51 Arizona Business Stats & Facts For 2025

Here are 51 business stats about Arizona for 2025.

Basics:

Population: 7,431,344 (US Census 2020)
Population desnity per square mile: 62.90
GDP: $508,344 (millions USD)
GDP Per Capita: $68,965
Median household income (in 2022 dollars): $72,581
Real GDP Growth Rate: 2.70%
Total Employment: 3.5m
Unemployment Rate: 3.5%

Rankings

% Share of National Economy: 1.86%
State Economic Growth Rank (out of 50): 18
Population Growth Rank (out of 50): 20
Business Growth Rank (out of 50): 6
State Growth Rank in Employment (out of 50): 45

Biggest Industries In Arizona By Revenue

1. Third-Party Administrators & Insurance Claims Adjusters: $30.7b
2. Hospitals: $26.6b
3. New Car Dealers: $26.2b
4. Property, Casualty and Direct Insurance: $24.7b
5. Public Schools: $21.2b
6. Drug, Cosmetic & Toiletry Wholesaling: $21.2b
7. Warehouse Clubs & Supercenters: $19.6b
8. Supermarkets & Grocery Stores: $18.9b
9. Electronic Part & Equipment Wholesaling: $18.2b
10. Health & Medical Insurance: $16.5b

Biggest Employers In Arizona

1. State of Arizona: 40,240 (1.1%)
2. Walmart: 36,843 (1.0%)
3. Banner Health: 28,310 (0.8%)
4. United States Department of the Air Force: 21,870 (0.6%)
5. Kroger: 21,123 (0.6%)
6. Wells Fargo: 15,000 (0.4%)
7. Maricopa County: 13,900 (0.4%)
8. United States Department of the Army: 13,740 (0.4%)
9. University of Arizona: 13,320 (0.4%)
10. Raytheon: 12,810 (0.4%)

Small Businesses In Arizona

Number of Small Businesses 650,151
Percent of bossiness that are small businesses: 99.50%
Number of employees: 1,100,000
Share of Employment: 42.40%
Number of New Businesses In The Past Year: 25,424
Number of Businesses That Closed In The Past Year: 17,808
Net Change In New Businesses: 7,616

Number of Businesses With No Employees: 537,216
Number of Businesses with 1-19 Employees: 99,466
Number of Businesses with 20-499 Employees: 13,469
Share of Businesses Owned By Women: 45.40%
Share of Businesses Owned By Veterans: 7.60%
Share of Hispanic Owned Businesses: 20.70%
Share of Businesses Owned By Racial Minorities: 12.40%

Fortune 500 Companies In Arizona

Number of Fortune 500 Headquaters: 10
Biggest Company: Avnet
Biggest Company Type: Wholesalers: Electronics and Office Equipment
Number of Employees: 15,300
Revenue (in millions): $24,311

Taxes In Arizona

State Corporate Tax Rate: 4.90%
State Corporate Tax Rate Brackets: $0

State Sales Tax Rate: 5.60%
State Sales Tax Rank (out of 50): 28
Average Local Sales Tax Rate: 2.78%
Max Local Sales Tax Rate: 5.30%
Average Combined Sales Tax Rate: 8.38%
Combined Sales Tax Rank (out of 50): 12

Minimum State Income Tax Rate If You’re Single: 3.00%
Minimum State Income Tax Rate If You’re Married: 3.00%

General Arizona Population Facts

In civilian labor force, total, percent of population age 16 years+: 60.10%
In civilian labor force, female, percent of population age 16 years+: 55.40%
Share of population which is foreign born: 13.00%
Mean travel time to work (minutes), workers age 16 years+: 25.5

Housing

Number of Housing Units: 3,239,581
Owner-occupied housing unit rate: 66.30%
Median value of owner-occupied housing units: $321,400
Median gross rent per month: $1,308
Households with a computer: 95.20%
Households with a broadband Internet subscription: 89.20%

Education

High school graduate or higher, percent of persons age 25 years+: 88.70%
Bachelor’s degree or higher, percent of persons age 25 years+: 31.80%

Also See

• Arizona Registered Agent Services
• Arizona Secretary of State Business Search
• How To Form an LLC In Arizona
• Arizona Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_Arizona
• https://www.ibisworld.com/united-states/economic-profiles/arizona/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-AZ.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/west/arizona.htm#eag
• https://www.census.gov/quickfacts/fact/table/AZ,US/PST045223
• https://www.50pros.com/fortune500