PHOENIX, AZ (July 9, 2025) – Following an unprecedented streak of record setting years, Arizona economic development efforts reached still greater heights in Fiscal Year 2025 (FY25). In the 12-month fiscal period that ended on June 30, 2025, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to creating a projected 24,285 new Arizona jobs with an average wage of $95,928. Both represent record-setting results for the state. The companies also committed to investing more than $31 billion in local communities.

In addition to high-quality economic expansions, FY25 saw substantial wins for workforce development, startup and small business growth, supply chain enhancements, rural economic development, and more.

The ACA’s Fiscal Year 2025 results represent 121% of the ACA’s annual projected jobs goal, 162% of its wages goal, and 791% of its projected capital investment goal.

“Across the state, we are delivering the family-sustaining jobs and economic growth that make the Arizona Promise possible,” said Governor Katie Hobbs. “From Prescott to Tempe, Arizona is strengthening its workforce, investing in our people, and innovating for the future.”

“Arizona’s economic momentum has never been greater, fueled by strategic initiatives that are supporting high-paying job growth in communities throughout our state,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “With our unmatched business climate, skilled workforce, top education institutions, and strong industry clusters, Arizona continues to attract global leaders across high-tech industries, further supporting our local small businesses and suppliers.”

Expansions took place across the state in FY25 in communities like Apache Junction, Avondale, Benson, Bullhead City, Casa Grande, Chandler, Coolidge, Coconino County, Eloy, Flagstaff, Gilbert, Glendale, Goodyear, Kingman, Marana, Mesa, Peoria, Phoenix, Prescott, Prescott Valley, Scottsdale, Snowflake, Surprise, Tempe, Tucson, and Yuma.

“We are grateful to Governor Hobbs, Arizona’s legislative leaders, and all of our industry, academia, and local economic development partners for their continued collaboration and leadership as we work to grow Arizona’s economy,” Sandra Watson continued.

The ACA’s annual metrics represent direct projected jobs and capital investment from companies.

Expansion projects in FY 2025 include:

• Mayo Clinic announced a major $1.9 billion investment to significantly expand its Phoenix campus, which will increase Mayo’s clinical space and create thousands of skilled health care jobs.
• Axon will significantly expand its headquarters in Arizona, creating thousands of jobs.
• Dutch Bros. will relocate its corporate headquarters from Oregon to Tempe, supporting hundreds of jobs.
• Pure Wafer, a leading semiconductor supplier, announced plans to expand its silicon wafer reclamation facility in Prescott, supporting over 100 jobs.
• KoMiCo, a semiconductor supplier headquartered in the Republic of Korea, will establish a $50 million semiconductor equipment cleaning and coating facility in Mesa, creating over 200 jobs.
• GTI Energy will expand its manufacturing facility in Goodyear, investing a total of $53 million and creating 600 new jobs.
• Eternity Technologies will establish its North American headquarters and battery manufacturing facility in Phoenix, investing more than $20 million and creating 50 new jobs.
• Apex Power Conversion announced the establishment of its U.S. headquarters and manufacturing facility in Mesa, representing an over $60 million investment and creating up to 700 new jobs.
• Nucleus RadioPharma, a radiopharmaceutical manufacturer and developer, will build a new theranostics manufacturing facility in Mesa, creating 50 new jobs.
• Cognite, an industrial software company, relocated its global headquarters to Tempe from Norway, creating nearly 140 jobs.
• Komatsu broke ground on its new 210,000-square-foot mining facility in Mesa, representing an $80 million investment and creating up to 100 new jobs.
• Quantum Computing Inc. celebrated the grand opening of its quantum photonic chip manufacturing facility in Tempe, creating over 50 new jobs.
• MiiHealth, an AI-powered health tech company, relocated its headquarters to Phoenix from London, creating over 100 new jobs.
• Magna, a Canadian automotive supplier, announced a new 230,000-square-foot manufacturing facility in Mesa, creating hundreds of new jobs.
• Tricolor celebrated the grand opening of its 258,000-square-foot automotive reconditioning facility in Surprise, creating over 500 new jobs.
• Blue Polymers broke ground on its recycled plastics production facility in Buckeye, creating over 60 new jobs.

Since 2011, the ACA has successfully landed 1,360 companies that have committed to creating more than 312,000 quality jobs and investing more than $194 billion in new capital in the state.