2020 Regional Competitiveness Score Shows Maricopa County Leads the Nation
In the fifth annual Talent Attraction Scorecard published by Emsi, Maricopa County ranks #1 for its 2020 regional competitiveness score. This ranking is among large counties in the US, defined as having a population of over 100,000 residents. Interestingly, Maricopa County also held the top spot for large counties in 2017 and 2018, and the second spot in 2019. The metropolitan Phoenix market is attracting both businesses and talent at a healthy and self-sustaining rate of growth.
Top 10 Ranking
The top 10 large counties ranking highest for their 2020 regional competitiveness score include:
- Maricopa (Phoenix, AZ)
- Clark (Las Vegas, NV)
- Collin (McKinney, TX)
- Williamson (Georgetown, TX)
- Riverside (Riverside, CA)
- Denton (Denton, TX)
- Fulton (Atlanta, GA)
- Wake (Raleigh, NC)
- Montgomery (Conroe, TX)
- Lee (For Myers, FL)
Source: Emsi Fifth Annual Talent Attraction Scorecard.
Note that all of the top 10 large counties ranking at the top for regional competitiveness are in southern or western states. Texas in particular has four large counties that rank high for regional competitiveness.
Emsi defines regional competitiveness as the “job change that occurs due to factors within a region.” This is as opposed to impacts from trends outside the region such as national economic performance or any other influences. With its return to the top spot for 2020, it is clear that locating and growing a business in Maricopa County is a winning proposition.
Data Included in 2020 Regional Competitiveness Score
Emsi’s data analysis focuses on several important measurable factors including:
- Educational attainment
- Growth of jobs
- Growth of skilled workers
- Regional competitiveness
The report highlights several positive trends for Maricopa County, including current business expansions and a tremendous 18% in the growth of skilled jobs. Expansions in semiconductor manufacturing are highlighted, including Intel Corporation’s newest investment, the Fab 42 plant. This single investment accounts for over 10,000 jobs in Arizona, including 3,000 high-tech positions at the facility. Additional jobs include support engineering, equipment technicians, facility management and maintenance, transportation, and administration.
Success in Several Industries Supports Maricopa County’s 2020 Regional Competitiveness Score
However, the 2020 regional competitiveness score recognizes much more success in businesses than just in the semiconductor industry. The report notes that Maricopa County’s success spans a wide range and depth of industries. Ultimately, the report points to a “positive feedback loop” that supports growth:
Existing talent in Maricopa County
Company relocations and investments
Additional talent to relocate to Maricopa County
This feedback loop results in greater growth overall for Maricopa County and its several cities. For example, the city of Scottsdale has ranked at the top of the list for the 2020 USA job market. As business and jobs grow, so does the need for housing and infrastructure. According to Sperling’s Best Places, future job growth in Scottsdale is predicted to be higher than the US average.
What Should Employers do Regarding the 2020 Regional Competitiveness Score?
Employers should look into the data prepared by Emsi and other organizations such as the Greater Phoenix Economic Council (GPEC). The data may support a strategic relocation to Maricopa County or an expansion of current facilities located in the county. Recently GPEC reported 89 different companies looking to relocate to the Phoenix metropolitan area in their October 2020 Prospect Overview.
Many of these companies are looking to benefit from a lower cost of living, less taxes, and business-friendly policies. As a result of Maricopa County’s top ranking 2020 regional competitiveness score, these companies will also benefit from the county’s job growth, a growing and highly educated workforce, and positive inbound migration of skilled talent.
GMS’ team of domestic relocation experts has helped thousands of our clients understand how to find information on highly desirable areas for business relocations and group moves. Our team can help your company understand how the 2020 regional competitiveness score can lead to a successful business relocation with many benefits for both employers and employees.
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Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s interest in learning more about the 2020 regional competitiveness score for Maricopa County, or give us a call at 800.617.1904 or 480.922.0700 today.