PHOENIX — A new study has shed some positive light on the Arizona economy this year.
BMO Harris Bank released a study last week showing that a strong majority of Arizonans are seeking to invest in their business in 2014.
According to the study, 65 percent of business owners or executives were looking to invest in their business, with more than one-quarter of them expecting to upgrade or purchase new equipment, and another quarter planning on modernizing their technology and systems.
Tim Bruckner, BMO Harris’ Arizona managing director, said those findings reflect a positive outlook by owners and executives on the state’s economy.
“It’s something that we’re excited about. We’re seeing a lot of capital spending going on, a lot of optimism with the uptick in the economy,” he said.
When asked where owners and executives would make those investments, nearly 20 percent responded they plan to hire more employees, which Bruckner said was also another good indicator.
“When we’re bringing people into Arizona to work in technology or healthcare or bioscience, these people are going to buy homes and they’re going to purchase consumer goods,” he said.
Of the 35 percent of executives and owners who were not interested or planning to invest in their business this year, the most popular reasons had to do with the state of the economy, that their business is already performing well enough and that upgrades were not needed.
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.
- 6 of the biggest skin cancer myths
- Affordable small home makeover ideas
- Locals helping locals: 6 success stories you need to know about
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Overlooked water tips to save you money
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon