Strengths

BUSINESS & FINANCIAL SERVICES PILLARS

Arizona is home to more than 38,877 business & financial services establishments that are leading the way into the future of the services industry. Arizona business & financial services companies find new ways to integrate technology and support business growth.

CRITICAL BUSINESS & FINANCIAL SERVICES CLUSTERS

Arizona’s high level of industry concentration is especially notable in three areas.

Tempe Town Lake

Tempe Town Lake resides along the Salt River in downtown Tempe. Arizona State University’s 13,000 business students support this assembly of highly impactful financial and insurance businesses.

Price Corridor

Chandler, in Phoenix’s southeast valley, hosts the Price Corridor, a congregation of high-capacity utilities, residences and leading finance companies.

Desert Ridge & Kierland

In the North Phoenix Valley is Desert Ridge and Kierland, an offering of prime office space surrounded by upscale shopping and entertainment amenities.

First in the nation
FinTech Sandbox

Finance

Arizona is a global leader in financial technology with the launch of the Arizona FinTech Sandbox. This program makes Arizona the first state to launch a sandbox that shepherds the development of new emerging technologies. Startups in the state are revolutionizing banking, insurance and payments. Zelle, a peer-to-peer payment platform, is innovating how businesses and consumers conduct transactions. With 6,070 financial establishments, including some of the largest in the country, the finance innovation ecosystem is supported by industry veterans. JPMorgan Chase & Co., America’s largest bank with assets of more than $2.6 trillion, developed a 67-acre campus in Tempe.

Insurance

Arizona companies are rethinking the insurance process with digital applications. Root Insurance, which operates in Chandler, is the nation’s first licensed insurance carrier powered entirely by mobile. On Q Financial, a mortgage services company, moved its corporate headquarters to Tempe, citing the access to a quality talent pipeline and the rapidly growing business & financial services sector. With the fastest rising insurance job growth in the nation, leading companies are taking advantage of the growing talent pool. State Farm employs about 7,200 people with plans to continue adding to its regional headquarters. USAA employs 4,700 people in Arizona, serving the state’s valuable military members and veterans.

Fastest rising insurance
job growth in the nation

Emsi, 2023

Cybersecurity

In today’s world, we message our coworkers questions about a project through an app, we access our files in the cloud, we purchase business support programs online using a credit card. While business goes online, this digital world leaves us at risk for cyber attacks. Arizona is a national model for cybersecurity best practices. Companies and government organizations in Arizona are keeping the business & financial services industry safe from cyber attacks, protecting data, employees and assets. The Arizona Cybersecurity Team, a public-private partnership among industry and government leaders, ensures Arizona is the most cyber-prepared state in the nation with sophisticated cybersecurity capabilities and a strong pipeline of skilled talent.

TOP 5

concentration of business support

services companies

Emsi, 2021

Business Support Services

Business support service companies in Arizona specialize in a variety of assistance, from legal and consulting to web hosting and cybersecurity. More than 27,709 establishments are driving continual growth across the state, innovating and changing the way we do business. GoDaddy, the world’s largest technology provider dedicated to small businesses, is headquartered in Scottsdale. Kudelski Group provides hardware and software digital security to companies around the world from its North American headquarters in Arizona.

Data Centers

Arizona’s reliable power, affordable and abundant land, robust fiber connections and lack of natural disasters make it the prime location for data centers. Arizona has also become a champion of sustainable water management techniques, allowing data centers to thrive. With 267.6 megawatts, the state is in the top five in the nation for total inventory. Adding to that inventory is Microsoft, which is developing world-class data center campuses to support the growing demand for cloud and internet services in Arizona and across the Western United States. The campuses in El Mirage will be among the most sustainably designed and operated in the world.

TOP 5

in the nation for total

data center inventory

CBRE, 2021