Phoenix Tops Nation in Manufacturing Plant Growth

Phoenix expects at least 14 major manufacturing facilities in the coming years, most in the country, says global real estate firm Newmark Group.

Phoenix topped the nation for both projected jobs added and manufacturing announcements in excess of $100 million, according to Newmark research. Newmark found that the Phoenix market had nearly 75,000 advanced manufacturing workers as of 2023.

Taiwan Semiconductor Manufacturing Co. and LG Energy Solution lead the way in Arizona. The average square footage of mega investments is 1.45 million square feet, while the average manufacturing lease has averaged about 45,000 square feet. High-tech and digitalization such as semiconductors, automotive and transportation, energy and biomanufacturing are four main manufacturing sectors driving much of the growth.