As Arizona’s largest private employer, Banner Health is highlighting its outsized role not only in health care, but in the state’s broader economy.

In its newly released 2025 annual report, the Phoenix-based nonprofit health system said it invested $1.1 billion back into the communities it serves, supporting patient care, workforce development, research, and prevention efforts. The report also estimates Banner’s operations generate a $12 billion annual economic impact across Arizona.

The figures reinforce Banner’s standing as one of Arizona’s most consequential institutions for both public health and economic growth.

According to the report, Banner supports 140,000 jobs statewide, including 60,000 direct employees and another 80,000 indirect jobs tied to its operations and related economic activity.

For Arizona’s business community, those numbers underscore how health care systems increasingly serve as pillars of regional economic development, workforce stability, and long-term competitiveness.

“A strong health care system is foundational to a strong economy,” Arizona ˿����Ƶ of Commerce & Industry President and CEO Danny Seiden said. “Banner Health’s continued investment in Arizona’s workforce, communities, and long-term health outcomes demonstrates how essential institutions like this help make our state a place where businesses can grow, families can thrive, and talent wants to live and work.”

That broader economic perspective is reflected in Banner’s nonprofit model, which emphasizes reinvestment in patient care, technology, workforce development, and community-based services across Arizona.

“As a nonprofit health system, every dollar we earn is invested into our care, services, technology, talent and communities, not Wall Street shareholders,” Banner Health President and CEO Amy Perry said in the report’s .

That reinvestment model is especially visible in Banner’s workforce pipeline efforts, a critical issue as Arizona continues to grapple with population growth and a rising demand for health care professionals.

The annual report notes Banner trains more than 1,300 residents and fellows each year, supports 7,000 nursing students annually, and provides hands-on health care career experiences for more than 3,500 high school students through programs such as Camp Scrubs.

Those investments come as Arizona employers across sectors continue to emphasize the importance of talent development and workforce readiness.

Beyond its role as an employer, Banner also detailed major investments aimed at improving health outcomes in Arizona communities.

Among the report’s highlights, the system said it served 70,000 meals to low-income seniors through the Banner Olive Branch Senior Center and distributed more than 1 million pounds of food through its pantry operations.

Banner’s BIG Pink Bus mobile mammography program also screened nearly 1,000 women, with 18% receiving their first-ever screening, expanding access to preventive care in communities that may otherwise face barriers to early detection services.

The report also cites measurable gains in preventive care among Medicaid populations, including a 114% increase in colorectal cancer screenings and more than an 1,100% increase in blood pressure checks year over year.

For employers and policymakers alike, those gains carry implications that extend beyond the health sector.

A healthier workforce can translate into reduced absenteeism, improved productivity, and lower long-term health costs — all factors that influence Arizona’s economic competitiveness.

As the state continues to attract new residents, businesses, and investment, Banner’s report makes clear that health care infrastructure remains a central driver of Arizona’s economic momentum.

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A delegation of Missouri state lawmakers and business leaders visited Arizona last week for a policy exchange focused on economic development, emerging technologies, and regulatory strategy, hosted by the Arizona ˿����Ƶ of Commerce & Industry and the Goldwater Institute.

The visit drew a cross-section of Arizona’s legislative leadership, including House Speaker Steve Montenegro, Majority Leader Michael Carbone, and several members focused on Arizona’s technology and economic development agenda. Representatives from the Arizona Commerce Authority also participated.

Discussions centered on the policy decisions and public-private partnerships that have helped Arizona build a competitive footprint in advanced manufacturing, semiconductors, aerospace, autonomous systems, and emerging technologies.

“Arizona’s growth didn’t happen by accident,” said Courtney Coolidge, executive vice president of the Arizona ˿����Ƶ. “It reflects deliberate policy choices that prioritize certainty, competitiveness, and a regulatory environment where businesses can invest, innovate, and scale. We were glad to share what’s working with leaders from Missouri.”

The exchange comes as the Arizona ˿����Ƶ has been pressing a broader push on digital economy policy, including its recently launched , which aims to strengthen the state’s position in artificial intelligence and emerging technology sectors.

Arizona’s legislative leaders framed the state’s approach as deliberate and long-term. “Arizona has made a conscious decision to lead on innovation rather than wait for other states to set the pace,” said Speaker Montenegro. “That kind of alignment and forward-looking policy environment allows industries to grow and scale here.”

Majority Leader Carbone pointed to the fundamentals underpinning that growth. “Arizona’s success in attracting major investment is tied directly to our focus on advanced manufacturing, infrastructure, and supply chain strength,” he said. “Those fundamentals are critical to sustaining long-term economic momentum.”

Regulatory predictability came up consistently as a deciding factor for businesses. “Companies are looking for certainty,” said Rep. Weninger. “Arizona’s predictable regulatory environment and competitive tax structure give businesses the confidence to invest and expand.”

Sen. T.J. Shope emphasized that the state has worked to distribute economic development beyond major metro areas. “We’ve been intentional about making sure economic development isn’t concentrated in one region,” he said. “Infrastructure, water, and land use policies all play a role in supporting growth across Arizona, including in rural communities.”

“Arizona continues to attract new and emerging industries by staying focused on innovation and targeted economic development,” said Sen. Carroll. “That approach is helping position the state for the next phase of economic expansion.”

Rep. Wilmeth echoed that, pointing to Arizona’s light-touch approach to emerging technology regulation as a competitive differentiator. “We’ve taken a thoughtful approach to emerging technologies by avoiding premature regulation,” he said. “That flexibility allows innovation to develop while still ensuring appropriate oversight.”

The discussion also explored how elements of Arizona’s policy framework could be adapted in other states and how cross-state collaboration might strengthen the broader U.S. economy.

Victor Riches, president and CEO of the Goldwater Institute, framed the stakes broadly. “As emerging technologies continue to reshape industries, policy certainty and deregulation matter more than ever,” he said. “Arizona needs to ensure an environment where innovation can move forward.” The Missouri delegation included state Sens. Travis Fitzwater, Maggie Nurrenbern, Karla May, Barbara Anne Washington, and Jamie Burger, along with a policy adviser to Gov. Kehoe and representatives from the .

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The U.S. Environmental Protection Agency this week finalized a ruling that shields the Phoenix-Mesa region from a more stringent federal air quality classification, delivering a significant win for Arizona businesses and capping a years-long effort to address a problem the state has long argued it didn’t cause.

The EPA determined that the Phoenix-Mesa area would have met federal ozone standards by its August 2024 deadline but for pollution coming in from outside the United States. Under a provision of the Clean Air Act known as Section 179B, the agency will not reclassify the region from “Moderate” to “Serious” nonattainment.

The distinction matters. A reclassification to “Serious” would have significantly tightened the regulatory screws on businesses — lowering thresholds for major emission sources, increasing offset requirements, and expanding air quality control obligations — all while adding complexity to permitting.

The case for the exemption rested on a straightforward argument backed by years of modeling: Phoenix’s ozone problem is largely not of Phoenix’s making. Independent modeling by both the Maricopa Association of Governments and the EPA found that approximately 80 percent of the ozone in the region comes from natural sources or emission sources outside the nonattainment area, including pollution transported from Mexico and Asia, and wildfire smoke.

MAG, the regional planning agency for metropolitan Phoenix, said it had been advocating for the exemption since the Biden administration. It formally submitted its demonstration to EPA in September 2025, and the Phoenix ruling marks the first time the EPA has used its Section 179B authority since Administrator Lee Zeldin rescinded prior guidance that had made the process difficult for states to navigate.

Danny Seiden, president and CEO of the Arizona ˿����Ƶ of Commerce & Industry, called the outcome long overdue. “For decades, Arizona’s businesses have done everything right,” Seiden said. “They’ve invested in cleaner operations, embraced new technology, and helped cut the region’s air pollution by roughly 70 percent since 1990 — all while our economy and population grew dramatically.”

The National Association of Manufacturers weighed in quickly after the ruling, saying the EPA decision gives Arizona’s manufacturers greater flexibility to grow while advancing environmental stewardship. The NAM also called on Congress to build on the momentum by modernizing the Clean Air Act’s permitting process, noting that manufacturers consistently cite Clean Air Act permits as the most burdensome approval process they face.

said the ruling reflects the agency’s broader approach under Administrator Zeldin. “This action is yet another example of the Trump EPA making sure we are not punishing Americans for emissions from countries that do not have our same environmental standards,” Martucci said.

Under the final determination, the Phoenix-Mesa area remains classified as Moderate nonattainment and is not subject to reclassification requirements or the more burdensome permitting and offset requirements that would have come with a Serious designation. All other existing Moderate area obligations remain in effect.

Seiden said the ˿����Ƶ would continue to watch the ruling closely. “We stand ready to vigorously defend this decision against any effort to undo it,” he said.

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From off-road vehicles built for Arizona’s rugged terrain to partnerships that support small businesses, public safety, and workforce development, Polaris Inc. has established itself as a leader in innovation and outdoor recreation. With a growing presence in the state and an active role in public policy discussions, Polaris continues to shape the future of powersports while investing in the communities it serves. In this ˿����Ƶ Business News Member Spotlight, J.R. Burke, senior director of government relations & legal – on-road, shares insights into the company’s operations, policy priorities, and commitment to Arizona.

What is Polaris?

Polaris has spent over 70 years designing, engineering, and manufacturing products that help people do more outside. We were founded in Roseau, Minnesota – a town about 10 minutes from the Canadian border. Since creating our first snowmobile in Roseau in 1954, Polaris has transformed from a regional manufacturer into a global powersports leader. Consistently redefining market segments through relentless innovation, we are best known today for our off‑road vehicles, snowmobiles, and marine brands. From the Polaris RANGER and RZR, to our other leading brands like the Polaris Slingshot and Bennington pontoons, our products are fan-favorites. At our core, Polaris is focused on building high-quality products that meet real‑world needs while being a strong partner to the communities where we operate.

Can you talk about your areas of focus (off road, on road, marine) and the markets in which you do business?

Polaris operates across three primary segments: off‑road vehicles, on‑road vehicles, and marine. Our off‑road vehicles—including side‑by‑sides and ATVs—are widely used for recreation, agriculture, ranching, land management, and public safety. Snowmobiles remain a strong business for Polaris, and we hold the #2 market share position in the industry. With its bold styling, our Slingshot vehicles offer distinctive three‑wheeled, open‑air on-road experience and are introducing new customers to powersports and Polaris. Through our Polaris Marine segment, we have the #1 pontoon brand in the market with Bennington pontoons, as well as Hurricane deck boats and Godfrey pontoons.

What makes Arizona a great place for Polaris to do business?

Arizona’s vast public lands and diverse outdoor landscapes offer exceptional opportunities for recreation. Polaris’ powersports products are uniquely built to meet the needs of Arizonans—whether their adventures take them onto trails, along the state’s scenic highways, or out on the water. Our network of independent dealer partners across Arizona play a critical role in bringing these experiences to life for our customers. In our work at the Capitol over the past several years, we’ve consistently met with legislators who share our commitment to supporting small businesses and manufacturers like Polaris. Their partnership helps ensure we can continue delivering the innovative products our customers expect.

Are there any policy priorities you’re focusing on in Arizona?

Polaris supports policies that encourage economic growth, protect access to public lands, and provide regulatory clarity for manufacturers and consumers alike. As a manufacturer representative on the Arizona OHV Study Committee, we have focused efforts to create policies that create safe experiences for motorized and non-motorized recreants on public lands and to modernize Arizona’s OHV laws to reflect advances in vehicle design that our customers expect. We value the working collaborations we’ve been able to establish with lawmakers and stakeholders alike to provide industry insight and support balanced solutions.

Do you partner with vocational/technical programs and higher education to hire talent?

Yes, Polaris actively partners with nonprofits, technical and higher‑education institutions to help build the next generation of skilled workers, both at Polaris and within our dealer network. These partnerships focus on manufacturing, engineering, skilled trades, and dealer service technicians—areas critical to long‑term economic growth and the future of the powersports industry. We support internship programs, curriculum alignment, and hands‑on learning opportunities that connect students directly to career pathways. For example, in 2025 Polaris invested $80,000 in our S.T.E.P. scholarships program to help support the next generation of powersports technicians. Additionally, more than 1,000 students across 45 schools also received free access to Polaris eLearning focused on the maintenance of Polaris vehicles. 

How do some of your products support the farm and agriculture industry?

Many farmers and ranchers trust Polaris off-road vehicles as essential tools for daily operations. Our side‑by‑side vehicles are used for hauling, fencing, irrigation checks, livestock management, and general property maintenance. These vehicles are designed to be durable, reliable, and adaptable to tough working conditions, qualities that are critical for customers who count on their vehicle to help them get the job done. Polaris products help them be more productive while reducing physical strain and time spent on manual tasks. Supporting the farm and agricultural community is a natural extension for Polaris. In fact, last year we ran our Ag Advantage program, a promotional offer that was available only to farmers and ranchers as our way to show our support for this hard-working community. We will continue to look for ways to show our appreciation for them.

Can you talk about your defense and government vehicles, as well as your partnership with the federal government?

Polaris has worked closely with the U.S. Department of Defense and other state and federal agencies to deliver platforms used in border patrol, police, fire and rescue calls, disaster response, and worldwide supporting our military. We design and manufacture the most capable light tactical military vehicles available today with technology development and insertion for the battlefield of tomorrow. Our military vehicles have become force multipliers for expeditionary forces. Polaris is proud to have a dedicated Defense business that can leverage everything Polaris has to offer – for military forces worldwide. Almost half of the team are vets – ranging from elite special forces, helicopter pilots and military maintainers. Outside of our Defense business, our Government team is a trusted partner of many federal, state, and local government organizations, providing the most complete lineup of side-by-sides for public safety uses.

How does Polaris engage with the community?

Community engagement is an important part of how Polaris operates, particularly around responsible riding and helping to take care of the places our vehicles are used. We partner with local organizations, riding clubs, our dealers, and non-profits, like the National Forest Foundation, on projects such as responsible riding education, trail maintenance and improvements, and environmental stewardship initiatives. In Arizona alone, Polaris has donated over $125,000 through these types of programs. For example, last year, in partnership with the National Forest Foundation, we helped improve navigation, promote responsible riding, and helping protect natural resources through the production and installation of new signage in the Coconino National Forest and we have some more exciting projects coming up in Arizona later this year. These efforts help ensure public lands remain accessible, safe, and sustainable for multiple uses. Our approach is grounded in being a good neighbor and a long‑term community partner.

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Arizona’s decade of economic momentum now has a roadmap for what comes next. The Arizona ˿����Ƶ Foundation and the Arizona Commerce Authority have jointly released , a comprehensive competitiveness playbook developed with input from hundreds of leaders across business, government, academia, and workforce development.

The initiative, chaired by David Rousseau, president of Salt River Project, and co-chaired by Sandra Watson, president and CEO of the Arizona Commerce Authority, and former Arizona State Treasurer Eileen Klein, outlines more than 50 actionable strategies spanning eight critical areas: business climate, workforce, education, energy, water, infrastructure, innovation, and entrepreneurship.

“Arizona’s success over the last decade didn’t happen by accident. It was driven by smart, focused policy decisions and strong collaboration across government, business, and philanthropy.”

— Danny Seiden, president & CEO, Arizona ˿����Ƶ of Commerce & Industry

Five priorities emerged as most essential from the research and stakeholder engagement process that informed the report.

Five Core Priorities

The playbook emphasizes that other states are actively working to replicate Arizona’s recent success, making a proactive, coordinated strategy essential. “Other states are not standing still — they are actively working to replicate Arizona’s recent success,” Rousseau said. “This forward-looking initiative helps identify where Arizona should focus its time, attention, and investment to protect its competitive advantages and ensure long-term economic strength.”

“Competitiveness today is about readiness — aligning workforce development, infrastructure capacity, and innovation in a way that reflects how real investment decisions are made.”

— Sandra Watson, President & CEO, Arizona Commerce Authority

Co-chair Eileen Klein, who spearheaded the project on behalf of the Arizona ˿����Ƶ Foundation, framed ArizonaW1NS as both an honest assessment and a call to action.

“ArizonaW1NS shows what’s working, what needs attention, and where smart, disciplined action will help secure Arizona’s future,” she said. “Arizona’s momentum is real. Our responsibility now is to protect it, strengthen it, and prepare for what comes next.”

The initiative is supported through funding from the Arizona Legislature and Governor Katie Hobbs, along with additional contributions from Amazon, the Arizona Board of Regents, Arizona Public Service, and Salt River Project. 

ArizonaW1NS will continue working with business leaders to periodically review the state’s progress, refresh priorities as milestones are achieved, and support competitiveness planning in communities across Arizona.

Business voices from across the state welcomed the initiative. Simer Mayo, CEO and founder of Valor Global, called ArizonaW1NS a reflection of a strong foundation: “Under the leadership of Arizona’s governor and Legislature, combined with the vision of the Arizona Commerce Authority and Arizona ˿����Ƶ, Arizona has built one of the strongest economic development platforms in the country.”

Read the full ArizonaW1NS report at .

Image: DPPed, CC BY-SA 3.0 , via Wikimedia Commons

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The Arizona ˿����Ƶ of Commerce & Industry has filed an amicus brief in Maricopa County Superior Court defending the constitutionality of a state law designed to support large-scale economic development projects and protect private property rights. 

The brief was filed in a lawsuit challenging A.R.S. § 9-461.19, legislation enacted last year that creates a framework intended to open mid-sized cities for major corporate headquarters and other significant development projects. 

The lawsuit is widely viewed as tied to a proposed international headquarters project by Arizona-based public safety technology company Axon in Scottsdale. But the ˿����Ƶ argues the case raises broader issues about property rights, regulatory certainty, and Arizona’s ability to attract major investments. 

In its filing, the ˿����Ƶ urged the court to reject a request for a preliminary injunction that would halt implementation of the law while the case proceeds. 

“The ability to invest in and develop private property is fundamental to Arizona’s economic success,” said Danny Seiden, president and CEO of the Arizona ˿����Ƶ of Commerce & Industry. “When projects that have been properly approved can be tied up indefinitely in litigation, it creates uncertainty that makes it harder for businesses to invest, expand, and create jobs in our state.” 

The ˿����Ƶ’s filing emphasizes that the law is not limited to any single company or project. Instead, it establishes a classification for mid-sized cities intended to support economic growth and address development challenges that may arise in those communities. 

The brief argues that population-based classifications used in the law are a common and constitutionally recognized legislative tool, and that Arizona courts have repeatedly upheld similar frameworks. 

“Large employers will not invest billions of dollars in communities where approved projects can be stalled indefinitely through litigation,” Seiden said. “Protecting private property rights and maintaining regulatory certainty are essential if Arizona wants to remain competitive for major investments.” 

Mike Bailey, general counsel & director of legal reform programs for the Arizona ˿����Ƶ, said the case ultimately raises broader constitutional and economic questions. 

“This case is about whether the Legislature can enact reasonable policies that support economic growth while respecting constitutional limits,” Bailey said. “The law reflects a rational policy choice by the Legislature, and courts have long recognized that population-based classifications like this are constitutionally legitimate.” 

The ˿����Ƶ said the outcome of the case could have implications beyond the current dispute, particularly as Arizona continues competing for large-scale investments and international headquarters projects. 

In its brief, the ˿����Ƶ argues the court should deny the request for an injunction and allow the law to remain in effect while the case proceeds. 

Image courtesy ����

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House Bill 4115, legislation by Speaker of the House Steve Montenegro is scheduled for consideration by the full state House, while companion legislation in the state Senate by Sen. T.J. Shope is similarly ready for consideration by the full Senate.

Here’s a look at how the bills would align the local initiative process with the well-established processes at a state level and protect local economic development efforts.

Bills align local initiative processes with established statewide initiative processes

House Bill 4115, introduced by Speaker of the House Steve Montenegro, seeks to standardize the regulation of initiative and referendum measures across Arizona by expanding state-level requirements to municipal and county levels. A mirror bill, SB 1489 by state Sen. T.J. Shope, has been introduced in the Senate.

The legislation focuses on three primary pillars:

• Increased transparency for paid petition circulators
• Mandatory financial disclosures for spending-related measures
• The creation of regulatory parity between state and local ballot processes

Supported by a broad coalition of the Arizona business community, the bill aims to protect the integrity of the ballot from out-of-state interests, support local decisionmaking, and provide voters with clearer information regarding the fiscal impacts of proposed local laws.

Key regulatory changes

HB 4115 and SB 1489 amend several sections of the Arizona Revised Statutes (Title 19) to ensure that the standards applied to statewide measures are nearly as practicable for local jurisdictions.

Paid circulator requirements

The bill introduces identification and disclosure protocols for paid circulators to ensure voters understand who is soliciting their signatures, similar to the protocols in other states.

Financial disclosure and revenue sources

A critical component for local fiscal management is the new requirement for measures that mandate expenditures. Any municipal or county initiative or referendum that proposes a mandatory expenditure, establishes a specific fund, or allocates funding must:

• Provide a disclosure of the expenditure or allocation.
• Include this funding disclosure within the 200-word initiative description provided to voters.

Economic impact and business community perspectives

The Arizona business community has signaled strong support for HB 4115 and SB 1489, viewing it as a defense against out-of-state activists who leverage local processes to advance narrow political agendas that may conflict with regional economic development.

Proponent coalition

The bill is backed by a diverse group of organizations, including:

• Arizona ˿����Ƶ of Commerce & Industry
• Arizona Restaurant Association
• Greater Phoenix ˿����Ƶ
• Greater Phoenix Economic Council (GPEC)
• United Dairymen of Arizona
• Valley Partnership
• Local chambers of commerce across Arizona

Leadership insights

• Danny Seiden, president and CEO of the Arizona ˿����Ƶ of Commerce & Industry: “These bills contain commonsense reforms that protect the integrity of the ballot, ensure voters know who is behind an initiative, and provide clearer information about proposals that would require new taxpayer-funded spending.”
• Courtney Coolidge, executive vice president of the Arizona ˿����Ƶ: Coolidge has noted that out-of-state activists exploit the lack of guardrails at the local level. The goal of HB 4115 and SB 1489 is to ensure state and local processes are “equally rigorous” to prevent economic strategies from being “sidelined.”

Case study in local volatility: The Marana data center dispute

Current litigation in the Town of Marana underscores the administrative and legal friction that the legislation aims to mitigate through clearer standards.

• The conflict: Residents filed a lawsuit against the Town of Marana after the town clerk rejected a referendum targeting a proposed data center.
• The technicality: The organizers behind the petition campaign argue that their submission was out of compliance and should thus be withdrawn. Supporters not affiliated with the organized referendum campaign, however, ��argue that the petitions cannot be withdrawn.
• Business implication: Such disputes demonstrate how local economic development projects can be stalled by procedural ambiguities in the referendum process, highlighting the need for the consistent standards proposed in HB 4115 and SB 1489.

Public sentiment and voter data

Polling conducted by Cygnal in December 2025 indicates that the provisions in HB 4115 and SB 1489 align with a vast majority of Arizona voters:

• 90% believe ballot initiatives should be driven by Arizona residents rather than out-of-state organizations.
• 84% support requiring paid circulators to wear visible identification badges.
• 80% support requiring initiatives that mandate spending to identify a specific funding source.
• 70% support achieving parity between state and local initiative requirements.

The case for passage

• Uniformity is priority: Standardization of initiative processes reduces the ability of activists to target smaller municipalities with less-regulated processes.
• Fiscal accountability: Future local initiatives will be required to disclose potential costs of their proposals, potentially reducing the risk of unfunded mandates that impact the local tax base.
• Bipartisan support: HB 4115 passed the House Federalism, Military Affairs & Elections Committee with a 5-2 bipartisan vote. SB 1489 was cleared by the Senate Judiciary and Elections Committee. Both bills are ready for consideration by the full House and Senate, respectively.
• Grassroots efforts unaffected: Initiative campaigns by local residents are not affected by the provisions of the legislation.

Photo courtesy Elizabeth Jenkins, licensed as CC BY-NC-SA 2.0.

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Arizona’s global economic profile soared in 2025 as the state posted record-breaking international trade and foreign direct investment figures, underscoring its emergence as a leading U.S. hub for advanced industries and global commerce.

According to from the Arizona Commerce Authority, the state’s exports and imports expanded significantly, with strong gains across high-tech sectors and an especially notable rise in trade with Taiwan.

Arizona companies exported $44.4 billion in goods in 2025 — a 37 % increase over the prior year and among the fastest export growth rates in the nation — far outpacing the U.S. average. The state also saw massive increases in imports and international investment, creating thousands of new jobs statewide.

Key highlights include Arizona’s top rankings in several advanced export categories:

• #1 in Metal Ores ($2.7 B, +19.9 %)
• #3 in Computer Equipment ($9 B, +205 %)
• #5 in Semiconductors & Electronic Components ($6.3 B, +84 %)
• #8 in Medical & Control Instruments ($2.4 B, +14 %)
• #10 in Aerospace Parts ($5.6 B, +4.3 %)

These gains reflect Arizona’s continued strength in manufacturing, technology, and innovation, all sectors that are driving the state’s global export footprint.

“Arizona has emerged on the world stage as a global economic powerhouse, leading to more family-sustaining jobs and generational opportunity for Arizonans,” said Governor Katie Hobbs. “I’m proud that Arizona is setting the pace for innovation and technological progress and proving what’s possible when we lead boldly.”

Taiwan’s rapid climb on Arizona’s trade chart

One of the most striking developments in the new data is the surge in economic exchange with Taiwan. In 2025, Taiwan surpassed both Canada and China to become Arizona’s second-largest trading partner behind Mexico, with total trade exceeding $21.2 billion.

This remarkable rise marks a major shift in Arizona’s global trade relationships and underscores the deepening economic ties between the state and one of the world’s most important technology and manufacturing economies. Led by key components and advanced technologies, Arizona’s imports from Taiwan rose sharply, while exports also expanded meaningfully.

The upswing with Taiwan reflects successful international trade missions, enhanced business partnerships, and increased cross-border investment activity. Earlier efforts by state leaders to promote Arizona’s workforce, innovation ecosystem, and business climate abroad have helped elevate the state’s global competitiveness, particularly in sectors like semiconductors and computing. The growing collaboration also mirrors broader geopolitical trade developments boosting tech-focused cooperation between the U.S. and Taiwan.

˿����Ƶ and Business Leaders Weigh In

Business and civic leaders highlighted the significance of these gains for Arizona’s long-term economic prospects. Danny Seiden, president and CEO of the Arizona ˿����Ƶ of Commerce & Industry, emphasized the role of sound public policy and a stable business climate in fueling trade growth.

“Arizona’s growth in global trade didn’t happen by accident. It reflects years of smart policy, collaboration between the public and private sectors, and a business climate that gives companies the confidence to invest, hire, and expand here,” Seiden said. “These record trade gains underscore why a competitive, predictable environment matters.”

Sandra Watson, president and CEO of the Arizona Commerce Authority, noted that the state’s strategic emphasis on international engagement is paying dividends across industries, driving job creation and innovation opportunities for communities statewide.

“Arizona’s global prominence has never been greater,” Watson said. “Our record-setting trade and investment reflect a bold strategy and strategic partnerships, leading to more jobs, innovation, and opportunity for communities across our state.” 

Arizona’s global economic outlook

With more than $195 billion in foreign direct investment announced since 2020 and a robust pipeline of projects from international partners including Taiwan and Japan, Arizona’s role on the global economic stage continues to strengthen. The state attracted 55 new foreign investment projects in 2025 alone, projected to generate more than 25,000 new jobs.

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The state House Commerce Committee on Tuesday advanced HB 4026, legislation sponsored by Rep. Michael Carbone (R-Buckeye) that modernizes and strengthens a public infrastructure tool that has helped make Arizona a national leader in advanced manufacturing investment.

The bill, supported by the Arizona ˿����Ƶ of Commerce & Industry, the Arizona Manufacturers Council, and a broad coalition of business and community leaders, ensures that Arizona communities have the infrastructure capacity necessary to compete for high-wage manufacturing projects.

Modernizing a proven program

Arizona’s Public Infrastructure Program was established in 2012 and has since helped secure billions of dollars in private capital investment, positioning the state as the nation’s leader in semiconductor manufacturing investment.

The program allows cities, towns, and counties to recapture a portion of construction-related state sales tax revenues generated directly by a qualifying manufacturing project and reinvest those dollars into public infrastructure improvements — including roads, water, wastewater, and reclamation systems — that support both the facility and the broader community.

During committee testimony, advocates pointed out that the program does not create new taxes and instead reinvests tax revenue generated by the project itself into infrastructure that makes the investment possible.

Addressing a critical cap

Under current law, total distributions under the program statewide are subject to a $200 million lifetime cap. But as supporters pointed out in the hearing, the arbitrary cap is rapidly being reached, putting current and future public infrastructure projects at risk of being underfunded and limiting Arizona’s ability to compete for the next generation of mega-projects.

“This program has worked in helping cities build the infrastructure they need to support these massive projects,” Arizona ˿����Ƶ Executive Vice President Courtney Coolidge said. “We don’t win these projects every day, but when we do, they’re a huge benefit to the entire state, supporting jobs, tax revenue, and small business.”

The legislation replaces the lifetime cap with a $75 million annual cap, providing predictable, statewide access to the program. The bill also clarifies that payments are limited to the lesser of the state transaction privilege tax revenues generated from construction of the facility or 80% of the public infrastructure cost.

Queen Creek Mayor Julia Wheatley told committee members the program was essential to her town’s ability to attract a huge LG Energy investment on a former state land trust plot.

“In order to build on that barren state trust land, the town needed to build supporting public infrastructure,” she said. “Building the infrastructure from scratch was a very costly endeavor for the town and we needed to utilize the public infrastructure program to help us recapture some of the $84 million in public investment from revenues generated as a result of LG’s own state construction sales tax dollars.”

Strengthening accountability and transparency

HB 4026 enhances oversight by requiring a detailed analysis of the anticipated direct and indirect revenues the state will receive as a result of constructing the manufacturing facility, which must be provided to the Arizona Commerce Authority.

The bill also requires development and intergovernmental agreements entered into under the program to be posted publicly on the Department of Revenue’s website, further reinforcing transparency.

Supporting high-wage jobs, long-term growth

Greater Phoenix Economic Council Vice President Tim Bourcet said that as Arizona competes nationally and globally to attract advanced manufacturing projects, particularly in semiconductors and other high-tech sectors, infrastructure readiness is often the deciding factor.

“The public infrastructure reimbursement program has been vital to the advanced manufacturing industry,” he said, pointing out that the program has played in role in investments by companies like TSMC and Amkor, in addition to the LG project in Queen Creek. “Modernization is now a necessity to continue to be the number one destination for advanced manufacturing in the United States.”

By modernizing the distribution cap while maintaining strong accountability measures, HB 4026 ensures that Arizona has the policy tools to remain competitive in the race to onshore advanced manufacturing.

The bill now advances to the Rules Committee and to reviews by each party’s caucus and then to a vote of the full House. Assuming passage, the bill will repeat the process in the state Senate in the coming weeks.

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The proposed Silver King Energy Center, a new energy generation project planned for unincorporated Pinal County, is scheduled to go before county officials for a zoning vote on February 18, marking a key milestone for a project supporters say will strengthen Arizona’s energy reliability and support long-term economic growth. 

The project is designed to help meet Arizona’s rapidly growing energy demand, driven by population growth, advanced manufacturing, and large-scale industrial development across the region. As proposed, the Silver King Energy Center would add new generation capacity to the grid through a mix of solar, battery storage, and natural gas generation, providing both reliability and flexibility during periods of peak demand. 

Project materials indicate the facility would combine 800 megawatts of solar and battery storage with 400 megawatts of natural gas generation, helping ensure consistent power delivery as energy needs continue to rise across the state. 

In addition to supporting grid reliability, supporters point to the project’s economic impact. The Silver King Energy Center represents an estimated $2.9 billion capital investment and is expected to generate more than 2,300 direct job-years during construction, along with long-term operational jobs. The project would also generate new tax revenue for Pinal County and the state, including funding that benefits Arizona State Trust Land beneficiaries such as public education. 

In a letter submitted to county leaders, the Arizona ˿����Ƶ of Commerce & Industry urged approval of the project, citing the need for timely investment in energy infrastructure to keep Arizona competitive. 

“Arizona’s economic growth depends on having reliable, affordable energy,” ˿����Ƶ President and CEO Danny Seiden said. “Projects like Silver King are critical to ensuring we can meet rising demand while supporting jobs, local revenue, and long-term economic stability for communities across the state.” 

Support for the project extends beyond the business community. Labor organizations have also highlighted the project’s workforce impact and the opportunity to create high-quality construction jobs. 

In a letter to county supervisors, IBEW Local 640 emphasized that the project would support thousands of hours of skilled electrical work, including opportunities for local workers and apprentices. 

Other supporters have underscored the importance of planning ahead as Arizona continues to attract major employers and investment. In its letter, the Arizona Rock Products Association described the Silver King Energy Center as “a significant investment in Arizona’s energy future,” noting that infrastructure projects of this scale are essential to supporting continued economic development in Pinal County and beyond. 

Local agricultural and conservation interests, including Seifert Ranches LLC and the Western Way, have also weighed in, pointing to the project’s alignment with long-term planning goals and the need for reliable energy to support agriculture, industry, and growing communities across the region. 

The February 18 zoning vote will determine whether the Silver King Energy Center can move forward to the next phase of development. 

Image via https://www.silverkingenergycenter.com/

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