Arizona’s Economic Growth Celebrated with Prestigious Award
Arizona’s burgeoning economic landscape has once again been recognized as the state secures its fourth consecutive “Gold Shovel” award from Area Development magazine. This accolade highlights Arizona’s success in attracting significant job-creating projects through innovative policies and infrastructure enhancements, reinforcing its position as a key player in the 5-8 million population category.
Award-Winning Projects and Investments
Among the projects celebrated, LG Energy Solution’s monumental $5.5 billion investment in Queen Creek has been named one of the “Manufacturing Projects of the Year” and “Cleantech Projects of the Year.” This ambitious venture involves constructing a battery manufacturing complex expected to generate thousands of jobs. Similarly, Amkor’s $2 billion semiconductor packaging and testing facility in Peoria has been recognized as one of the “Non-Manufacturing Projects of the Year,” promising 2,000 new jobs and becoming the largest outsourced packaging facility in the U.S.
Since 2007, Arizona has been a consistent recipient of Area Development‘s awards, boasting six gold and six silver shovels. Governor Katie Hobbs remarked, From batteries to semiconductors, renewable energy and technology, Arizona has become the leading destination for innovation and advanced manufacturing.
This achievement reflects the state’s prowess in drawing high-tech investments and fostering a robust supply chain while supporting well-paying employment opportunities.
Testimonials from Key Stakeholders
Richard Ra, President of LG Energy Solution Arizona, expressed gratitude for the recognition and emphasized the company’s commitment to fostering sustainability and generating quality jobs in Queen Creek. Mayor Julia Wheatley also highlighted the significant impact of LG Energy Solution’s investment on the region, congratulating the company on its achievements.
Arizona Commerce Authority’s President, Sandra Watson, lauded the state’s accolade, stating, These projects collectively represent billions in capital investment and thousands of projected new jobs in growing industries, creating economic opportunity for Arizonans statewide.
Chris Camacho, President of the Greater Phoenix Economic Council, commended the diverse range of operations that have chosen Arizona as their new home, emphasizing the competitive and conducive business environment.
Diverse Project Highlights
Arizona’s economic success extends beyond LG Energy Solution’s project. Notable developments include:
- Amkor: A $2 billion investment in Peoria, creating 2,000 jobs.
- Applied Materials: Collaborating with Arizona State University on a $270+ million Materials-To-Fab Center in Tempe.
- ASM: Expanding its headquarters in Scottsdale with a $300 million investment.
- Google: A $600 million data center in Mesa.
- Factor: Opening a major production center in Goodyear, creating over 800 jobs.
- EVelution Energy: Building a $200 million cobalt sulfate production facility in Yuma County.
- JA Solar: Establishing a solar module manufacturing facility in Phoenix.
- Republic Services: Relocating its headquarters to Phoenix.
- Benchmark Electronics: Opening a $20 million facility in Mesa.
- Sysco: Building a $102 million distribution facility in Mesa.
- Rose Acre Farms: Constructing a new egg production farm in La Paz County.
- Ascent Aviation Services: Establishing a passenger-to-freighter conversion site in Marana.
- Fortescue: Developing a green hydrogen production facility in Buckeye.
- Clayco: Opening a regional headquarters in Phoenix.
- Rehrig Pacific Company: Building a manufacturing facility in Buckeye.
For more details on the 2024 Shovel Award winners, visit areadevelopment.com/shovels.
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