Business and Economy
Tempe, though seemingly removed from the many other United States business centers, is actually the home to a thriving business community. In actuality, the city has a prime location near Phoenix, which contributes to it success in attracting and keeping companies here.
Tempe has the highest concentration of high technology firms in Arizona. In addition, it has the densest industrial area in Arizona, and represents the highest concentration of businesses in Arizona. While Tempe represents less than four percent of the state’s population, more than 15 percent of Arizona’s high-tech companies are located in Tempe. The city is actually the 7th largest in the state.
Tempe also is home to more than 106 office complexes and developments.
Arizona State University’s Research Park is an example of the type of developments found here. The park was established in 1984 to help build relationships between the university and industries and covers 323 acres with tenants primarily in research and development.
Major companies located in the Research Park include Motorola Labs and Edward Jones Brokerage.
The Research Park boasts more than 18 acres of an environment of mature landscaping, three lakes, six miles of jogging paths and tennis courts.
Tempe is the home to Honeywell, America West Airlines, Medtronic Microelectronics, America West Airlines, Motorola and Chase Manhattan bank, among many others.
Tempe’s favorable tax structure and proactive approach to business development, combined with its prime location, creates the ideal climate for businesses to grow and prosper.
As a city, Tempe has started an initiative to foster business growth and encourage development that allows for creativity in economy. The city has exploded in the past two decades, fostered by the development of high-tech industry, financial, insurance, tourism and academic ventures.
Demographics
Tempe is in Maricopa County and has population estimated at about 160,000 people.
The median income for a household in the city is about $43,000, and the median income for a family was $55,000
Men had a median income of $36,400 versus $28,600 for women.