Arizona heating up as destination for California, international industrial expansion

Image by ArtTower from Pixabay

By Corina Vanek | Phoenix Business Journal

Arizona has long been the recipient of businesses looking to expand or relocate from the West Coast, and new numbers show the trend is speeding up for companies looking for industrial space.

According to data compiled by CBRE and the Greater Phoenix Economic Council, 42 of the 151 industrial prospects tracked by the two firms — about 28% — that are considering Phoenix for a location are from California. That’s a significant increase, considering California companies usually make up between 18% and 20% of companies eyeing the Valley for new sites.

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