Arizona Ranks Top 5 In The Nation For Business, Innovation


PHOENIX, AZ (May 2, 2023) – Arizona’s business environment and innovation ecosystem have earned top accolades. Arizona ranked in the top 5 in Chief Executive Magazine’s list of “Best States For Business,” the second year in a row Arizona has placed in the top 5, based on a survey of nearly 700 CEOs and business owners in all 50 states.


Arizona was also recognized as one of the most innovative states in the nation, ranking in the top 5 according to the latest “innovation scorecard” report by the Consumer Technology Association (CTA). The scorecard evaluated policies on emerging technologies, broadband and education in science, technology, engineering and mathematics, or STEM subjects.


The report recognized Arizona as one of just thirteen “Innovation Champions,” the report’s highest designation, and assigned scores in several categories. Arizona received top scores for drones and advanced air mobility, self-driving vehicle operations and comprehensive telehealth offerings.


“Arizona is widely recognized as a top place in the country for business and innovation,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “With our world class universities and community colleges, modern infrastructure, low cost of doing business, and vibrant innovation ecosystem, Arizona is where good ideas and dynamic entrepreneurs can thrive.”


The state’s innovation ecosystem continues to grow, with the launch of Plug and Play Arizona, a global innovation platform that will accelerate startup growth and fuel innovation in advanced manufacturing.


Media Contact
Alyssa Tufts, Arizona Commerce Authority, [email protected]

About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit and follow the ACA on Twitter @azcommerce.