Three-peat. Recent data from the US Census Bureau revealed that for the third straight year, Maricopa County had the highest population growth rate in the nation.
Between July 2017 and June 2018, Maricopa County attracted 81,244 from out-of-state. In other words, over 200 people moved to the Valley every day. Presently, Maricopa is the fourth-largest county in the nation, providing residency for over 4.4 million people.
The influx of people has a cyclical effect with the local economy; that is, many people are attracted to the Valley because of its strong economy, and once here, these migrants contribute in expanding the economy further.
“Arizona is open for opportunity — and the word is out,” Governor Doug Ducey said. “For the third year in a row, more people are moving to Maricopa County than any county in the nation. Arizona’s economy is booming. Paychecks are some of the fastest growing in the country. And we continue to provide an unbeatable quality of life. We will continue to focus on policies that expand opportunity, promote health and safety and keep Arizona an amazing place to live.”
Moreover, a recent report by the U.S. Bureau of Economic Analysis revealed that Arizona had the fourth-highest wage growth rate in the nation last year (5.8 percent) and the fifth-highest personal income growth rate (5.5 percent, which eclipsed the national average of 4.5 percent). It is no surprise that Maricopa County leads the rest of the nation in population growth.
“Arizona’s booming economy is delivering larger paychecks for workers and families,” Governor Ducey emphasizes. “Over the last year, personal income in Arizona increased at one of the fastest rates in the nation — and well above the national average — thanks to the hard work of job creators, entrepreneurs and employees. Arizona will continue to focus on setting the best economic environment to continue bringing more jobs and opportunity to our state.”
As the nation apprehensively awaits a recession and its potential economic abrasion, U.S. citizens are looking towards Arizona as a “safe haven” against the worst-case scenario. Because of the state’s low-income tax rates, impeccable business infrastructure, and unwavering governmental leadership, Arizona is poised to tackle a recession head-on.
“Arizona is going to perform much better than the U.S. because our fundamentals are much better than what they used to be,” explains state economist Jim Rounds. “I think the next expansion is where we really take off. We’re creating even more high wage jobs and very high-quality businesses that bring in thousands of employees and help us pace our infrastructures.”
Maricopa County is the hottest place in the nation for the third year in a row – and not just because of its high desert temperatures. Due to the state’s leadership, business acumen, and economic prosperity, citizens are noticing the Valley and all that it has to offer.