Arizona economy: Slow recovery this year picks up in 2015

DEvlopers paradiseAZRE Magazine

In the ’90s, the joke was that the state bird was a construction crane, says AAED’s Executive Director Joyce Grossman. She motions out the window of her downtown Phoenix office and says, “You look around here, and you see cranes in the air. That means jobs.”

Arizona isn’t seeing the growth it did in the ’90s, Gorssman continues, but at least we’re not going backward. Arizona is slated to be one of the fastest growing states over the next five years, and GPEC CEO Barry Broome predicts 2014 will see a lot of creative and risky development.

“It’s going to be a developer’s paradise around here for the ones who are really smart and creative, and it’s gunna’ take some guts,” says Broome. “So, if you’re waiting for your building to be 50 percent leased before you break ground, you’re going to miss a lot of opportunities.”

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Related: Labor Secretary: Immigration Reform Critical For Economic Recovery

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