Arizona has a population of almost 6 million, with Tempe as the fifth largest city, (165,796). It's expected to hit 175,000 by the year 2010. Since over 40% of residents over age 25 have at least a bachelor's degree, the median income in Tempe is a healthy $42,000-plus. Along with numerous business parks for commercial and industrial properties, downtown Tempe provides more than 20,000 jobs. Besides the state university, the top five employers in Tempe are Salt River Project, Wells Fargo Loan Services, Honeywell, Motorola Computer Group IESS, and Wells Fargo Banking Services.
Tempe is a strong industrial city, with firms producing electronics, semiconductors, computers, and computer software. Tempe Mayor Hugh Hallman reported to the Arizona Republic that the city has recently experienced economic development in several areas, particularly in the following:
- Technology
- Biotechnology
- Nanotechnology
Additionally, Tempe recently received a $1,000,000 government grant to develop 957,800 square feet of retail space. The first phase of this project is expected to create an additional 1,000 jobs for the community.
Sources:
- Arizona Republic, "Fiesta Bowl to Bring in $200 million for Valley"
- Bestplaces.net, "Tempe AZ"
- Infoplease, "Arizona cities"
- U.S. Census Bureau, "Tempe AZ"
- About.com, "Tempe AZ"
- U.S. Department of Housing and Development, "Economic Initiative Award"
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