Central Phoenix has been experiencing increased growth in recent years. Home to top medical academic institutions, Phoenix has the potential to become the nation’s healthcare and bioscience hub. The expansion of Phoenix healthcare institutes is critical to the region’s overall economic growth. Thanks to accelerated programs like our medical assistant program, Allen School contributes to this growth. Phoenix Chamber reports
that the boom can continue with a focus on retaining and growing existing companies while attracting new ones. Business retention is a critical aspect of Phoenix’s economic strategy as resident companies provide 80% of jobs. Thus, significant growth recorded in the local workforce and companies makes the region attractive to non-resident businesses.
Why Is the Healthcare Industry Booming in Phoenix?
Central Phoenix is the answer to advancements in Healthcare and Bioscience studies. It attracts more companies and a skilled workforce. So, let’s take a closer look into the strategic boom in the Phoenix healthcare industry.
Home to the highest number of healthcare workers in Arizona, Phoenix is a perfect ecosystem for healthcare innovation. “Experienced and well-trained workforce is among the top reasons healthcare and bioscience companies select Phoenix,” says Christine Mackay, a director at PCED. Phoenix is central to top healthcare institutions like:
- Dignity Health’s headquarters
- Banner Health System’s headquarters
- St. Joseph’s Hospital and Medical Center
- Phoenix is the 30-acre Phoenix Biomedical Campus
- University of Arizona
- Northern Arizona University
- Arizona State University
- Translational Genomics Research Institute
Construction work is nearing completion in the new Creighton University Health Sciences Campus, valued at $100 million. Midtown Phoenix is also home to diverse healthcare organizations, bioscience research centers, one university, and two hospitals. The current spur in Phoenix healthcare is also due to the region’s ease of doing business. Many company employees have their offices in the Park Central Building. The project has attracted more health-related companies and workforce to the region. More construction work is around Park Central, a fundamental attraction for healthcare industry players. The Barrow Neurological Institute headquarters, a high-rise building, will also be sited near Park Central. Phoenix is also home to WearTech medical device lab. Healthcare and Bioscience industries have multiple long-term positive effects on the community. They promote economic growth, creating a substantial positive impact in other sectors.
Arizona is making giant strides in revamping its healthcare infrastructure. In Phoenix, for instance, the City’s Bioscience healthcare facility is under construction. PCED data shows:
- The project has a value of $3 billion
- The portion of the facility under construction is over 4.5 m/sq/ft
- Over 7000 healthcare jobs to be available in Phoenix
The growth of venture capital funding for bioscience healthcare projects in Phoenix is one of the highest in the country. Hence, more commercial and residential buildings are constructed in the area. Rider Levett Bucknall reports that Phoenix has the fourth-highest number of crane activities in the US. In the last quarter of 2020, over 20 cranes were working in Phoenix. That’s the highest ever recorded. In mid-2020, Phoenix became one of the five cities with more constructions of high-rise buildings. A significant increase compared to the previous year. The boom in Phoenix healthcare and bioscience is not only based on quantity but also on quality. Phoenix has earned a reputation among regions that provide the most reliable medical services, furthering its regard as a medical hub. “The healthcare and bioscience institutes drive economic growth in Arizona,” said Chris Camacho, GPEC CEO. “Besides the thriving workforce and economic activities, Phoenix healthcare institutes provide high-quality services, making the state appealing to workers.” Healthcare is a critical economic sector in Central Phoenix. From the Phoenix Chamber survey, healthcare makes up 3 out of 5 employers in Phoenix. Healthcare creates about 60,000 jobs and adds $8 Billion to the economy. These healthcare companies have received several awards in recognition of their high-quality service.
Choose the Allen School of Health Sciences
The healthcare and bioscience sectors will continue to add significant jobs in Phoenix. One of the ways to ensure the region maintains its position as a leading healthcare provider is a well-trained and experienced workforce. Today’s healthcare employers need competent, skilled, disciplined, and trained employees. The ample supply and availability of skilled labor are excellent for attracting new businesses. Ready to start working towards a new career? The Allen School of Health Sciences is offering virtual campus tours for enrollment for our classes starting soon. Contact the Allen School today! We cannot wait for you to become part of the Allen School family. Visit www.allenschool.edu
or call us at (888) 620-6745
to learn more.
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