By Hayley Ringle | Phoenix Business Journal
A new economic report looking at downtown Phoenix shows the fast-growing area is generating $9.7 billion annually in economic activity.
This number is derived from 66,000 employees in the downtown area earning $3.9 billion in total income, according to “The Economic Capture of the Downtown Phoenix Redevelopment Area” report prepared for Downtown Phoenix Inc.
“At the end of the day, downtown is punching way above its weight in terms of generating resources for the city, county and state,” said David Krietor, CEO of Downtown Phoenix Inc., in a statement.
That kind of economic impact is no surprise to anyone visiting for an event or for those who work in the area. The growing economy has produced 7,000 residential units, 13,000 students at Arizona State University’s downtown campus and nearly 400 tech businesses and other startups at local co-working spaces.
