Scottsdale and the surrounding Greater Phoenix area have benefited in the recent past from a national trend to diversify the financial industry base from its traditional hub on the Eastern Seaboard. Such efforts have provided companies with greater access to customers in the southwest and increased stability due to exceptionally low catastrophic occurrences due to weather. Companies moving into Scottsdale such as The Hartford, regional movements such as State Farm, as well as major Scottsdale expansions by such companies as Vanguard, Nautilus and Nationwide are all evidence of this trend.
The insurance and financial services sector has been established in Scottsdale since the 1970s when such major firms as Sentry Insurance and Scottsdale Insurance began their operations. In general, the sector offers higher value and higher paying activities than standard back-office operations. Insurance and financial services industries have experienced strong growth in the region and the national projections for future growth in both employment and output are above average. In fact, Scottsdale has become known as the national center for the Excess & Surplus (E&S) insurance sector. Business Service companies are attracted to Scottsdale for a variety of reasons:
An outstanding labor base with low relative cost of labor and a quality source of executive, administrative and managerial talent
Strong dependability of energy supply with no major natural disasters
Direct flight access for clients and corporate executives via the Scottsdale Airport, with seven day per week on-site U.S. Customs service
Available corporate office space
No corporate franchise tax
Low workman’s comp & unemployment insurance costs
Healthcare: Industry Overview
A strong local healthcare and bioscience industry cluster in the City of Scottsdale is the result of continued collaboration between local healthcare providers and innovative research and biotech companies. The Cure Corridor leverages Scottsdale’s highly-skilled workforce, of which 20 percent are in health or bio-related fields. The target industries in this cluster include pharmaceuticals, other biological products, medical laboratories and biotech research.
Scottsdale healthcare and bioscience jobs increased 18 percent from 2012-2017 compared to 15.9 percent in the Phoenix MSA and 10.7 percent nationally.
Tourism: Industry Overview
In the early days of Scottsdale’s hospitality industry, dude ranches and health spas flourished. In the 1960s the development of the local art industry and specialty shopping districts blossomed as the resort industry expanded. This ultimately gave way to the full service, amenity-laden properties that have made Scottsdale a successful destination for tourism for many years.
Today, Scottsdale is an internationally recognized tourism destination community, widely known for its golf courses, recreational amenities, climate and high-end resorts. An emerging Downtown with its urban “boutique” hotels, nightlife scene, numerous events and attractions, dining opportunities and art galleries complement the Old-Town western heritage and beautiful open spaces of the McDowell Sonoran Preserve to provide visitors a unique and exciting destination for travel.
Scottsdale Tourism industry figures are impressive:
Technology: Industry Overview
Scottsdale is becoming known as an emerging center for technology development and is increasingly becoming the location of choice for New York and San Francisco companies looking for national expansion. Its environment combines successful entrepreneurs, a highly talented workforce and a burgeoning high-tech industry cluster. It is also home to several Inc. 500 technology firms. Arizona State University’s SkySong, The Scottsdale Innovation Center has advanced the emergence of technology companies in the city, launching more than 100 startups since its founding in 2008. Arizona has made a concerted effort in recent years to create a business-friendly environment by cutting red tape and repealing overly burdensome regulations that would otherwise make business more difficult for innovative firms.
Scottsdale has a strong base of highly skilled software engineers, programmers and systems analysts to support this industry with a number of companies establishing software development centers of excellence in the city.
Innovation and Tech Company Support Infrastructure
Over the past 20 years, Scottsdale technology companies have developed expertise in several key sectors that have made them industry leaders. Specific technology clusters that have emerged in recent years include wireless payment systems, security software and enterprise software.Source with Permission: www.choosescottsdale.com