Arizona expected to add more than 720K jobs by 2030
PHOENIX – Arizona will be flush with new jobs, more than 720,000 in a variety of sectors, by the end of the decade, according to economic projections.
A Monday report from the Arizona Office of Economic Opportunity projected employment would reach 3,751,905 in 2030 and said the biggest gains were expected to come in education, health services and professional and business services.
“Jobs, jobs, jobs – that’s the forecast for Arizona over the next 10 years,” Gov. Doug Ducey said in a press release.
Arizona stood at 3,030,216 jobs in 2020.
“We’re also going to see fast gains in construction, leisure and hospitality as well as high-wage, high-tech industries like manufacturing and financial services,” Patrick Ptak, a senior vice president with the Arizona Commerce Authority, told KTAR News 92.3 FM’s Arizona’s Morning News on Tuesday.
“Good news all around.”
All 15 counties will see some part of the employment surge, according to the report. Maricopa County is expected to lead in fastest growth at an annual rate at 2.4%, followed by Pinal County at 2.2%.
“We have seen accelerated job growth this year,” Ptak said.
Intel, Taiwan Semiconductor Manufacturing, Kore Power and Lucid Motors all have signed deals to build and expand facilities in the Phoenix area.
“We’re talking tens of thousands of jobs coming online,” Ptak said.
Slow growth is projected in Apache County with 0.2%, and Cochise County at 0.5%.
The projections are based on trends and trajectories, including no major economic or political disruptions occur during the projected period; Arizona’s population growth continues to among the fastest-growing in the county; and demand for health care services increases as population demographics shift.