With the country in constant ebb and flow when it comes to business, and new business hotspots popping up over time, Phoenix has distinguished itself as one of the strongest and most open developing markets for business.

JLL research has shown that Phoenix could very well push 3 million square feet of new office space for lease this year. Even Phoenix’s current numbers of 2.61 million has pulled ahead of former leader Chicago which came in at 2.6 million. Numbers like these are very attractive for incoming business, and boast an open world for these new businesses to join in with and claim.

The good news doesn’t stop here for Phoenix either. Property asking prices ranging from the top of the line to class B improved between 5.2% and 6.4% according to JLL’s research.

As well, Phoenix is experiencing some of its lowest vacancy numbers since the recession at 19.7%, a huge increase from its 2011 numbers of 28.1%.

According to the Economic and Business Research Center (or EBRC) in Arizona, 2016 will see significant increases in personal income, retail sales, population, and residential building permits, with projected increases in the following years as well.

Phoenix is booming, and the ceiling to this increase has yet to be realized. The area is exploding in opportunities, and the business world is certainly realizing and taking advantage.

While many cities and states continue to struggle bouncing back from the recession, Arizona, and especially the Phoenix area, have shown a strong ability to rise in the face of adversity.

According to Phoenix Forward which is a collaboration of the Greater Phoenix Chamber of Commerce and the Arizona Commerce Authority, City of Phoenix, and Maricopa County, the area ranks number 3 in tech job growth, as well as bringing in an estimated 9,000+ new jobs across all sectors.

When it comes to the numbers, Phoenix has proven itself a hotspot for business and growth, far beyond just the warm weather.