally acclaimed for its expertise in treating life-changing injuries and complex medical conditions, held a groundbreaking ceremony for its new cutting-edge, 80,000-square-foot inpatient rehabilitation hospital on Mayo Clinic’s Phoenix campus. Ranked by U.S. News & World Report as the No. 1 rehabilitation hospital in Florida and among the top 20 … [More]
Phoenix Maintains Momentum as Nation’s Industrial Leader, Says Report
Phoenix solidifies its reputation as the nation’s industrial powerhouse, with 32.6 million square feet of industrial space under construction and a thriving medical office market driving commercial real estate demand, according to LGE Design Build’s newly released Q4/Q1 Construction Delivery Outlook report. “Phoenix continues to lead as a dynamic hub for industrial … [More]
Lucid Announces CEO Transition
Lucid Group, Inc., maker of electric vehicles, announced Peter Rawlinson has stepped aside from his prior roles. He will transition to the role of Strategic Technical Advisor to the Chairman of the Board. Marc Winterhoff, Chief Operating Officer, has been appointed Interim Chief Executive Officer. As part of the company's regular succession planning process, the … [More]
Apple Spending More Than $500B in the U.S. over Next 4 Years, Data Center Expansion Includes Arizona
Apple announced its largest-ever spend commitment, with plans to spend and invest more than $500 billion in the U.S. over the next four years. This new pledge builds on Apple’s long history of investing in American innovation and advanced high-skilled manufacturing, and will support a wide range of initiatives that focus on artificial intelligence, silicon engineering, and … [More]
Arizona Electric Utilities Team Up to Explore Adding Nuclear Generation
Arizona Public Service (APS), Salt River Project (SRP) and Tucson Electric Power (TEP) recently announced they’ll be working together to explore adding nuclear generation in Arizona. The utilities have been monitoring emerging nuclear technologies and have a shared interest in evaluating their potential to support growing energy needs in the state. APS is leading the effort … [More]
GCU Raising Funds to Support Community Revitalization Efforts
Five-Point Plan is an initiative no other university in the country is undertaking
Grand Canyon University is launching its first major fundraising campaign since reverting to its historical nonprofit status in 2018, seeking to raise money to support its mission of revitalizing the inner-city Phoenix neighborhood in which it resides. The campaign, which kicks off during GCU's 75th Anniversary Amethyst Gala celebration on Friday night, is … [More]
Phoenix to Add 264 Affordable Housing Units Through Purchase and Sale Agreements with School Districts
Phoenix City Council voted to enter into two purchase and sale agreements (PSAs) with local school districts in order to make ten acres of land available for more affordable housing units. The land will be purchased from the Isaac School District (4.56 acres for $3.1 million) and the … [More]
Arizona Launches Aerospace & Defense-Focused Future48 Workforce Accelerator in Mesa
The Accelerator at Chandler-Gilbert Community College will offer hands-on training in aerospace and defense manufacturing
With a growing and skilled workforce, top education institutions and global industry leaders, Arizona launched the latest training facility for its nationally-recognized workforce development program. Joined by industry, education, and government leaders, Governor Katie Hobbs today announced the launch of an aerospace & defense-focused Future48 Workforce Accelerator at … [More]
Nikola Initiates Comprehensive Voluntary Chapter 11 Sale Process
Nikola to pursue value-maximizing sale transactions for its operations
Nikola Corporation, the Phoenix-based zero-emissions transportation and energy supply and infrastructure solutions company, via the HYLA brand, today announced that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola has also filed a motion … [More]
Chamber and Bank Team Up to Provide Economic Data and Analysis to Arizona Business Community
The Greater Phoenix Chamber is excited to announce the relaunch of the Arizona Economic Insights Dashboard, now powered by BOK Financial. This enhanced, dynamic resource offers businesses and individuals real-time, interactive data updates on Arizona’s constantly evolving economic landscape. The public now has access to detailed insights into key indicators such as GDP, job … [More]
EV Energy Tech Co. Announces Shareholder Approval of $323M Merger
Combination intended to create significant shareholder value in pursuit of a sustainable future
Tempe-based Nxu, Inc., a domestic technology company focused on energy storage and charging solutions for the infrastructure we need to power our electrified future, and Verde Bioresins, Inc., a leader in sustainable product innovation and full-service bioplastics production, announced the approval of the merger by Nxu stockholders after completing a stockholder vote on … [More]
Phoenix Children’s Announces the Retirement of President and CEO
Phoenix Children’s announced the retirement of Robert L. Meyer, who has served as the organization’s President and CEO for 22 years. Working with the Board of Directors to finalize the leadership transition process, including the selection of his replacement, Meyer will officially retire in the summer of 2025, marking the end of his leadership tenure that has helped to shape … [More]
Small Businesses Remain Optimistic, Uncertainty Rising on Main Street
Small business owners report few skilled applicants in January for their open positions
The NFIB Small Business Optimism Index fell by 2.3 points in January to 102.8. This is the third consecutive month above the 51-year average of 98. The Uncertainty Index rose 14 points to 100 – the third highest recorded reading – after two months of decline. “Overall, small business owners remain optimistic regarding future business conditions, but uncertainty is on the … [More]
Film Production Projects in Greater Phoenix Generated $29.1M in Economic Impact in 2024
Film production in the Greater Phoenix area generated an impressive $29.1 million in economic output during the 2024 calendar year, as highlighted in the City of Phoenix Film Office's latest Economic Impact Report that was released this week. The report takes into account all aspects of film production, and includes expenditures on local goods and services. The 2024 … [More]
Honeywell Announces Creation of Three Industry-Leading Companies, HQ to Remain in Valley
Honeywell announced that its Board of Directors completed the comprehensive business portfolio evaluation launched a year ago by Chairman and CEO Vimal Kapur and intends to pursue a full separation of Automation and Aerospace Technologies. The planned separation, coupled with the previously announced plan to spin Advanced Materials, will result in three publicly listed industry … [More]
