Phoenix boasts one of the strongest economies in the United States and is consistently ranked as one of the best areas to start and expand a business.
The greater Phoenix area is a $50 billion marketplace with technology serving a major economic backbone.
The region is among the nation’s fastest-growing and attracts big businesses for to expand and relocate. Several Fortunate 500 companies have set up their regional or corporate headquarter in Phoenix including Honeywell, Motorola, Boeing and Intel. American Express, Charles Schwab and Prudential also have major operations in the city.
Phoenix is currently home to seven major Fortune 1000 companies, with several Internet companies, including eBay and AOL.
FOX Business reporter Cheryl Casone heads back to her hometown to prove American prosperity is alive and well.
Phoenix By the Numbers
There are 3 airports in the city flying more than 42 million passengers annually
The city’s unemployment rate sat at 3.3% in 2007
The city is the fifth largest in the nation with more than 1.5 million residents
The real sunshine state: 7.66 inches of rain fall on the desert city annually, with an average temperature of 72.6 degrees and 300 sunny days in the year
The residents are younger than the national average with 50% between 18 and 54 years old—the average person is 33
More than 490 public busses roam the streets with 152,502 residents riding daily
Phoenix's South Mountain Park is the largest municipal park in the world covering 20,000 acres
The median family income in 2006 was $51,862 with the mean wage at $40,893
The median house value was $246,600 in 2007
A Glance In the Rearview Mirror
1.) What has changed about your hometown the most since you left?
THE REAL ESTATE BOOM! WE USED TO GO OUT TO BELL ROAD IN HIGH SCHOOL AND THROW “DESERT PARTIES”. THAT ENTIRE AREA IS NOW FULL OF NEW LUXURY HOME DEVELOPMENTS. IT’S NOW THE CENTER OF PHOENIX, AND IT USED TO BE THE BOONIES!
2.) What one characteristic in your life now do you credit your hometown for planting in you?
PHOENIX HAS A SLOWER PACE THAN MANHATTAN OBVIOUSLY. SOMETIMES WHEN I AM STRESSED BY THE NOISE AND THE CROWDS, I THINK BACK TO THE SILENCE OF THE DESERT, OR RUNNING THE GOLF COURSE NEAR MY HOME, AND THOSE MEMORIES CALM ME DOWN.
3.) What do you miss the most?
MY MORNING HIKES UP CAMELBACK MOUNTAIN. I WOULD GO EARLY TO BEAT THE HEAT, AND BY THE TIME I GOT TO THE MOUNTAIN’S PEAK, THE SUN WOULD BE RISING ON THE “VALLEY OF THE SUN.”
4) Given the chance, would you move back? Why?
I DON’T THINK I’LL EVER MOVE BACK, BUT I CERTAINLY ENJOY MY TIME WITH MY FAMILY AND FRIENDS WHEN I GO HOME. THERE ARE TOO MANY OTHER AMAZING PLACES IN THIS WORLD I’D LIKE TO EXPERIENCE.
5.) What economic opportunity has your hometown lost?
I AM DISAPPOINTED THE PUSH TO RE-DEVELOP DOWNTOWN HAS STALLED. THERE HAS BEEN SO MUCH BUILDING OUT INTO THE DESERT AND PEOPLE SEEM TO STAY MOSTLY IN THE SUBURBS. I WOULD LIKE THAT AREA TO RESEMBLE DOWNTOWN SEATTLE OR SAN FRANCISCO. THEY HAVE BEEN SOMEWHAT SUCCESSFUL, BUT IT COULD BE SO MUCH MORE. 6.) What does your hometown not get enough credit for?
ITS’ NOT THAT HOT! I GET TIRED OF PEOPLE TALKING ABOUT THE EXTREME TEMPERATURES OF PHOENIX. IT’S TOUGH IN JULY AND AUGUST, BUT THE OTHER TEN MONTHS OF THE YEAR ARE AMAZING. IF YOU WANT SUNSHINE OVER 300 DAYS A YEAR, PHOENIX IS FOR YOU!
Mr. Sports Man
Phoenix is home to four major professional sports league teams: the Phoenix Suns (NBA), Arizona Cardinals (NFL), Phoenix Coyotes (NHL) and Arizona Diamondbacks (MLB).
Last year, Arizona hosted Superbowl XLII the with more than 175,000 sports fans flocking to the city to watch the New York Giants put an end to the Patriot’s undefeated streak. The game generated $500 million for state.
Jerry Colangelo is no stranger to the sports world as businessman and sports mogul. With sports running through his blood, Colangelo has served as an assistant coach of the Chicago Bulls, general manager of the Phoenix Suns and is a former majority owner of the Phoenix Suns, Phoenix Mercury (WNBA), and Arizona Rattlers (arena football) and the Arizona Diamondbacks.
In 1968, Colangelo took over the expansion Phoenix Suns NBA franchise as the youngest general manager in professional sports and was instrumental in bringing a major league baseball team to The Grand Canyon State.
I absolutely LOVE this place. I moved here in 1981 and then made the mistake of moving to Tucson for 9 years in 1997. I'm so happy to be back here and will not leave again! The heat in the summer gives us a break from all the winter visitors and traffic improves considerably. If there is a recession going on in America you wouldn't know it here.
October 31, 2008 at 12:54 pm
Mark
I agree with you about Phoenix, it's a wonderful place. I lived there from 1990 to 95. It does get hot, but having relocated back to the midwest where I grew up, i'd move back to Phoenix in a heartbeat, even given its growth the last 10 years. Three hot months beats three cold months anytime.
October 31, 2008 at 11:03 am
Nick
I'm 60 years old and have lived all over the world. I was born in Miami.
I lived in Phoenix for 9 years, and in that relatively brief time I was moved to feel that Phoenix and the great state of Arizona are my home.
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Jean
I absolutely LOVE this place. I moved here in 1981 and then made the mistake of moving to Tucson for 9 years in 1997. I'm so happy to be back here and will not leave again! The heat in the summer gives us a break from all the winter visitors and traffic improves considerably. If there is a recession going on in America you wouldn't know it here.
Mark
I agree with you about Phoenix, it's a wonderful place. I lived there from 1990 to 95. It does get hot, but having relocated back to the midwest where I grew up, i'd move back to Phoenix in a heartbeat, even given its growth the last 10 years. Three hot months beats three cold months anytime.
Nick
I'm 60 years old and have lived all over the world. I was born in Miami. I lived in Phoenix for 9 years, and in that relatively brief time I was moved to feel that Phoenix and the great state of Arizona are my home.