At the invitation of the East Valley Partnership, a non-partisan group of public and private sector stakeholders dedicated to advocating for regional success, I had a special chance recently to offer some facts on the Arizona economy and my thoughts on the opportunities and challenges ahead. To a room of about 500 people, I shared some concerning data that confirms that Arizona's economic health is not at the rate previously believed.
To the surprise of many, Arizona's economy has rebounded from the recession, but only to the extent that it currently mirrors 2006 levels. Furthermore, Phoenix lags significantly behind Detroit, Michigan - one of the most U.S. cities hit hardest by the recession - in terms of recovery.
That is not to say that hope eludes us. To the contrary, both Phoenix and Arizona possess incredible potential in terms of talent, technology and entrepreneurship, all of which can help to make us an economic leader. However, such a turnaround will require a new mindset, a committed, strategic approach and the collective will of our communities. Other cities and states have demonstrated that it is imperative that we make some decisions about the direction and outcomes we want for our state and begin actively taking steps to move forward.
If you would like to learn more, my presentation is available on my website and video of my full talk will be added soon.