With improvements in areas like job growth and population increases, Arizona boosts its ranking by six places in Forbes' "Best States For Business" study, landing 17th overall.
Out of six major categories, Arizona's top showing in the study was in "growth prospects" placing fifth. Notably, it also ranked 10th in labor supply which covers variables like educational attainment, net migration and population growth, and 16th in current economic climate.
Arizona is also expected to continue to rank among top states when it comes to economic growth, job gains and population increases this 2019. A forecast made at Arizona State University's annual Economic Forecast Luncheon back in November 2018 predicts another year of national economic growth of around 2.5 percent with the state's jobless rate of 4.7 percent improving to as much as 3.9 percent by the end of 2019.
2018 also saw Arizona ranked fifth among the states for personal income gains, sixth for gross state product or output and seventh for job creation.
As for population growth, census figures in December 2018 showed Arizona as the fourth fastest-growing state in the United States, improving from sixth place in 2017. The state posted a 1.7 percent growth rate between July 1, 2017, and July 1, 2018, with more than 122,000 people moving to Arizona. Arizona's overall population as of the middle of 2018 was at 7,171,646.
Arizona Is 4th Fastest Growing US State & Jumps 6 Spots In Forbes' Best Places To Start A Business