Phoenix is the capital, and largest city of the state of Arizona. Also known as the Valley of the Sun, Phoenix is the sixth most populous city in the United States and 13th largest metro area by population with approximately 4.3 million people. The Phoenix Metro area alone accounts for about two thirds of the state's population.
Arizona consists of 15 counties and shares borders with New Mexico, Utah, Nevada, California, and Mexico. Arizona's border with Mexico is 362 miles (582 km) long, on the northern border of the Mexican states of Sonora and Baja California and has six border crossings.
Known as the "Grand Canyon State", the tourism industry flourishes in Arizona where National Parks, Forests and Monuments are abundant and because of its year-round perfect weather (over 300 Sunny days a year), Arizona is ideal for various activities.
Phoenix Sky Harbor is currently the 10th busiest airport by total passenger boardings and total passenger traffic and the 17th busiest airport in the world in terms of aircraft movements.
Arizona's top 5 exports industries are Electrical Equipment, Machinery, Mineral & Ores, Transportation Equipment, and Computer & Electronic Products.
Since 2004 there has been an 84% Export Growth in Arizona to Foreign Trade Agreement Partners in Arizona. Mexico accounts for Arizona's largest export market followed by Canada, reinforcing the importance and influence of the NAFTA agreement. Arizona's top 5 Export Markets are Mexico, Canada, United Kingdom, China, and Germany.
In 2013, 83,000 people in Arizona were employed by affiliates of companies that are at least 50% foreign-owned and 27% of all manufacturing workers in Arizona depended on exports for their jobs. In 2014, Arizona exported over $21.1 billion in goods and services to foreign markets.
Agricultural and Merchandise exports are important to Arizonaâ€™s economy, totaling more than $1.5 billion in agriculture and $21.1 billion export shipments of merchandise (Mexico accounting for 40.6% of the market) in 2014.
There are currently many established international companies in Arizona, mainly in the aerospace, manufacturing, biotechnology, mining, medical equipement, and renewed energy industries. Of these companies, Canada accounts with the most (241 companies) followed by the UK, Germany, Japan, and France. Mexico holds the 6th position with 33 companies.
Accompanied by young talent, Arizona is home of many well-renowned universities and educational institutions such as Arizona State University (currently the number one instition for global sustainability, The Supply Chain Management program ranks #3, and the Information Systems program ranks #12 in the nation), University of Arizona in Tucson (ranked #7 in the nation for entrepeneurship), Thunderbird School of Global Management in Glendale ( ranked globally #1 for International Business).
Key Target Sectors: Advanced Manufacturing, Aerospace and Defense, Advanced Business Services, Renewable Energy, IT/ Software, Bioscience and Healthcare, Optics/ Photonics, Research and Development.
Competitive Tax Structure: To encourage greater investment, the state reduced long-term capital gains taxes by as much as 25% for property acquired after 2011.
For both business and individuals, there is no franchise tax, no business inventory tax, and no estate tax.
When Arizona's Corporate Income Tax Rate is phased down from 6.5% to 4.9% by 2017, Arizona will have the third lowest corporate income tax rate among all states with said tax.