Arizona beats record in job creation, expects 24,422 new jobs in five years

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Arizona State seal
Credits: Wikimedia Commons/Bernard Gagnon

Arizona beat its expectations in job creation, wages and capital investment for the fiscal year 2019, according to the state’s leading economic development agency.

According to the Arizona Commerce Authority, 105 companies made commitments to create 24, 422 new jobs and to invest $2.6 billion in the state over the next five years. The agency obtained the commitment from July 1 through June 30, 2019.

The companies’ commitments exceeded the agency’s goal of assisting with the creation of 16,000 jobs for the fiscal year.

In its FY19, annual report, the Arizona Commerce Authority indicated that the estimated jobs have an average salary of over $66,000 a year, 186 percent of the state’s median wage.

By the end of this year, the agency already achieved 53 percent of is five-year job creation goal, just two years into its current five-year business plan,  Companies made a commitment to create 42,531 new jobs. The agency also achieved its five-year investment goal after companies committed to investing $4.76 billion into Arizona.

Gov. Ducey says Arizona’s economy is “booming”

In a statement, Arizona Governor Doug Ducey said, “Companies from all over the world have discovered that there’s no better place than Arizona to expand or scale a business. As a result, Arizona has become a jobs juggernaut and our economy is booming.