ARIZONA NEWS

Arizona income growth led nation in 2020 despite pandemic, report finds

Mar 31, 2021, 4:55 AM
(Pexels photo)...
(Pexels photo)
(Pexels photo)

PHOENIX — Arizona had the highest jump in personal income in the nation last year despite the ongoing COVID-19 pandemic, according to a report released last week by the Bureau of Economic Analysis.

The report found Arizona had an 8.4% personal income change from 2019 to 2020, to an average of nearly $49,000 a year.

Eric Jay Toll, communications manager with Phoenix Community and Economic Development, credits the personal income jump to manufacturing, bioscience healthcare and business-finance firms coming to the Valley and diversifying the economy.

“Every time one of these new companies comes in, or one of our local companies expands, that increases the amount of wealth that’s available in the economy,” Toll told KTAR News 92.3 FM.

“Kroger announced their new high technology warehouse for delivery shoppers. That’s 700 jobs there,” Toll said. “Thrift Book is another 300 jobs.”

Intel also recently announced an expansion of the Chandler facility, resulting in the addition of 15,000 long-term jobs in the area, while a Canadian company plans to build its tiny three-wheeled electric vehicles in Mesa and bring 500 jobs to the city.

“Our phones are busy on a daily basis in the Business and Workforce Development Center with companies calling and saying they’re ready to hire,” Toll said.

Metro Phoenix in February added 13,400 jobs over the previous month, putting the workforce within 3.6% of February 2020’s employment totals before the pandemic halted the economy a month later.

The highest personal income changes last year occurred on the west coast, according to the report, with Montana (8.4%) and neighboring Utah (8.2%) placing second and third, respectively.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Grant Woods (Gallagher & Kennedy Photo)...
KTAR.com

Weekend wrap-up: Here are the biggest Arizona stories from Oct. 22-24

The unexpected death of former Arizona Attorney General Grant Woods on Saturday is among the biggest Arizona stories of the weekend.
1 day ago
(Arizona Lottery Photo)...
KTAR.com

$108 Mega Million lottery ticket sells in Lake Havasu City

The Arizona Lottery said Saturday a multi-state draw ticket worth $108 million sold at a store in Lake Havasu City on Wednesday.
1 day ago
(Pixabay Photo)...
Associated Press

10-digit dialing required in some Arizona area codes starting Sunday

Starting Sunday, phone users in much of Arizona must include area codes when dialing to make all calls, including local calls that previously required only seven digits.
1 day ago
Pexels photo...
KTAR.com

Police identify woman in Phoenix hit-and-run incident, investigation underway

Phoenix police are searching for the driver involved in a fatal hit-and-run that occurred Saturday afternoon.
1 day ago
Chief of ICU department Dr. Valentyn Koroliuk speaks to a patient with coronavirus at the city hosp...
KTAR.com

Arizona reports 1,483 new COVID-19 cases, 11 more deaths Sunday

Arizona health officials on Sunday reported 1,483 new COVID-19 cases and 11 additional deaths from the disease.
1 day ago
DENVER, CO - JANUARY 13: Colorado Supreme Court Justice Brian D. Boatright swears in members of the...
KTAR.com

Arizona grand jury indicts former candidate of Cochise County Superior Court for perjury

An Arizona grand jury earlier this month indicted a former candidate for the Cochise County Superior Court for perjury, Attorney General Mark Brnovich announced Thursday.
1 day ago

Sponsored Articles

...
DISC DESERT INSTITUTE FOR SPINE CARE

What you need to know about spine health

With 540 million people suffering from lower back pain, it remains the leading cause of long-term disability. That’s why World Spine Day on Oct. 16 will raise awareness about spinal health with its theme, BACK2BACK. “BACK2BACK will focus on highlighting ways in which people can help their spines by staying mobile, avoiding physical inactivity, not overloading […]
...
Sweet James

Best fall road trips to take on a motorcycle

Autumn in Arizona brings the beauty of color-changing leaves and a relief from summer heat. It’s one of the most pleasant times to explore the outdoors, especially on a motorcycle.
...
Chris Kennedy

My Special Aflac Duck® taking flight in Arizona

For more than 65 years, Aflac has had the extraordinary opportunity and privilege to help provide peace of mind to individuals who have our supplemental insurance policies.
Arizona income growth led nation in 2020 despite pandemic, report finds