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Arizona

A guide to help you understand the ins and outs of business in Arizona

Overview

Arizona is located in the Southwest United States. The state is known for its warm climate and desert landscapes. Phoenix is the state capital and its largest city. Arizona is the 6th largest state by area but has a growing population of about 7.69 million people, making it the 14th most populous state. Arizona's Gross Domestic Product is $598,188,800,000.

Arizona's top industries are aerospace and defense, bioscience, manufacturing, mining, technology, and tourism. The state is home to many high-tech companies and has a growing semiconductor manufacturing sector. Tourism, particularly to the Grand Canyon and other natural attractions, is also a significant contributor to the economy.

Arizona exported $38,100,000 to Qatar, with its top trade sectors strongly anchored by civilian aircraft, spacecraft, and aerospace parts. Additional leading exports driving this growth include nuclear reactors, industrial boilers, mechanical machinery, and electrical machinery alongside sound and TV equipment.

Arizona has a flat corporate income tax rate of 4.9%. The state has expanded its international logistics infrastructure to include four official foreign trade zones, serving key global hubs like Nogales, Tucson, Phoenix, and San Luis. Additionally, Arizona continues to attract major capital investments through targeted economic incentive programs administered by the Arizona Commerce Authority. These initiatives include the Arizona Competes Fund deal-closing grant, alongside specialized, partially refundable tax credits tailored for high-wage job creation, the establishment of manufacturing facilities, and research and development activities.

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