A 10-year journey of growth, resilience, and determination – this is the story of Arizona’s economy, which has boomed over the past few years and has become a benchmark of national success.
At the heart of this narrative is a simple but powerful message: policy matters. This principle is reflected throughout the Coffee and Common Sense event hosted by the Common Sense Institute, Arizona (CSI) on Tuesday, bringing business leaders, policy experts and legislators together to sustain the state’s rapid economic development and momentum. We have considered the key elements necessary to global stage.
That was the underlying message at the recent “Coffee and Common Sense” event, a gathering of business leaders, policy experts and legislators hosted by the Common Sense Institute Arizona (CSI). As a non-partisan, non-profit organization, CSI specializes in in-depth economic analysis, bridging the gap between economic development and public policy. The symposium served as a platform for the exchange of ideas and insights on Arizona’s rapid economic growth and the factors critical to sustaining its momentum in the global economy.
Glenn Farley, CSI’s director of policy and research, provided a comprehensive overview of the economic landscape in Arizona. Farley’s findings show the state’s resilience in the face of the pandemic, with net immigration levels soaring and jobs added to the workforce steadily increasing. He noted that while Arizona’s manufacturing sector has had a renaissance over the past decade, contributing billions of dollars to Arizona’s economy, states like California have gone bankrupt.
What’s at the heart of Arizona’s growth? The answer, a sentiment expressed by Danny Saiden, CEO and Chairman of the Arizona Chamber of Commerce, is that it has been implemented over the past decade as the state emerged from the Great Recession. It can also be traced back to a series of business-friendly policies. Former Gilbert Mayor Jen Daniels and Pivot Manufacturing CEO Steve Macias are also present during a panel discussion.
Daniels emphasized the importance of bipartisan collaboration and data-driven approaches, citing a recent housing report with former Democratic Senator Sean Bowie as a prime example. To address Arizona’s critical housing shortage, the report calls for streamlining the permitting process and adapting to market changes throughout the year.
Macias spoke about the challenges facing the manufacturing workforce and the need for strategic solutions to further strengthen Arizona’s thriving industry.
Seiden closed the panel with a glimpse into the future, exploring potential legislation aimed at strengthening the burgeoning state’s economy. By improving water infrastructure, reducing bureaucracy, and supporting job creators, these policies promise to continue fueling Arizona’s rapid growth.