Phoenix welcomes 47 relocating companies in the last 3 years
Over the last three years, the Phoenix metro area has welcomed 47 corporate headquarters relocations to the Valley
June 12, 2019
- Over the last three years, the Phoenix metro area has welcomed 47 corporate headquarters relocations to the Valley. Companies are making the continental or even the international move citing the Valley’s more affordable costs as a factor in their decision. Average asking rates for office in Q1 were $27.14 FSG, 24.6 percent below the national average.
- Phoenix Metro is an excellent place to conduct business and has attributes that appeal to companies with a growing workforce: affordable housing, a friendlier tax and regulatory environment, a robust, educated labor force, and a booming economy. Recent company headquarters relocations include Bridgepoint Education from California, Benchmark Electronics from Texas, & Prevalent from New Jersey.
- California has been one of the bigger originators of relocating companies over the three years with 25 companies making the state-line jump. By relocating to Phoenix they have avoided the harsh California regulatory environment, high taxes, and higher cost of living for their employees. Companies making the relocation to Phoenix include Tuft & Needle, Apex Tactical Specialties and RJR Technologies.
Source: JLL Research, Great Phoenix Economic Council