Arizona House Majority Announces New Committee on International Trade

Arizona State House Speaker Ben Toma (R-Peoria) announced Thursday the formation of the House Committee on International Trade to help improve Arizona’s economic footprint.

“Trade is essential to Arizona’s success,” said Toma. “It fuels our state’s economic growth, generating business and job opportunities – all which is also critical for the prosperity of Arizona families. Our state has tremendous opportunity to grow our trade footprint with international partners, and that is the intention behind this new committee.”

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Arizona State Rep. David Cook Shares Legislative Goals Following Bipartisan Trade Mission to Brazil

Arizona State Rep. David Cook (R-Globe) recently led a bipartisan team of lawmakers on a trade mission to Brazil to advance Arizona’s position in the global economy and is now sharing legislative goals following the trip.

“I was honored to be joined by such a great group of public servants in a bipartisan trade delegation to Brazil to expand our state’s trade opportunities,” said Cook. “I’m looking forward to working with my colleagues and the great leaders we met to bolster Arizona’s economy.”

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Ducey Announces $100 Million Investment in Arizona’s Semiconductor Industry

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Arizona Governor Doug Ducey announced a $100 million investment in the state’s semiconductor industry, according to a press release from his office.

“Arizona has earned a place as one of the world’s leading destinations for chip design, manufacturing and innovation,” Ducey said in a press release. “With historic opportunities before us, this funding ensures we make the most of this moment and cement our semiconductor leadership for decades to come. My thanks to all our partners in the private sector and higher education for their commitment to expanding our high-tech economy.”

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Arizona Sees Record Number of Jobs in the State

The Arizona Commerce Authority (ACA) revealed Monday that efforts to work with companies to bring jobs to Arizona have paid off, bringing in the most jobs seen by the organization in a single year.

“For the second year in a row, Arizona economic development efforts broke records. During the 12-month fiscal period that ended June 30, 2022, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to creating a projected 24,186 new Arizona jobs – a single year record. Those companies also committed to investing $10.75 billion in local communities,” according to the ACA.

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Report: Arizona to Add 700K Jobs by 2030, Triple the U.S. Rate

Arizona’s economic conditions are estimated to attract hundreds of thousands of new workers to the state.

A report from the Arizona Office of Economic Opportunity indicated the state’s economic growth is expected to outpace the national average.

“The Office of Economic Opportunity (OEO) is projecting Arizona employment to increase to 3,751,905 jobs in 2030 from 3,030,216 jobs in 2020,” the report said. “This represents growth of 721,689 jobs, or 2.2% annualized growth. By comparison, United States employment is projected to grow by 0.7% annually from 2020 to 2030.”

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