Intel to invest $20 billion...and other AZ economic good news

[Melanie Johnston]

It's a good day for property investors in Arizona via today's newsflashes from the Phoenix Business Journal:

Intel to invest $20B in Arizona expansion, add 3,000 jobs
Intel Corp. announced plans on Tuesday to invest $20 billion to build two new semiconductor factories at its Chandler campus.

CEO Pat Gelsinger said the expansion will allow Intel to become a major provider of foundry capacity in the U.S. and Europe to serve customers globally.

The new chip factories, known in the industry as fabs, are expected to create over 3,000 permanent high-tech, high-wage jobs; over 3,000 construction jobs; and approximately 15,000 local long-term jobs, according to Intel.

Planning and construction activities are expected to begin immediately, according to Santa Clara, California-based Intel.

Earlier in the day the same newspaper reported: 

Amazon building new facilities in Glendale, Tucson

Highlights:

E-commerce giant Amazon.com is building two new sortation centers in Arizona, one in Glendale and one in Tucson, which will each total more than 270,000 square feet...

The Glendale sortation center, located at Sarival Road and Glendale Avenue, will be Amazon’s first location in Glendale. Construction began in January in both Glendale and Tucson. Amazon has two other West Valley locations that are opening this year, which are a cross-dock facility in Goodyear and a delivery station in Surprise, creating more than 1,000 full-time jobs in the West Valley.

Also earlier today from the PBJ:

GPEC: Valley could add 5,400 manufacturing jobs in next four years

Highlights:

In the next four years, the Phoenix area is expected to add 5,400 manufacturing jobs, and about one-quarter of those will be created by Taiwan Semiconductor Manufacturing Co.’s massive Arizona plant.

TSMC is expected to create 1,900 jobs, and several companies that work with TSMC have already announced plans to come to Arizona.

When I talk with BiggerPockets members wanting to invest here I always mention how much more diverse our economy is than it was back in 2008 when things went sour for the country and we felt it especially hard here.

With stories coming out daily of companies expanding their operations here or moving here, there remains a lot of opportunity for investors.

If you want to learn more about the Valley's economic and growth forecast, check out these maps on the Maricopa Association of Governments website:

https://www.azmag.gov/Programs...

Cities like Goodyear, Surprise, Glendale, Peoria, Chandler, Gilbert, Mesa, Queen Creek and Tolleson, Avondale and other Metro Phoenix cities, are benefitting from this ever increasing economic activity.

That translates into good news for property investors around the Valley.

Melanie

[Marcus B Hsu]

Exciting news for AZ, it is definitely becoming the new Silicon Valley!