Maricopa County Ranks In Top 20 Counties For New Business Growth
Some U.S. counties are rebounding faster and stronger than others post-Recession. Several by a lot. What these places have in common is what’s called a “super city,” or county, with certain characteristics that drive growth.
In Arizona, Maricopa County is one of only 20 counties in the country that are driving over half the nation’s growth.
“Maricopa comes out ahead of the rest of the country on average," said John Lettieri, co-founder and senior director for policy and strategy at the Economic Innovation Group.
Lettieri's group just finished a study that says Maricopa and 19 other counties nationwide are responsible for more than half of all new business growth in the country. He says what these super counties have in common is population density, physical infrastructure, access to capital markets, diversified industrial bases, connection to global trade and immigrant populations who are involved in entrepreneurship.
“You have assets there— educational institutions, infrastructure, connectivity— that positions the region really well," he said of the greater Phoenix area. "What we see is a future where fewer and fewer places seem to be competing for that kind of top line growth level."
Lettieri said Maricopa County also beats the nation in job growth and establishment growth, ranking 11th nationwide in new businesses starts.