Arizona is one of the fastest growing states of the United States of America and Phoenix and Tucson are the cities leading growth of the desert state. Tucson in particular is the city fuelling this tremendous growth in population, housing, and infrastructure. Once regarded as a city best for the retirees, it has today transformed into a economic and commercial hub of Arizona, attracting young entrepreneurs from around the country to start their businesses. The presence of University of Arizona and its strong student community has played a great role in reviving the fortunes of this city.
Here are the top three reasons why Tucson is growing so fast:
1.A Booming Real Estate
Tucson, which was really a suburb of Phoenix, only a few decades ago, has now grown into a mega city in its own right. Situated 108 miles southeast of Phoenix, Tucson is today the second largest city of Arizona with a population of more than half a million people. This population continues to grow because of the fact that the city with a metropolitan touch provides a small town feel to its residents till today. You can have quick and easy access to not just Phoenix and other big cities from Tucson but also experience all modern amenities that you desire as a home owner. But whereas you face a high cost of ling and high property prices in Phoenix, it is not the case with Tucson. This city has a lot of breathing space and you can still buy a large house in reasonable prices to live with your family.
The fact that Tucson is home to the University of Arizona means it needs more and more homes to provide accommodation to thousands of students enrolling in U of A. The on-going and upcoming housing projects in Tucson allow more people to come and live in this beautiful city surrounded by mountains and lakes. For all those who want a modern, cosmopolitan city to live and raise their family but also desire a comfortable and peaceful life, Tucson presents itself as an ideal option. City’s economic growth has attracted a large number of entrepreneurs in recent times who want to make the most of modern infrastructure and low cost of living of Tucson.
As the population of Tucson continues to grow at a steady rate, it is the huge size of the city that comes to its rescue in allowing for the construction of new housing projects.
2.A Vibrant Art and Culture Scene
One reason why Tucson is growing at a frantic pace is because of its rich and vibrant art and culture scene. Tucson is home to a very diverse population that includes people belonging to no less than 30 different ethnicities. The culture and traditions of all these diverse people are alive and kicking and celebrated by the residents with much fanfare in the shape of festivals, carnivals, and annual events that continue to take place in the city all-round the year. Here are some of the most popular events taking place in Tucson every year.
Tucson Gem and Mineral Show
Tucson Festival of Books
Tucson Folk Festival
Tucson Meet Yourself
The Tucson Rodeo
Tucson Modernism Week
All Souls Procession Weekend
Fourth Avenue Street Fair
All these, and many other fairs and festivals attract a large number of people from other parts of the country as well as from many other countries of the world. This gives a big boost to the economy of the city.
3.Continuous Increase in Jobs and Incomes of the People
This is the third most important reason behind the phenomenal growth and expansion of Tucson. It is not just the aerospace industry or the optics industry that have taken strong roots in Tucson but many other industries where growth and development has led to an increase in the number of jobs for the local resident. High paying jobs have meant increasing median household incomes in Tucson. Rising number of jobs and increasing incomes have fuelled the growth in the economy of Tucson. Rising incomes have led to an increased consumer spending which in turn has had a positive impact on all other aspects of the economy of the city.
One reason why people have more money in their pockets every year is because of lower gas prices. The annual household saving on account of lower gas prices is around $368. Obviously this money is pumped back into the economy in the form of consumer spending to give a boost to the manufacturing sector.
As more and more people look to new places to buy property to settle down, Tucson emerges as a favourite destination for them. This is because of a low cost of living and a small town feel with all modern amenities and access to capital Phoenix.