Glendale, AZ - Economic Development
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December 2014 – Issue 6
Glendale Economic Development Division
 

 
New locates coming to Glendale

  • Progressive Finance has selected Glendale as the location of their newest office, located at Talavi Corporate Center. Progressive is a consumer credit company based out of the Salt Lake City area that finances purchases such as furniture and appliances. The Glendale location will be their first expansion outside of Utah. The company will be creating 300-500 new jobs in the City and absorbing 20,000 square feet of office space. For more information on this exciting new project, check out the Business Journal’s article “Progressive Leasing opening Glendale center, hiring 500” here.

  • Whiting Systems, Inc. out of Little Rock Arkansas, has leased 5,000 square feet at 7535 N 63rd Avenue. This site will employ 5 initially and be used as a distribution point for the Western region where they will ship cleaning products for the trucking industry.
 

 

Manufacturing month recap

Governor Brewer declared October as Arizona Manufacturers Month.  The 2nd Annual Manufacturers Month celebrates the 4,500 manufacturers operating in the state of Arizona.  As part of the schedule of events Glendale partnered with the Arizona Commerce Authority and the Glendale Chamber of Commerce to host an event at the Glendale Public Library that focused on business development strategy for manufacturers.

To further improve manufacturing the Arizona Commerce Authority and RevAZ are developing the RevAZ Challenge.  This will help manufacturers grow their business by fast-tracking new products, processes and capabilities and will be done through a one-time matching grant competition.  RevAZ will be releasing full details on the program in the coming weeks.

 

 

Connect Bien

Maricopa Association of Governments has recently launched the Bien (Building an International Economic Network) program. This site allows businesses in Arizona to connect with one another and with business in Mexico and Canada, with the goal of improving commerce and trade opportunities in the region. Businesses can add information about their company to the site; visitors to the site can then find companies using various search criteria. For more information, click on https://www.connectbien.com or contact the Maricopa Association of Governments at 602-254-6300.

 

 

Glendale Staff represented at ICSC Western Conference

Glendale Economic Development staff attended the International Council of Shopping Centers’ Western Division Deal Making Conference that was held on October 1-2, 2014. This event provided the city the opportunity to connect with retailers, brokers, property owners and developers to promote retail opportunities in Glendale.

 

 

Seattle Competitor Market Recap

Glendale staff along with economic developers from other cities and various private sector members traveled to Seattle with the Greater Phoenix Economic Council as part of GPEC’s competitive market analysis initiative.  The trip primarily focused on Seattle’s thriving innovation and technology community; the group met with various incubators, real estate developers, brokers and innovation companies.

 

 

Glendale Festival Season Kicks Off Glendale Glitters lights

The Festival Season has begun in Historic Downtown Glendale, which spans 10 blocks and has many specialty shops located throughout the area. This year, Glendale Glitters kicked off its festivities on November 28th, with 1.5 million lights illuminating Downtown Glendale. The display remains lit nightly through January 10th when the Glendale Glitter and Glow party wraps up the festivities. And Downtown Glendale will host the Chocolate Affaire on January 30th and 31st, bringing a chocolate lover’s dream to the city.  For more details visit: http://www.glendaleaz.com/events/index.cfm

 

 

Glendale’s 3rd Quarter 2014 Building Vacancy RatesGlendale Growth

The industrial building segment of the market continues to lead the way in the city.  Vacancy rates have continued to drop, from 5.8% in 2nd quarter 2014 to 5.6% in 3rd quarter 2014.  This is well below both metro Phoenix and national vacancy rates.  Overall, Glendale’s industrial market occupies nearly 10 million square feet of space.
The retail market continues to hold steady, with vacancy rates remaining unchanged from the previous quarter at 7.8%.  Rates remain below the metro Phoenix average.

At 26.3%, office vacancy did decrease slightly from the previous quarter when the rate was 26.4%.  However vacancy remains higher than the metro average of 17.6%.

Glendale’s September 2014 Building Occupancy Rates are as follows:

 

Rate

Retail

Industrial

Office

Square feet Vacant

1,054,396

577,817

1,297,503

Square feet Occupied

12,510,619

9,785,368

3,630,378

Percent Vacant

7.8%

5.6%

26.3%

 

Market Comparisons:

 

Glendale:

Metro  Phoenix:     

National:

Retail Vacancy:    

7.8%  

10.1%

6.3%

Industrial Vacancy:  

5.6%

11.9%

7.5%

Office Vacancy:    

26.3%

17.6%  

11.2%

Source: Costar, 3rd Quarter

 

 

Spotlight on – Business Services

Glendale, and the state as a whole, is a strong location for business services activity with a large employment base that will continue to grow. Projections from Arizona Department of Administration show that Office and Administrative occupations as a group will add the greatest number of employees over the coming decade, creating 84,000 new jobs in the state.

Glendale is well positioned to tap into the industry’s future growth. Approximately 1.3 million in labor force live within a 30 minute commute of Glendale’s two largest office submarkets – the Talavi and Westgate areas. And 21% of Glendale’s workforce is in Business Services related occupations. Companies such as CSAA/AAA, Bechtel, Humana Healthcare, Delta Dental, Alaska USA Federal Credit Union and Empereon Constar have made Glendale their home. With the location of Progressive Finance to Glendale, the city continues to be an attractive location for companies to do business.

 

 

Meet the Glendale Economic Development Divsion:

  • Brian Friedman, Director
  • David McAlindin, Assistant Director
  • Jean Moreno, Program Administrator
  • Kristen Stephenson, Specialist
  • Suzie Ricard, Administrative Assistant
  • Visit us online now! Click here.