PHOENIX, AZ (STL.News) — The latest economic report by State Policy Reports ranks Arizona fourth best in the nation for economic momentum. The report ranks states’ economic momentum based on growth in personal income, employment and population. Arizona ranked in the top five for all three categories.
“With over 300,000 jobs added since 2015, rising paychecks, and the strongest manufacturing growth in 30 years, Arizona‘s economy is on a roll,” said Governor Ducey. “This is a testament to a talented workforce, strong leaders, innovative entrepreneurs and business-friendly policies that continue to drive Arizona’s economic momentum.”
The national average for economic momentum in the report is set at zero, and only 17 states— including Arizona — exceed the average. According to the report, Arizona is ranked:
- No. 4 in Economic Momentum
- No. 3 in Personal Income Growth
- No. 5 in Job Growth
- No. 4 in Population Growth
Arizona has added more than 300,000 jobs since 2015 while investing in things that matter most to citizens, like K-12 public education, public safety and our roads and bridges.
The state’s tech sector is growing at a rate 40 percent faster than the U.S. overall, according to a new report released by the Arizona Technology Council. Since the start of 2019, Arizona has added 2,600 technology jobs. Tech jobs in Arizona have seen a 5.1 percent wage growth, with an average annual salary of over $80,000.
Additionally, Governor Ducey has prioritized reducing barriers to work, including signing legislation making Arizona the first state in the country to recognize occupational licenses for residents new to the state.