Arizona slipped from top 10 in Pentagon spending, but defense economy still strong - Phoenix Business Journal

By Tristan Richards – Cronkite NewsWASHINGTON – Pentagon spending in Arizona fell sharply in fiscal 2021, part of an overall decline in expenditures nationally that bumped the state from seventh place among states to 13th, according to Defense Department data released this fall.

“In terms of a good environment and a welcoming environment, Arizona is positioned very well to continue that growth in this industry,” said Todd Sanders, president and CEO of the Greater Phoenix Area Chamber of Commerce. Guymon also praised the “great talent” that comes out of the University of Arizona’s engineering department, which he said helps contribute to Tucson’s robust defense economy.Military contracts have long been a staple of the Arizona economy, which includes multinational defense manufacturers such as Boeing, Raytheon and Northrop Grumman, among others. But contract spending took a hit in fiscal 2021 both nationally and in Arizona, with contracts in the state falling from $15.7 billion to $12.

“Our portfolio is well positioned and our future franchise programs have a long runway ahead,” Jolivette said. The Pentagon also said that while eight of the 10 companies on its list of the top 10 contractors had been there before, Pfizer and Moderna “were both new to the list and are anomalies for traditional defense spending.”Over the past decade, Arizona has been as low as 13th among states for defense spending – in fiscal years 2016, 2017 and now 2021 – and as high as seventh place in fiscal 2020.

More missiles to destroy more countries and more humans. Made Right here in Arizona.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New Phoenix-area program launched to support Black-owned businesses - Phoenix Business JournalThe ImpactAZ 2025 program is looking for businesses in the real estate, manufacturing, professional services, information technology, hospitality and media and entertainment sectors. phoenix
Source: phxbizjournal - 🏆 254. / 63 Read more »

Buckeye, Phoenix approve new residential, storage containers projects - Phoenix Business JournalNew master-planned communities could bring thousands of new homes and multifamily units to West Valley communities, while in downtown Phoenix, the city is allowing a local design firm to bring more repurposed shipping containers for potential residential or retail uses.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Buckeye, Phoenix approve new residential, storage containers projects - Phoenix Business JournalNew master-planned communities could bring thousands of new homes and multifamily units to West Valley communities, while in downtown Phoenix, the city is allowing a local design firm to bring more repurposed shipping containers for potential residential or retail uses.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Item 9 Labs cuts costs before Sessions Cannabis acquisition - Phoenix Business JournalThe Phoenix cannabis company's new CEO said the changes make the company ready for rapid expansion as it enters its first international market with an acquisition in Canada.
Source: phxbizjournal - 🏆 254. / 63 Read more »

ElectraMeccanica (SOLO) makes Mesa plant its new corporate headquarters - Phoenix Business JournalThe decision to make Mesa the company's headquarters was made earlier this month and was one of the first moves made by new CEO Susan Docherty.
Source: phxbizjournal - 🏆 254. / 63 Read more »

City of Mesa opens workforce center to accommodate job seekers, area employers - Phoenix Business JournalThus far, the city of Mesa said the workforce center has worked with entities or companies such as Lucid Motors, Mesa Public Schools, UPS, FedEx, The Home Depot and Marriott Hotels & Resorts.
Source: phxbizjournal - 🏆 254. / 63 Read more »