According to a recent BBVA Compass report, Arizona supposedly has a zero percent chance of falling into recession in the near future. Instead we are expected to post 2.5 percent growth in economic output.
This seems to be great news for the economic recovery of Arizona and particularly Phoenix, but where does Tucson fit in? With a median household income well below that of Phoenix at $36,758, Tucson relies heavily on the region’s tourism industry and low-wage jobs. In looking at the 20 richest cities in America and how they continue to grow, it is blatantly obvious that these cities have a high density of educated, skilled workers.
The only way we are going to get out of this hole is by digging in and growing companies locally! We can do it, and companies like Tango client Instant BioScan, who were just purchased by Mettler-Toledo International for $30 million, are proof of that.
Read more about how Arizona is “recession proof”.