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New report predicts strong Tucson economy

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downtown tucson

New report predicts strong Tucson economy

TUCSON – Things are looking up for the Tucson economy. That is according to the latest economic outlook report from the University of Arizona’s Economic and Business Research Center.

The findings from the presentation of economist George Hammond show the city is on pace toward its fastest job growth in years.

“What that means is we are lowering the amount of poverty in our community, and we will be able to elevate our entire community and population,” said Tucson Metro Chamber President and CEO, Amber Smith.

That economic growth is being felt by the Chamber.

“We are working on workforce development because ultimately, as those companies come in and want to hire new employees – we have to be able to fill those positions,” said Smith.

The report showed many of the job gains were in the education and health services sector. It also showed real estate prices are on the rise, but still cheaper than other big cities on the west coast

That has proved to be an attractive factor for people from places like California.

“The higher wages we gain means we’re going to have more resources to re-invest back into the community, into infrastructure, into our parks and into public safety,” said Smith.