There is no question that the Valley has seen explosive growth over the past few years. Unlike the 2005 run-up that was primarily based in the construction and real estate sectors, today’s growth is the result of a decade of forward planning and investment in the creation of a more diverse economy for Arizona.
Did you know that Mesa now has more than 508,000 residents and is larger than Miami, Minneapolis, and Atlanta? Mesa is experiencing tremendous growth because it offers corporations and investors an attractive mix of available land, a growing educated workforce, and great transportation corridors.
City of Mesa Economic Development Director Bill Jabjiniak says that Mesa has been preparing for this growth for a decade. “The growth we are experiencing today is the result of a strategic vision we had to create a more diverse economy for Mesa. Over the past 10 years, we have been expanding our city services and infrastructure, investing in community assets, such as the Phoenix-Mesa Gateway Airport, and creating targeted economic development zones like the Elliot Road Technology Corridor. We created an environment that was ready for the market and it is great to see that our strategy has been a success.”
FORTUNE 100 COMPANIES AND MANY MORE
Mesa is already home to great companies, many of which have expanded in recent years. We are proud to have Apple, Google, Amazon, Banner Health, Boeing, Nammo Defense Systems, Northrup Grumman, Cessna, Gulfstream, Meta, CMC Steel, and many other large and small companies providing jobs to Mesa residents.
While Mesa has a long history with the health, defense, and aerospace industries, it is now also attracting electric vehicle, medical device, and semiconductor-related development. Mesa has additionally become a top location for industrial developers who view Southeast Mesa as the place for future job growth.
Check out some of the companies who have chosen Mesa in the past 12 months:
- Virgin Galactic selected Mesa for their new spaceship manufacturing facility and will bring hundreds of engineering and manufacturing jobs to the city.
- Gateway Grand has broken ground on a 2-millionsquare-foot industrial park in Mesa’s Pecos Advanced Manufacturing Zone.
- KP Aviation, an international aftermarket aerospace material and service provider, relocated their headquarters to Mesa and opened a 93,000-square-foot facility.
- JX Nippon Mining and Metals will be building two manufacturing buildings in Mesa totaling 240,000 square feet. They provide material support to the semiconductor industry.
- FUJIFILM Electronic Materials completed an $88 million expansion in Mesa to supply chemicals and advanced materials for the semiconductor industry.
- Bell Bank Park, the nation’s largest multi-venue sports and entertainment complex, opened this spring south of Eastmark. The 320-acre park is expected to host three million visitors a year and is already generating significant tourism revenue for Mesa.
- Gulfstream Aerospace, a world leader in business jet aircraft manufacturing and maintenance, announced that they will be opening a 225,000-square-foot facility at Phoenix-Mesa Gateway Airport.
- The Cubes at Mesa Gateway will bring upwards of 4 million square feet of industrial space to Mesa. Sitting on a 268-acre site, The Cubes will be the largest master-planned industrial park in the Southeast Valley.
- The Meta Mesa Data Center (Facebook), originally designed at 960,000 square feet, has broken ground in Southeast Mesa and has already planned to expand to 2.6 million square feet.
- Dexcom, a continuous glucose monitoring technology company, opened a new 500,000-square-foot facility. This is the second facility they have opened in Mesa.
- ElectraMeccanica is finishing up a 235,000-square-foot factory and technical center to produce their electric vehicle Solo. The facility is expected to hire 200 to 500 full-time employees.
A BRIGHT FUTURE AHEAD
On top of all these announcements, the pipeline of projects is truly what makes us bullish on Mesa. Back in 2018, there was only one new spec industrial building available in Mesa. At 147,435 square feet, it was the newest and largest available building in Mesa. The other available manufacturing and industrial inventory at that time was outdated and not designed to meet market needs.
Just four short years later, Mesa has completely transformed. Check out what is happening now:
- Currently, there are more than 177 million square feet of all types of development in review with the City.
- More than 42 million square feet of manufacturing and industrial buildings are planned or under development in Mesa.
- The City of Mesa is currently processing more than 340 commercial permits, and more than 800 commercial permits have been issued since January, which represents more than $812 million in construction valuation.
- More than 50 percent of the Incoming Prospects through the Mesa Office of Economic Development are manufacturing users. Mesa is seeing high interest from companies in the semiconductor and electric vehicle industries.
GROWTH=JOBS
According to the Bureau of Labor Statistics, as of May 2022, the number of people employed in Mesa is now 3 percent above pre-pandemic levels. The Arizona Office of Economic Opportunity projects 11 percent growth in manufacturing, 15 percent growth in construction, 14 percent growth in leisure and hospitality, and 19 percent growth in self-employment in the Maricopa Workforce area from 2021 to 2023. Long term, we can also expect to see massive growth in health, education, professional, and business service employment.
When we look at all the businesses that have selected Mesa for investment, we feel confident that our growth is sustainable. Jobs drive the economy and in turn drive real estate, construction, retail, tourism, and even restaurant growth. We remain excited about the future of Mesa and strong advocates for strategic economic growth and sustainable development.
John and Natascha Karadsheh are co-owners of KOR Properties, a boutique real estate brokerage serving the Valley of the Sun.
John is the Designated Broker of KOR Properties and has been a Multi-Million Dollar producing agent for over 20 years. He is an Accredited Buyers Representative (ABR) and Certified Residential Specialist (CRS), and serves on the Arizona Regional MLS (ARMLS) Rules & Policies Committee, ARMLS Appeals Committee, and the West and Southeast Realtors of the Valley Professional Standards Committee.
Natascha is a Multi-Million Dollar Producer and Accredited Buyers Representative (ABR). She is the Founder of Mesa Food Truck Fridays, Founder of the Falcon Business Alliance, a Member and Past-Chair of the City of Mesa Economic Development Advisory Board, and on the Board of Directors of the Greater Phoenix Economic Council.