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Phoenix doesn't really compare with Dubai at all and the other two are 2nd/3rd world cities lol.
I'm still trying to understand where Phoenix's place is in the economy as far as industry is concerned. Like I don't get what jobs it has to bring people to the metro in such high numbers.
Phoenix doesn't really compare with Dubai at all and the other two are 2nd/3rd world cities lol.
I'm still trying to understand where Phoenix's place is in the economy as far as industry is concerned. Like I don't get what jobs it has to bring people to the metro in such high numbers.
That article is based on relocation and expansion deals (which in this case makes AZ similar to TX, cheaper manufacturing and general cost of doing business), but 'Site Selection' magazine lists no actual parameters for what constitutes a relocation or expansion deal. Meaning, we all know where the blue chip companies did their relocating and expansions (at least when it comes to R&D and the like).
One thing I find odd about the article is the math used:
Quote:
Metropolitan Phoenix's 78 deals in 2014 were more thanSan Francisco, Seattle and Portlandcombined in the Pacific Region.
Phoenix 78
San Francisco 49
Salt Lake City 35
Denver 35
Portland 28
Riverside-San Bernadino-Ontario 23
Las Vegas 18
Seattle 16
Albuquerque 12
78 > 93 ???
Last edited by RadicalAtheist; 03-30-2015 at 05:01 PM..
The country's economy has been in solid expansion since late 2012 to the start of 2013, deceleration to Chicago isn't mind-numbing until we get to 2014's numbers. By all accounts the July 1, 2013 - July 1, 2014 time period nationwide was far more optimistic than the previous four intervals before it. Yet Chicago decelerated substantially and that is what the problem is.
It paints a concerning picture when looking at future periods but if you're right and that Chicago is improving compared to previous years, it should show positively next year.
One economic point is that while the population increase dropped to 10,000, almost 80,000 jobs were created last year. It's quite rare I believe for the number of jobs to grow more than the actual population, since normally you only need around one job to support every two people (college students, 25% of the population being too young for a job, retired people, people who are dependents, etc).
It's an odd situation for Chicago looking at the past 50 years, because the city is actually about the only growing economic engine in the entire metro area right now, and normally the suburbs would be greatly outshining in sheer economic growth. Narrowing it down more, the downtown area is essentially booming right now, both in jobs (increase in 65,000 jobs since the economic downturn, an all high time employment now for downtown) and the increase of 60,000 residential units in the downtown area since 2000, with 16,000 of those coming in the past few years. That addition of tens of thousands of residents has really changed the dynamic downtown with more bars, restaurants and retail to serve a full time population and not just a daytime employment base, tourists and people coming from elsewhere in the metro to go out at night.
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