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Published on January 08, 2025
Arizona's Tech Sector Booms With Multi-Billion Dollar Investments and Workforce Development InitiativesSource: Unsplash/Carlos Irineu da Costa

Arizona's economy, already on a notable upswing, looks poised to continue its ascent with a series of tech investments that promise to inject billions into the state and create thousands of jobs. According to FOX 10 Phoenix, President-elect Donald Trump has indicated that Arizona will benefit from a $20 billion investment in its tech sector from DAMAC, a Dubai-based company. Hussain Sajwani of DAMAC said, "At least $20 billion over a very short period of time," noting that this could increase "even more than that if the opportunity in the market allows us."

The state has been on the radar for tech giants and emerging businesses due to its burgeoning tech ecosystem, which came to prominence with significant investments and company relocations over time. Patrick Ptak from the Arizona Commerce Authority commented on the growing tech presence, highlighted by a recent partnership that positions Arizona State University (ASU) at the forefront with the establishment of the "co-located NSTC Prototyping and NAPMP Advanced Packaging Piloting Facility." Sally Morton of ASU underscored the benefits of this partnership to FOX 10 Phoenix, stating, "This is a way to bring more high-paying jobs for all Arizonans."

Tech-related developments in Arizona are not limited to recent investments. Orionprop reported that over 100 competitive projects in 2024 committed to creating more than 25,800 projected new jobs and investing over $53.6 billion in the state. These expansions touched upon multiple cities, indicating a statewide economic boost rather than an isolated growth spurt. Sandra Watson, President and CEO of the Arizona Commerce Authority, told Orionprop, “2024 represented a year of significant growth and investments to continue growing Arizona’s economy.”

Arizona has not solely focused on attracting businesses. It's also built a foundation to support and expand its workforce. Intel has initiated the first U.S. registered apprenticeship for semiconductor technicians, and TSMC Arizona announced the expansion of its Registered Technician Apprenticeship program, as per Orionprop. Additionally, Governor Hobbs unveiled ConnectAllAZ in December, a clarion call to ensure that all Arizonans, even in the most rural areas, have access to statewide broadband programs and high-speed, reliable internet.