Eight cities across Greater Phoenix are now ranked among the nation’s top 10 for economic expansion, according to a recent Coworking Cafe report.
Between 2019 and 2023, the Valley surged ahead with standout growth across multiple categories. During this period, roadways expanded by nearly 26%, the metro’s GDP rose 42%, and new business applications jumped 61%.
Danny Court, principal and senior economist with Elliott D. Pollack & Co., says the results highlight years of coordinated efforts:
“Arizona and Greater Phoenix have been on an impressive run for economic development, supported by a favorable tax and regulatory environment. State and regional agencies deserve credit for recruiting high-value industries after the Great Recession. Those investments are paying off in jobs, housing, and long-term growth.”
The Arizona Commerce Authority adds to the optimism, noting that more than 400 companies are currently evaluating relocation or expansion into the state.
Mesa Takes the Spotlight Among Large Cities
Among the nation’s biggest cities, Mesa earned fourth place overall. Median earnings in Mesa climbed 38% to $43,958, the second-highest increase nationwide. The city also placed third for employment growth and eighth for crime reduction, with housing stock up 5% during the study window.
Mesa Economic Development Director Jaye O’Donnell points to the city’s diverse mix of industries — from Apple, Amazon, and Google to advanced manufacturing firms like Magna International and Apex Power Conversion. The city has also seen a wave of investment at Phoenix-Mesa Gateway Airport, attracting aerospace names such as Gulfstream and Virgin Galactic.
Meanwhile, Downtown Mesa’s Arts and Innovation District, anchored by ASU’s MIX Center and local incubators, is helping fuel small business and entrepreneurship.
Phoenix also earned recognition, placing seventh among large cities. The city posted a 20% decline in crime, a 1% rise in employment, and a 34% increase in median earnings to $43,488.
Gilbert Tops the List for Mid-Sized Cities
For mid-sized municipalities, Gilbert claimed the No. 1 spot nationwide. Employment grew 2%, unemployment dipped 1%, and housing stock expanded 16%. The town also recorded a 13% increase in educational attainment and a 32% jump in median income to $59,603.
Gilbert Economic Development Director Dan Henderson said, “These results reflect our commitment to building a community where both businesses and residents thrive. Strategic investments in workforce and infrastructure will keep Gilbert at the forefront of innovation.”
From 2014 to 2023, Gilbert added more than 23,000 jobs and facilitated $2.3 billion in capital investment. Nearly half its adult residents now hold bachelor’s degrees, far exceeding the national average. Projects like The Ranch, a 300-acre mixed-use site, are expected to further drive job creation and economic diversification.
Chandler also performed well, ranking fifth among mid-sized cities. Educational attainment grew 13%, housing units rose 14%, and crime dropped 24% — one of the sharpest declines nationwide.
Goodyear and Surprise Shine Among Small Cities
Goodyear topped the list of small U.S. cities, with a 32% jump in educational attainment, nearly 30% population growth, and a 38% increase in housing stock. The city also saw median income rise 30% to $50,209.
Surprise landed in fourth place among small cities. It ranked second for employment growth and unemployment reduction, while also posting double-digit gains in both housing units and median income.
Peoria rounded out the top 10 small cities nationwide, placing second for unemployment reduction and sixth for housing growth. Population increased 13.5%, educational attainment rose 18%, and median earnings reached $51,465 after a 29% gain.
A Region on the Rise
Taken together, the rankings underscore Greater Phoenix’s broad-based growth. From large cities like Mesa and Phoenix to mid-sized hubs like Gilbert and Chandler, and fast-growing small cities such as Goodyear, Surprise, and Peoria, the region is setting the pace for economic development across the country.
