Arizona Could Add 1 Million Residents by 2026
August 14, 2018 at 5:35 am
Cathy Franklin | Phoenix
A new report projects that Arizona will grow by 1 million residents and add 500,000 new jobs in the next eight years.
As The Arizona Republic reported this month, the estimate by the state's Office of Economic Opportunity indicates that the Grand Canyon State will add nearly 543,000 new net jobs by 2026. The projection is based on a 10-year estimate that includes this year and last year, The Republic reported.
That rate of jobs growth would be a 1.7 percent annual growth rate, more than double the 0.7 percent annual growth rate expected for the country as a whole during that time, The Republic reported.
The report also predicted that Arizona's population of 7.1 million will increase to 8.1 million by 2026. Most of that growth will be in the Phoenix metro area, which will grow from 4.8 million residents to 5.5 million, according to the report.
Maricopa County, which includes Phoenix, and Yavapai County, which includes much of the Verde Valley, could see the highest rates of jobs growth, The Republic reported.
Such rates would be a marked increase from the 10-year period that ended in 2016. In that period, Arizona averaged just 0.2 percent jobs growth annually, according to the report.