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.

Lifetime Windows & Doors

We want to hear from you.

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

Arizona News

(Facebook File Photo/Phoenix Police Department)...
KTAR.com

Pedestrian crossing street killed in Laveen following hit-and-run

Phoenix police are investigating a fatal hit-and-run collision after a pedestrian died Tuesday evening in Laveen Village.
16 hours ago
(Coronado National Forest Photo)...
Kevin Stone

Forest officials warn visitors about shipping container wall at Arizona border

Officials are warning Coronado National Forest visitors about potential safety hazards related to shipping container border wall construction in southern Arizona.
16 hours ago
Shaqueila Hudson (Maricopa County Sheriff's Office Photo)...
KTAR.com

Woman accused of fatally stabbing boyfriend during argument in Phoenix

A woman was arrested for allegedly stabbing her boyfriend to death during an argument Tuesday in Phoenix, authorities said.
16 hours ago
(Photos via Buckeye Police Department)...
KTAR.com

Buckeye Police boost reward to $12,000 for tips in fatal hit-and-run of 16-year-old girl

Authorities have upped the reward for tips in the fatal hit-and-run of a 16-year-old girl more than two years ago in Buckeye.
16 hours ago
(AP Photo/Matt Rourke)...
KTAR.com

Mesa police fatally shoot man who allegedly drove into patrol vehicle

Police shot and killed a man who allegedly drove into a patrol vehicle outside a Mesa convenience store early Wednesday.
16 hours ago
President Joe Biden speaks about manufacturing jobs and the economy at SK Siltron CSS, a computer c...
KTAR.com

President Joe Biden schedules visit to Phoenix for next week

President Joe Biden will visit a Phoenix microchip plant next week to tout his economic plan, the White House announced Wednesday.
16 hours ago

Sponsored Articles

(Desert Institute for Spine Care photo)...
DESERT INSTITUTE FOR SPINE CARE

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.
...
Quantum Fiber

Stream 4K and more with powerful, high-speed fiber internet

Picking which streaming services to subscribe to are difficult choices, and there is no room for internet that cannot handle increased demands.
...
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
Arizona income growth led nation in 2020 despite pandemic, report finds