Signs of an economic recovery are all around us. Arizona’s economy is improving at a solid clip says Nathaniel Karp, chief economist for BBVA Compass and one of the few bank economists who tracks conditions here.
“Arizona’s economic recovery is among the fastest in the country,” said Karp, speaking to BBVA Compass clients in Phoenix this week. “And we’re seeing a faster recovery compared to a few months ago.”
The gilbert area is also bolstered by news of four new companies moving into the area. Last month drew breaking news of Intel brining online a shiny new 5 billion dollar factory in chandler. It will be the most sophisticated factory of its kind in the world.
Now there is breaking news of three new job creating companies swarming into the valley, and the gilbert area in particular.
Chandler-based Sun Valley Solar Solutions had a 600 percent growth in revenue during 2009. It has been accredited as an Elite Dealer by SunPower Corp., a manufacturer of high-efficiency solar cells, panels and systems.They will be partnering with schools in the gilbert area to accomplish two objectives. It will bring jobs to the area as well as helping gilbert schools become more energy independent. Campo Verde is the first school scheduled to receive this high tech upgrade.
Able Engineering and Component Services would move its facilities from Phoenix into a 180,000-square-foot warehouse and manufacturing facility that would be built near the south side of the airport if the proposal wins approval.
“We’re talking about high-paying jobs,” said Fred Himovitz, an airport-based developer who initiated discussions with the firm’s executives several years ago and offered to locate the company at the airport. “This is exactly what this airport needs.”
Able’s rapid growth over the past several years prompted the company’s officials to seek larger facilities than its Phoenix site near 32nd Street and Broadway Road could accommodate, airport officials said.
The company expects to have 250 employees within a year after moving into the new Gateway building in 2012 and double that workforce by 2015 with an average annual salary of $100,000, Casey Denny said.
With last week’s announcement from Intel that a new $5 billion chip plant will be built in Chandler came the promise of up to 1,000 permanent new jobs, and thousands more to construct the building. So the next question is, what will these jobs be? Intel’s Chandler spokeswoman, Dawn Jones, said the “primary” positions will be manufacturing technicians and process engineers.Technicians require associates or bachelor’s degrees in electronics, electrical, chemical, or mechanical engineering, or physics,” she said via e-mail. Engineers require bachelor’s, master’s or doctorate degrees in electrical, chemical, or mechanical engineering, physics, material science or related fields.” “We do have a pool of talent here in Arizona, from the state universities, as well as engineers and technicians that may have been laid off during the recent downturn.” We also provide a significant amount of on-the-job training and continuous learning opportunities,” Jones wrote.
There is also a brewing company in talks to move to the Gilbert Area. We will keep you posted and update this page as news continues to break.
These Announcements could not have come at a better time.
Intel Corp.’s plan to expand its Arizona operations with a $5 billion manufacturing facility in Chandler is especially welcome because it constitutes a huge boost to a nascent economic rebound.
As The Arizona Republic’s Russ Wiles reported on Friday – the very day of Intel’s announcement – that the state’s economy actually is among the national leaders in job production, hard as that might be to believe just now.
In fact, the modestly positive outlook shows Arizona’s economy expanding at a 3.4 percent clip this year, slightly above expectations for the nation’s rebound. What’s more, much of that improvement should come in the Intel-class sector, with relatively strong gains expected in manufacturing and technological exports.
Still, there is a long, long way to go before the word “recovery” actually has some resonance. But the signals are there.