Are you thinking of developing land in Arizona? If not, maybe you should. The Grand Canyon State offers many promising benefits for land development. From its awe inspiring scenery to its rapidly growing economy, Arizona makes for a wise investment. Let’s learn below what the state has to offer.
A Flourishing Job Market and Growing Economy
One of the biggest draws for land developers in Arizona is its rapidly developing economy. With the current economic situation throughout the country, Arizona’s still stands strong. This is largely due to its business-friendly practices, incentives, and tax policies.
Manufacturing, technology, healthcare and various other industries, are choosing Arizona as their home. It also currently ranks as one of the top ten states for new startup businesses. The job market is booming in response, and more infrastructure is being built to meet the needs of new businesses and investors.
Affordability
Arizona is quickly becoming one of the most popular states to move to within the nation, but it’s still comparatively cheaper than many other states. The cost of living remains close to the national average, including within major cities.
Tucson for example, was recently ranked as one of the top ten most affordable cities in the entire country. Phoenix, one of the largest cities in America, still only falls slightly above the national average. Property taxes also fall below average, and housing throughout the state remains affordable.
For developers, another huge incentive is the affordability of the land itself. It’s amongst the cheapest in the nation per acre.
Scenic Beauty and Outdoor Activities
Arizona is the sixth largest state in the country and offers an incredible variety of natural landscapes and outdoor activities. The only state to house all of the country’s deserts, there are four separate desert regions spread out within the state, each offering their own unique beauty and ecosystems. Additionally, Arizona has mountains, forests, and even snow in the northern parts.
The Grand Canyon is Arizona’s most famous park, drawing five millions visitors per year. But there are over 20 other national parks, and more than 30 state parks altogether. The Petrified Forest, Lake Havasu State Park, Catalina State Park are some of the most popular, but all attract countless visitors per year.
Cultural Diversity
Arizona is known for its rich cultural heritage, drawing in people from all walks of life. It’s held as one of the top ten most diverse states. There are over 20 indigenous communities within the state, and additionally, roughly 13% of the population immigrated in from other countries.
Larger cities like Phoenix clearly reflect this diversity, with an extensive selection of museums, cultural centers, art and music scenes, and restaurants. There are also festivals, fairs, and a wide variety of other cultural activities happening year round, which attract millions of tourists and stimulates the economy.
Final Thoughts
Despite its many beautiful deserts, Arizona is a fertile location for development. Between its thriving economy, multiculturalism, natural beauty, and affordability, it has all the qualities that make for a good investment.
At APX West we know Arizona land development like the back of our hand and are dedicated to helping clients aiming to expand their personal investment portfolios. We offer consulting services and guidance to clients in the early stages of the development process, to ensure they make the most out of their investments. If you’d like to learn more about land development in Arizona, or have a project you need support with, contact us at 928-412-3570.
