Monday, August 29, 2016

Arizona Job Growth Rises Exponentially

Although Arizona’s unemployment rose 0.2% to 6.0% in June, 76,000 jobs have been gained in the last year. To date, more than 3 million jobs are active in the state, which is more than last years’ time-frame at 2.9 million. Most of the job growth is indebted to the education and health services department with almost 20,000 jobs added since last July and professional and business services, who is up 15,300 jobs over 2015. The construction industry secured 11,000 in the last year, ranking 5th on the list of sector job growth! The only sectors to not report gains in job growth are government, down 700 jobs, and natural resources and mining, down 1,200 jobs.

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Friday, August 26, 2016

Economy Rises as Comcast Expands into Southern Arizona

It’s been over a year since Comcast moved into the old Grand Cinemas building near the Tucson Mall, but Tucson has only begun to feel the economic impact. With so much time spent examining several factors in choosing the right location for the Comcast Center of Excellence, Comcast believes it has made the perfect choice in making Tucson its new home. One major consideration that drove the decision-making was the proximity to Air Force Base Davis-Monthan; the company has plans to hire 10,000 military personnel or military family members by the 2107 end. With that, of the 1,125 employees needed to run the new communications center, 15 percent are ensured to be either veterans or family members of veterans.

Now with over 1,200 Tucson employees, Comcast plans to up their game: “when our customers reach this call center, they will be connected with agents who are best equipped to provide an outstanding experience for our customers,” said Comcast senior director and customer account executive Michael Eastman. To do this, Comcast must bring overseas jobs back to the states, resulting in 450 jobs in Albuquerque, 750 in Spokane, 550 in Charleston and 600 in Fort Collins!

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Wednesday, August 24, 2016

VEDA Signs Off to Finance $7.8 Million Towards Economic Development

The Vermont Economic Development Authority (VEDA) recently endorsed almost $8 million in financing towards Vermont’s economic development projects. In total, the projects are expected to cost roughly $16.8 million.

The money will be divided among several separate causes, including manufacturing, railway, agriculture, small businesses, coffee, liquor and more!

According to VEDA Chief Executive Officer Jo Bradley, “VEDA is so pleased to be able to provide growth financing to several start-up and early-stage businesses. In addition, VEDA is helping a long-dormant hydroelectric production facility in southern Vermont once again produce renewable energy.”

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Monday, August 15, 2016

Homeownership at a 50-Year Low

Since 2006, the rate of homeownership has slowly fallen to what the U.S. Census Bureau now calls a 50-year low; most American families aren’t buying homes, but they’re still focusing their sights on single-family residences. What this means is the rate of single-family renters has rapidly increased over the last decade and is projected to continue to do so until plateauing eventually in 2018.

This is good news for those investors in single-family rentals! Several institutional investors took advantage of the situation and actually bought foreclosed single-family properties in bulk. They then renovated the “flip houses” and took them to the market, renting them out to meet the existing demand! But still the investors only make up a small portion of all single-family home sales. According to HomeUnion director of research Steve Hovland, institutional investors only accounted for 2.6% of all single-family home sales in the first quarter of 2016, substantially lower than the fourth quarter of 2015 at 4.0%.

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