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

Beyoncé (Carlijn Jacobs Photo)...

Beyoncé announces Renaissance World Tour with metro Phoenix stop

Get ready for a royal visit, as Queen B herself, Beyoncé, is bringing her 2023 stadium tour to the State Farm Stadium in Glendale.
10 hours ago
Steven Ryan Michael (Peoria Police Department Photo)...

Man arrested after allegedly sexually abusing jogger in Peoria

A Phoenix man was arrested Saturday, accused of sexually abusing a woman who was jogging in Peoria, authorities said.
10 hours ago
Linda Cain (Photo via Maricopa County Sheriff's Office)...

Silver Alert issued for woman with cognitive issues missing from Phoenix

A Silver Alert was issued early Wednesday for a missing woman who has cognitive problems, authorities said.
10 hours ago
(KTAR News Photo/Jeremy Schnell)...
Griselda Zetino

Empty seats: Chronic absenteeism spikes in Arizona schools in recent years

Chronic absenteeism is a problem in Arizona. The issue, defined as missing 10% of the school year, skyrocketed during the COVID-19 pandemic.
10 hours ago
(Twitter Photo/Valley Metro)...
Marcia Hammond

Valley Metro extends light rail hours to 2 a.m. for Super Bowl weekend

Light rail riders in metro Phoenix will be able to get around into the wee hours Super Bowl weekend when extended service begins.
10 hours ago
(Facebook Photo/Cirque du Soleil)...

Cirque du Soleil returning to Phoenix in September with ‘Corteo’

The popular hybrid theatrics of Cirque du Soleil will return to Phoenix later this year with the colorful production “Corteo."
10 hours ago

Sponsored Articles

Fiesta Bowl Foundation

Celebrate 50 years of Vrbo Fiesta Bowl Parade magic!

Since its first production in the early 1970s, the Vrbo Fiesta Bowl Parade presented by Lerner & Rowe has been a staple of Valley traditions, bringing family fun and excitement to downtown Phoenix.
Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
(Desert Institute for Spine Care photo)...

Why DISC is world renowned for back and neck pain treatments

Fifty percent of Americans and 90% of people at least 50 years old have some level of degenerative disc disease.
Arizona income growth led nation in 2020 despite pandemic, report finds