As more manufacturers look to bring operations to the U.S., the Phoenix metro is seeing an uptick in interest from international companies considering moving to the Valley, experts say.
So far in fiscal year 2023, the Greater Phoenix Economic Council said it is working with about 61 international businesses, a quarter of its total business prospects, to find a site in the Valley — an 85% increase from about a decade ago.
This represents about 14,719 jobs and nearly $20 billion in investments and is the highest known number of international companies that have considered moving to the greater Phoenix region in recent decades, GPEC data shows.
In the past several years, the heightened interest can mostly be attributed to supply chain disruptions, a push for more domestic manufacturing, more product demand and Canadian companies eyeing sites close to California, said Chris Camacho, CEO of the economic development nonprofit.
