In its annual “Best States for Business” report, Forbes has ranked Arizona first in the nation in terms of projected employment. Specifically, the report notes that Arizona is expected to have the fastest job growth at 3 percent annually over the next five years, according to Moody’s Analytics.
“This report reinforces Arizona’s commitment, as a right-to-work state, to business growth and success, and validates the work we have done to make the Arizona Comeback a reality,” said Governor Brewer. “Arizonans who lived and breathed the Great Recession appreciate the great strides we’ve made these past four years. Now, thanks to conservative policies – including sweeping tax reforms and sales tax simplification – a quality workforce and a pro-business approach to government, Arizona is a nationally-recognized economic success story.
In its report, Forbes looks at 35 factors to determine the best and worst states for expected job growth. Arizona’s expected 3 percent job gains are projected to boost household incomes 3.6 percent annually through 2017, ranking Arizona second best in terms of household income, according to Moody’s. Additionally, the forecast predicts Arizona’s future economic growth to expand at a U.S.-best, 4.6% annually. The report attributes Arizona’s ranking primarily to successes in business attraction – including GoDaddy and General Motors – and a large educated workforce.
Since taking office in 2009, Governor Brewer has brought Arizona from one of the bleakest economies to one of the most thriving. Whether stopping government from imposing needless rules and regulations on businesses, lowering taxes on corporate income, capital gains and commercial property, or simplifying the state sales tax code, Governor Brewer has steadfastly promoted and respected the role of the free market in economic recovery. This Forbes report is the latest in a string of publications that recognize Arizona as a premier location for business growth.
“As we celebrate this news, we must continue to be mindful that our work is not finished. Unemployment remains an issue and, as Arizona knows better than most, the economy is ever-unpredictable. But this announcement is further recognition of our tough budget decisions and the pro-growth climate we’ve created since 2009. So long as we stay the responsible course, remain fiscally-disciplined and avoid our past mistakes of high taxes, excessive regulation and wasteful spending, we have every reason to be optimistic about our state’s economic future.”