Why Discovery Oasis
Aside from access to physicians and scientists at Mayo Clinic and Arizona State University, the Phoenix area offers an ideal climate, geographic location and economic development infrastructure. Discovery Oasis is an exceptional co-location opportunity for companies with biomedicine, health sciences, medical technologies, big data, and computational focus.
2010-2021 GDP of the Phoenix metro area
Source: Statista Research Department, 2022
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
275B
250B
225B
200B
175B
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
275B
250B
225B
200B
175B
37.2
Median age of population, making Greater Phoenix the sixth youngest metro in the U.S.
Source: ACS 1-year, 2019
4.95M
A metro population of 4.95, which is projected to 5.64 million by 2029
Source: AZ Office of Economic Opportunity
72.5%
Greater Phoenix represents nearly three-quarters of the state’s economy
Source: BEA 2018
36%
Greater Phoenix operating costs average up to 36% less than in California
Source: Applied Economics Metrocomp Tool
Average temperature of 72 degrees and more than 300 days of sunshine annually.
Diverse amenities of a major metropolitan area, without the high cost of living.
Something for everyone: fine arts, sporting events, and unique dining.
Nationally ranked schools and globally renowned universities.
A lifestyle second to none
As the nation’s fifth-largest city—and one of its fastest-growing—the sunny, smiling metropolis of Phoenix, Arizona offers the amenities of a big city amid a strikingly beautiful, rugged Southwest landscape. Surrounded by mountains on all sides, Phoenix has more acreage of parks and preserves than any other major destination in the U.S., and residents explore and enjoy this beautiful public land by way of hundreds of miles of trails.
Beyond its natural endowments, Phoenix is a fast-paced, dynamic, thriving American municipality, offering all the amenities of a sophisticated urban community at a lower cost than most major cities. It is also home to a close-knit local MedTech community that spans the Phoenix Metro area, including the revitalized Downtown Phoenix Warehouse district, Arizona State University in Tempe, and SkySong, the ASU Scottsdale Innovation Center.
A skilled, diverse talent pipeline
The Greater Phoenix region offers a skilled, diverse workforce fueled by globally recognized universities and community colleges. These institutions prepare highly qualified graduates for in-demand disciplines within biomedicine, health sciences, medical technologies, computational and big data.
The Mayo Clinic College of Medicine and Science, Arizona State University, Maricopa Community Colleges, Grand Canyon University, Northern Arizona University, and the University of Arizona are among more than 40 universities and institutions of higher learning preparing Greater Phoenix talent for today’s industries.
Greater Phoenix has an extremely competitive workforce regarding training, quality and availability of workers while maintaining one of the lowest costs for labor in the nation.
40+
More than 40 universities and other institutions prepare the market’s workforce.
Source: NCES
30.1%
Projected employment growth in the healthcare & biomedical industries over the next decade is 30.1%, compared to 16.7% nationally.
Source: Lightcast 2020 Q1
2500+
There are more than 2,500 active, enrolling or recruiting clinical trials in Greater Phoenix.
Source: ClinicalTrials.gov
$3B
The region has made $3 billion in strategic investments in emerging healthcare and research capabilities through 2021.
Economic development resources
Established in 1989, the Greater Phoenix Economic Council (GPEC) actively works to attract and grow quality businesses and advocate for the competitiveness of Greater Phoenix.
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The Arizona Chamber is committed to ensuring economic growth and prosperity for all Arizonans, advocating for free-market policies, and working to advance Arizona as a leading player in the global economy.
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As the state’s leading economic development organization, the ACA advances and strengthens Arizona’s economy by recruiting out-of-state companies, growing existing businesses, and creating new jobs in targeted industries.
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AZBio is a not-for-profit trade association supporting the growth of Arizona’s life science sector. AZBio advances the economic interests of the bioscience community and creates a forum for engagement, connection, and collaboration.
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