Talking economics at TRE Daily
There’s no doubt about it: The USA economy is in the midst of a significant slowdown. We’re not economists at TRE Daily, but we know that Arizona is hard hit like other states. Arizona is seeing declines in our housing industry and in consumer confidence. Reports by the University of Arizona’s Eller College of Management show downward trends. It’s not a pretty picture nationally or for our region.
But there are some bright spots. And as we all weather the economic storm, Tre Daily invites readers to look ahead to some good news in Tucson’s economic picture: 
- Tucson is considered a “rising star” in biotechnology by Business Facilities magazine. This national publication for corporate real estate professionals named Tucson to its list, citing expansion of bioscience opportunities in our area. We can be proud of our advances, like the Arizona Bioscience Park being envisioned in Tucson by the University of Arizona.
- Speaking of Tucson’s strong footing in research, technology and business, it’s important to mention our strength in the Astronomy, Planetary and Space Science area. Late last year the Eller College of Management released a study of the economic and tax revenue impact of this discipline – it’s amazing! From jobs generated to visitors attracted here, the influence of this group is tremendous. Beyond positively impacting our economy, these facilities (think Kitt Peak) are world-renowned and continue to be an outstanding part of our way of life.
- Announced this year: Tucson is in the top 50 of more than 363 areas surveyed by the US Census Bureau in terms of population growth. Lots of people are moving to Tucson, making us the second fastest growing region in Arizona.
- Employment opportunities will grow in an interesting segment: Natural Resources and Mining. That’s according to the state’s Department of Commerce. This year that sector showed a 17 percent increase in employment with 10 percent growth expected next year. More news in that sector: Regional employer Freeport-McMoRan Copper & Gold is No. 140 on the Fortune 500 list this year (and thus leads the list of top-ranked Arizona companies on the prestigious magazine’s honor roll.)
The above examples are part of energy stirring in the Tucson economic scene. It’s bringing us tourism as well as retirees and relocating workers looking for a better quality of life. Industries like health care and technology also are offering opportunities. So, while economic pessimism can’t be overlooked, TRE Daily says to take heart! What do you think? Please comment about where you see economic opportunities in the future!
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