Sweetwater Ranch, Arizona - Economy

Economy

See also: List of major corporations in Phoenix

The tourism industry is Scottsdale's primary employer, accounting for 39% of the city's workforce. In 2005, Scottsdale attracted over 7.5 million visitors to the city, providing an economic impact of over $3.1 billion. The city of Scottsdale by itself is home to more than 70 resorts and hotels, boasting over 15,000 hotel rooms. This large hospitality market primarily caters to a higher-end, white-collar demographic.

The city of Scottsdale is third, after New York City and Las Vegas respectively, as having the most AAA Five-Diamond hotels and resorts in the United States. In 2008, AAA bestowed five such properties in Scottsdale with the highest honor: The Phoenician, The Canyon Suites, Scottsdale Camelback Inn, Four Seasons Resort Scottsdale at Troon North, and the Fairmont Princess Resort and Spa.

Scottsdale boasts the highest number of destination spas per capita of any city in the United States.

The region's year-round warm weather and abundant sunshine is a major factor in Scottsdale's tourism appeal. In particular, during the winter, thousands of wealthy tourists from the midwest, the northeast, and as far away as Canada, flood the area with long-term visits (known locally as "snowbirds"). These tourists, who often practice the same migration routine annually, often end up purchasing second homes in the area.

Over the past several years however, Scottsdale's growing abundance of trendy, high-end nightlife, upscale restaurants, art galleries and luxury shopping, has made it a highly popular travel destination for the younger, white-collar, more style-conscious, travel set.

The famed Mayo Clinic has one of its three major branches in Scottsdale. This and its resulting effects have made Scottsdale a strong destination nationally for medical care.

The aviation industry has also grown in Scottsdale, with the construction of Scottsdale Airport in North Scottsdale, in the 1960s. Today, it is one the busiest single-runway airports in the United States in terms of aircraft operations. Though there is little to no commercial air service, nearly all operations are corporate or general aviation.

The immediate area surrounding the Scottsdale Airport, known locally as the Airpark, has developed rapidly as a regional center of commerce. By 2004, the Airpark had grown to become the second-largest employment center in the Phoenix Metropolitan Area, with over 50,000 people being employed within a few-mile radius of the airport itself — notably in financial, retail, service, technological, design and manufacturing fields. The Airpark houses more nearly 2,500 individual businesses, with a combined economic impact of over $3 billion annually, and growing.

The largest employment center in the Phoenix Metropolitan Area is the combined central areas of Midtown and Downtown Phoenix, with an estimated 65,000 employees. Considering the many large, yet-to-be-developed parcels and opportunities for growth in and around the still highly-desired Airpark area in North Scottsdale, it is expected to overtake the central Phoenix markets in the near future, becoming the single largest center of employment in the Phoenix Metropolitan Area.

Among the companies headquartered in Scottsdale are APL, Dial, Fender, Go Daddy, Kahala, Kona Grill, Medicis, Paradise Bakery & Café, P.F. Chang's China Bistro, Rural Metro, iCrossing, Discount Tire, and Taser.