Economic Development and the Arts (EDA) Subcommittee Meeting - 2026-02-11
Meeting Intelligence Preview
Meeting Summary
The Economic Development and the Arts Subcommittee meeting focused on two informational presentations with no substantive votes on land use or development matters. The Artist to Work grants program was presented, showing $1,755,346 awarded to 168 Phoenix-based artists and arts organizations in the current fiscal year. The Community and Economic Development department presented the first of a six-part economic overview series highlighting Phoenix's post-Great Recession strategic diversification, including 246 business locations since 2015 resulting in over 111,000 jobs and $74 billion in capital investment.
Development Activity (4)
TSMC Advanced Manufacturing Facility
Largest foreign direct investment in the country, advanced semiconductor manufacturing facility generating thousands of jobs, part of expected $165 billion total investment
Halo Vista
Development to support critical suppliers and innovation centers next to TSMC
Discovery Oasis
Major bioscience and biotechnology innovation hub designed to support biotechnology sectors
Downtown Phoenix Housing Pipeline
Over 10,000 downtown housing units opened since 2015 with strong pipeline of new units continuing
Market Signals (6)
Commercial Demand
Phoenix attracted more than $35 billion in foreign direct investment in 2024 alone, with largest sources from Taiwan, South Korea, France, United Kingdom, and Canada.
Housing Demand
Downtown Phoenix has added over 10,000 housing units since 2015 with a strong pipeline of future units, supporting the city's transition to an eighteen-hour economy.
Infrastructure
Light rail infrastructure investment has generated $8.4 billion in private investment across 326 transit-oriented development projects.
Sentiment
Phoenix ranked as top three city for economic growth in the U.S. in 2024, representing a dramatic shift from being ranked among weakest economies in 2009.
Labor
Educational attainment has increased significantly with 83% growth in residents with bachelor's degrees or higher since 2010, and 33% of working population now holds bachelor's degree or higher.
Commercial Demand
Since 2015, Phoenix has secured 246 business locations resulting in over 111,000 jobs created and retained with capital investment exceeding $74 billion.