Phoenix is quickly becoming one the fastest growing areas in the United States as more and more people begin to move from the North East and Midwest of the United States. One of the most interesting aspects bout the Phoenix Metro area is that the capacity for the increased sprawl in almost every direction. Our mild winters and decent business-operating environment is creating a demand for more and more businesses to move to the area. Here are some key growth statistics from Forbes magazine:
M.S.A.: Phoenix-Mesa-Glendale, AZ
2012 Population growth rate: 1%
2013 Population growth rate: 2.7%
Job growth rate: 2.5%
Gross Metro Product: 4.1%
Median salary: $62,600
In addition to the growth that we are enjoying from a Commercial standpoint, we continue to enjoy being one of the most tax friendly states in the United States. Our State Income tax ranges from 2.59%-4.54%. Arizona’s top income tax rate of 4.54% doesn’t kick in until taxable income exceeds $150,000 for single filers or $300,000 for married couples. Our state sales tax stands at a relatively low 5.6%.
As the chart we have included from CNBC shows, when it comes to doing business in the United States, Arizona ranks very highly in several categories. Our workforce is one of the most diverse in the United States while we enjoy one of the best highway infrastructures in the country. If you are thinking about relocating your company to the Phoenix Metro area, please contact us and have one of our dedicated agents complete a detailed analysis on the impact that doing business in the state could have for you. Our team is dedicated to saving you and your company as much time and hassle as possible to make sure that this would be the right move for you.
When it comes to Phoenix Commercial Real Estate the team at Menlo is dedicated to delivering you the best that the region has to offer.