Arizona Secures Fifth Straight “Gold Shovel” Award for Business Growth
Arizona today received its fifth consecutive Gold Shovel Award from Area Development Magazine, highlighting more than $165 billion in private investment and underscoring the state’s continued appeal to high-tech industries.
Record-Breaking Recognition Across the U.S.
The Gold Shovel Award recognizes the best-performing states (5–8 million population) for attracting large, job-creating investment projects eda.gov+12azcommerce.com+12azcommerce.com+12. Arizona is now one of only a few states to claim five straight gold shovel wins. This year’s recognition singles out TSMC’s third Phoenix fab expansion as a Manufacturing Project of the Year—part of the company’s ongoing $165 billion investment that includes three fabs, two advanced packaging plants, and a major R&D center gilaherald.com+2azcommerce.com+2azcommerce.com+2.
Impact on Jobs and Economic Momentum
Since 2020, Arizona has drawn over $165 billion in high-tech investment, with TSMC alone contributing much of that sum. These investments are projected to create thousands of family-sustaining jobs across Maricopa, Pima, Pinal, and other counties azcommerce.com. The influx spans advanced semiconductor manufacturing, packaging, and research, reinforcing Arizona’s strategic role in national and global tech supply chains.
Why It Matters to the State
State leaders credit the momentum to a collaborative climate of innovation:
- Governor Katie Hobbs emphasized Arizona’s reputation as a leading destination for global high-tech firms offering quality jobs azcommerce.com+3azcommerce.com+3azcommerce.com+3.
- TSMC Arizona President Rose Castanares noted that support from state and local leaders enabled growth from the first fab in 2021 to today’s expansive footprint azcommerce.com.
- ACA CEO Sandra Watson spotlighted the state’s policy, infrastructure, and workforce incentives as key drivers in earning repeated recognition azbigmedia.com+5azcommerce.com+5azcommerce.com+5.
Economic Development Strategy & Future Outlook
This latest award builds on Arizona’s longstanding economic development approach:
- A track record of seven gold shovel wins since 2015—five of them consecutive instagram.com+11azcommerce.com+11gilaherald.com+11.
- Expansion of high-value sectors such as semiconductor, battery manufacturing, aerospace, and clean energy .
- Continued cultivation of public-private partnerships to support workforce development and attract investment.
Officials from the Arizona Commerce Authority and Greater Phoenix Economic Council are expected to leverage these accolades to further broaden Arizona’s appeal to global manufacturers and suppliers.
What It Means for Arizona Communities
Investment projects tied to the Gold Shovel award are expected to tangibly benefit residents:
- Communities across Maricopa, Pima, Pinal, Yavapai, and Cochise counties will receive an influx of job opportunities ranging from high-skilled engineering roles to facility operations and logistics.
- Expanding semiconductor fabs, especially in Phoenix, bring complementary supplier networks and enhanced STEM pathways.
- Rural areas are not left behind—battery plant growth and other expansions also extend benefits to smaller towns.
Challenges Ahead
Despite the achievements, maintaining momentum requires ongoing work:
- Workforce development is critical to meeting demand: Arizona must scale training programs to support technical staffing in rural and urban hubs.
- Sustaining infrastructure —including transportation, water, and energy—remains essential as fab sites expand.
- Competition from other states continues; preserving Arizona’s edge requires consistent policy support and strategic planning.
Looking Forward
Arizona is expected to continue attracting major A&D, semiconductor, and cleantech investments through 2026. With its Gold Shovel streak, the state is well-positioned to host more high-caliber projects. Tomorrow’s headlines may feature follow-up announcements on TSMC’s R&D center, supplier deals, and related STEM training expansions—
solidifying Arizona’s status as a global innovation hub.