How Phoenix looks to grab its share of new emerging industries

The Phoenix market is already an emerging region for manufacturing, biosciences and semiconductors.

But in the future Arizona could become the center of newer technologies in sectors such as defense and aerospace — particularly for advanced air mobility, or air taxis, and electric vehicle takeoff and landing (eVTOL) aircraft.

“That’s the next generation of what’s going to happen here,” said Chris Camacho, president and CEO of Greater Phoenix Economic Council. “We try to stay on the leading edge of where technology is going and really try to understand what needs those kinds of companies have.”

Advanced air mobility is a technology that will be further developed in the U.S. over the next decade, Camacho said. It’s one of several industries that Camacho and a large Phoenix mission including government leaders and more than 30 private sector representatives discussed with Congress in Washington, D.C., during a visit in early May.

“We’re getting some of the highest-level engagements in Congress and the administration because we’re building some of the most dynamic facilities in the country,” Camacho said.

The Phoenix region has become a top market across sectors such as microchips, data centers, biosciences and manufacturing. The state has been working to expand resources such as water, power and roads to support the ongoing population and business growth.

GPEC leaders travel to the Capitol every two years to discuss the Grand Canyon State’s standing in major sectors and its needs for growth, while also learning about new industries, challenges and funding opportunities for Arizona. They take advantage of opportunities to meet with major companies and leading organizations in various sectors.

Energy grid resilience grows in importance

Infrastructure for transportation and energy were key topics as the U.S. figures out how to bring more power online through a variety of resources such as natural gas and nuclear power.

“We’re also grappling with how we expand the resiliency of energy grid as an example — that’s affecting our direct ability to keep growing and cultivating semiconductors and electric vehicles,” Camacho said.

Across energy, transportation, biosciences, semiconductors and other sectors, the Phoenix delegation met with a host of leading companies, departments and organizations during their trip. This included meetings with U.S. Space Force, Honeywell Aerospace, the Electric Power Research Institute and U.S. Department of Transportation.

Additional funding opportunities from the CHIPS and Science Act will also become available for businesses in the semiconductor industry. Part of the trip to D.C. is making sure Arizona is prepared for the next phases of funding, Camacho said.

When Camacho first attended these meetings about a decade ago, he said they were largely focused on advocating for increased investment in the defense sector and the protection of Arizona’s military bases.

“Now today that’s still what we talked about but it’s also — there’s so many other industries that have tremendous opportunities,” he said. “It’s become a much more multifaceted and expanded mission.”