Phoenix launches six-part economic series; presentation highlights population, jobs and investment
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Summary
City economic development staff opened a six-part series describing Phoenix’s strategic post-recession reset, citing population growth to 1.6 million, job growth in knowledge sectors, major business locates and significant foreign direct investment; council members pressed for attention to housing and workforce integration.
Phoenix — The city’s Community and Economic Development director opened a six-part series on the Phoenix economy on Feb. 11, telling the Economic Development & Arts Subcommittee that the city pursued a strategic reset after the Great Recession and has since diversified its economy.
Ryan Toe Hill (introduced as community and economic development director) said Phoenix’s population grew from about 1,400,000 residents in 2010 to about 1,600,000 in 2024 and described employment growth and sector diversification. He cited data presented to the subcommittee, including that employment in Phoenix has increased approximately 31% since 2010 and that education and health sectors added about 60,000 jobs.
Ryan also highlighted recent business attraction metrics shown in the presentation: 246 business locates that resulted in more than 111,000 created or retained jobs and capital investment exceeding $74,000,000,000, and he said Greater Phoenix attracted more than $35,000,000,000 in foreign direct investment in 2024 (a figure that excludes TSMC’s projected $165,000,000,000 investment). He pointed to local bioscience projects (for example, a Mayo Discovery Oasis hub and related research partnerships) and major employers that staff named during the briefing.
Councilmembers asked how housing and affordability are being integrated into the strategy. Councilwoman Stark said housing stock and affordability must be woven into the city’s approach as it markets Phoenix for new investment; Ryan said the series will examine related topics such as land and economic geography, talent and workforce development, and downtown growth in future parts of the briefing.
The presentation set a multi-month calendar for deeper dives on global markets, land use, workforce pipelines and downtown development.
