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Arizona experienced a 5.5 percent increase in personal income from 2017 to 2018, according to the Bureau of Economic Analysis.

With the U.S. average personal income increase at 4.5 percent, Arizona was in the top five for its growth.

鈥淩ising personal income is always a good thing. And, for Arizona to have a 5.5 [percent] increase, it鈥檚 important for the households of Arizona, the people of Arizona and it鈥檚 also good for the overall economy,鈥� said Alan Maguire, The Maguire Company president and principal economist. 鈥淭he more money there is in personal income, the more money there is to spend at stores and events and on services,鈥� Maguire said.

Earnings were the leading contributor to personal income growth in 2018. 聽Industries such as construction, health care and social assistance; finance and insurance; professional, scientific, and technical services; and administrative and waste management services were the largest contributors from 2017 to 2018.

Arizona鈥檚 various jobs attract workers, and its skilled workers attract employers.

鈥淎rizona is creating a lot of jobs, we historically have created a lot of jobs. On average over the last half-a-century, Arizona has been a high job creation state. So, that makes people want to move here,鈥� Maguire said. 鈥淢ore jobs mean more people; more people mean more jobs. We have more people, which means businesses want to be here.鈥�

In addition to meeting workers鈥� needs, Arizonans have a variety of skills to offer that can meet an employer鈥檚 needs.

鈥淓mployers see other industries growing and they鈥檙e looking at a place they want to move because they want to expand. With Arizona they see a positive climate, they see a place that people want to move,鈥� Maguire said.

The jobs and skilled workers are not the only things that draw people to the state.

鈥淚t鈥檚 our positive business climate and our positive cultural climate that makes people want to live here and it鈥檚 why employers want to move here,鈥� Maguire said.

Maguire explained that leaders in Arizona excel at setting a positive tone and showing people what the state has to offer.

For example, he notes, 鈥淭he [Arizona] Commerce Authority has done a great job for the last decade encouraging new employers in Arizona and enticing employers in Arizona to expand.鈥�

The Arizona Commerce Authority is an economic development organization that works to recruit out-of-state companies and help Arizona companies grow and create new jobs.

鈥淪andra Watson, the president and CEO of the Commerce Authority, is a very positive person. That makes a big difference,鈥� Maguire said. 鈥淵ou meet a person like Sandra and you go, 鈥榃ell golly, if she鈥檚 in charge of economic development in that state out there, it must be a pretty positive environment. She鈥檚 going places.鈥欌��

He added, 鈥淭he same can be said about Governor Ducey. He comes across as a very positive person. When you meet him you go, 鈥楾his guy鈥檚 got energy, that state must have energy.鈥欌��

A ready workforce and strong economic developments, along with a welcoming atmosphere and positive lifestyle help Arizona stand out.

鈥淚t鈥檚 easy to get around, traffic is fine, streets are wide, stores are clean and great. It鈥檚 a wonderful place to live. And, all of that contributes to the positiveness and having a little more cash to spend with the higher personal income is even better,鈥� Maguire said.