All Access

All-Access Weekly Digest

Standard

Phoenix

Phoenix Members

Membership

Phoenix Alerts

Alert

blue

Get a daily digest of the most important stories affecting your hometown with the Axios Phoenix newsletter.

Axios Phoenix

Axios Phoenix Thought Bubble

Thought Bubble

Arizona Diamondbacks surging as they battle for a wild card spot

The D-Backs have surging after losing 9 in a row to start August

Sports

5 must-try local Phoenix ice cream shops

Here are the tastiest spots to grab a frozen treat, according to Axios Phoenix readers.

Food and Drink

Arizona History: Why tubers throw marshmallows in the Salt River and why they must stop

The marshmallow fight tradition dates back at least two decades.

Things to Do

How "golden handcuffs" locked up Phoenix's housing market

Roughly 67% of Arizona homeowners with mortgages have a rate below 4%.

Real Estate

Axon's Scottsdale apartment proposal accused of "cheating" schools out of funding

Axon wants to build 2,500 apartment units near Loop 101 and Union Hills Drive, which would require a zoning change.

News

Axon, the billion-dollar Scottsdale corporation that manufactures Tasers and police body cameras, wants to <a class="gtmContentClick" data-vars-link-text="build 2,500 apartment units" data-vars-click-url="https://eservices.scottsdaleaz.gov/planning/projectsummary/applicant_submittals/ProjInfo_13_ZN_2020_2.pdf" data-vars-content-id="50e3732d-7e8b-42c2-8dd8-935c6dba1f8a" data-vars-headline="Axon&#x27;s Scottsdale apartment proposal accused of &quot;cheating&quot; schools out of funding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://eservices.scottsdaleaz.gov/planning/projectsummary/applicant_submittals/ProjInfo_13_ZN_2020_2.pdf" target="_blank">build 2,500 apartment units</a> around its new planned headquarters near Loop 101 and Hayden Road as part of a plan to provide convenient housing and commercial amenities for employees.<ul><li>Yes, but: One of the Valley&#x27;s top real estate professionals is accusing the company of skirting state land rules — and shorting education funding in the process.</li></ul>

Illustration of a dollar made out of chalk on a chalkboard being erased

Turf Paradise owner seeks buyer after planned sale falls through

Track owner Jerry Simms announced his retirement and is talking with prospective buyers.

Business

The planned redevelopment of Turf Paradise is up in the air after a developer backed out of plans to purchase the historic horse track in north Phoenix.Catch up quick: CT Realty, which has offices in Dallas and Newport Beach, California, was <a class="gtmContentClick" data-vars-link-text="under contract to buy the property" data-vars-click-url="https://www.axios.com/local/phoenix/2023/04/12/sale-redevelopment-turf-paradise-horse-racing-phoenix" data-vars-content-id="303e6413-a4d0-4ed7-9920-fbeceda80c23" data-vars-headline="Turf Paradise owner seeks buyer after planned sale falls through" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/phoenix/2023/04/12/sale-redevelopment-turf-paradise-horse-racing-phoenix" target="_self">under contract to buy the property</a> and planned to <a class="gtmContentClick" data-vars-link-text="convert it into a business park" data-vars-click-url="https://www.axios.com/local/phoenix/2023/04/24/proposal-would-turn-turf-paradise-into-moon-valley-business-park" data-vars-content-id="303e6413-a4d0-4ed7-9920-fbeceda80c23" data-vars-headline="Turf Paradise owner seeks buyer after planned sale falls through" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/phoenix/2023/04/24/proposal-would-turn-turf-paradise-into-moon-valley-business-park" target="_self">convert it into a business park</a> that would include residential, commercial and industrial development near 19th Avenue and Bell Road.

Arizona leads in income gains but lags behind national median income

Arizona saw the largest percentage increase in median household income between 2019 and 2022.

Arizona saw the largest percentage increase in median household income in the nation between 2019 and 2022, according to newly released Census Bureau data.<ul><li>And the Valley was among the largest income gainers across major U.S. metros.</li></ul>

Arizona has 131 of the fastest-growing companies

Sonoran Roots, a craft cannabis company, was the top Arizona business.

The Valley is home to more than 100 of the fastest-growing private companies in the country, according to the <a class="gtmContentClick" data-vars-link-text="2023 Inc. 5000 list" data-vars-click-url="https://www.inc.com/inc5000/2023" data-vars-content-id="85a3bdf9-cfda-4928-b513-5c6c965d1bcd" data-vars-headline="Arizona has 131 of the fastest-growing companies" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.inc.com/inc5000/2023" target="_blank">2023 Inc. 5000 list</a> released earlier this month.Driving the news: <a class="gtmContentClick" data-vars-link-text="Sonoran Roots" data-vars-click-url="https://sonoranroots.com/" data-vars-content-id="85a3bdf9-cfda-4928-b513-5c6c965d1bcd" data-vars-headline="Arizona has 131 of the fastest-growing companies" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://sonoranroots.com/" target="_blank">Sonoran Roots</a>, a craft cannabis company headquartered in Tempe, was the top Arizona company, coming in at 10th on the list.

Illustration of an open briefcase with an upwards trending line popping out.  

Wetzel's brings fresh and fancy pretzels to the Phoenix Valley

Surprise is home to the Valley's first Twisted by Wetzel's location and the second overall.

A giant soft pretzel with big grains of salt and a cup of processed cheese sauce is a simple but delightful culinary pleasure, and pretzel buns are all the rage these days.<ul><li>So I figured I had to try out the new Wetzel&#x27;s concept, which aims to take pretzels to the next frontier.</li></ul>

GPEC forges partnership to encourage Taiwanese investment

"This partnership will open new doors for Taiwanese and American entrepreneurs."

The Greater Phoenix Economic Council (GPEC) formalized a partnership with Taiwan&#x27;s national startup organization early Thursday morning.<ul><li>GPEC and Startup Island TAIWAN will pursue joint business missions and help Tainwanese startups participate in Phoenix-area accelerator programs, according to a press release.</li></ul>

You have to make $564K to be in the 1% in Arizona

The top 1% of U.S. families by wealth hold more than a third of the country's total wealth.

So you wanna be in the 1% of income earners? That&#x27;ll require you to make $564,000 in Arizona, according to a recent SmartAsset analysis of IRS tax filer data.<ul><li>That&#x27;s almost $100,000 less than the national household figure of $652,657.</li></ul>The big picture: The top 1% of U.S. families by wealth held more than a third of the country&#x27;s total wealth in 2019, the Congressional Budget Office reported last year.

Phoenix gas prices near $4 and remain above national average

That's above the national average, though prices have dropped from the peak in April and May.

A gallon of gas cost $3.91 on average across Phoenix as of Aug. 1, according to GasBuddy.<ul><li>That&#x27;s down significantly from the <a class="gtmContentClick" data-vars-link-text="abnormally high prices" data-vars-click-url="https://www.axios.com/local/phoenix/2023/05/26/memorial-day-weekend-phoenix-airport-gas-prices" data-vars-content-id="aeaa6ecb-2efb-4d3a-925f-4d4b0cfd6c5b" data-vars-headline="Phoenix gas prices near $4 and remain above national average" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/phoenix/2023/05/26/memorial-day-weekend-phoenix-airport-gas-prices" target="_self">abnormally high prices</a> we saw in April and May, but still higher than the nationwide average of $3.76, Axios&#x27; Alex Fitzpatrick and Kavya Beheraj report.</li></ul>The big picture: Nationwide, average gas prices are up a bit from winter months — as expected based on historical patterns — but lower than last year&#x27;s highs of nearly $5.

A line graph comparing gas prices in Phoenix to national average.

Between inflation and home prices, Phoenix is no longer a retiree mecca

Arizona's sudden cost-of-living increase has moved the goalposts for retirees.

Metro Phoenix&#x27;s affordable prices and climate once made the region one of the most popular places for retirees to spend their golden years.<ul><li>But <a class="gtmContentClick" data-vars-link-text="rising home prices" data-vars-click-url="https://www.axios.com/local/phoenix/2022/06/09/you-need-87k-year-afford-average-home-phoenix" data-vars-content-id="69d8c59c-f003-4e2a-b00b-630a930273b1" data-vars-headline="Between inflation and home prices, Phoenix is no longer a retiree mecca" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/phoenix/2022/06/09/you-need-87k-year-afford-average-home-phoenix" target="_self">rising home prices</a>, <a class="gtmContentClick" data-vars-link-text="nation-leading inflation" data-vars-click-url="https://www.axios.com/2023/02/02/top-cities-inflation" data-vars-content-id="69d8c59c-f003-4e2a-b00b-630a930273b1" data-vars-headline="Between inflation and home prices, Phoenix is no longer a retiree mecca" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/02/02/top-cities-inflation" target="_self">nation-leading inflation</a> and a lack of retirement preparedness have put many older Arizonans in a tight spot.</li></ul>

Illustration of a middle-aged person holding their head in their hands with arrows and zigzag lines in the background.

Metro Phoenix new business growth exceeds national average

About 18 new business applications per 1,000 residents were filed across metro Phoenix in 2022.

About 18 new business applications per 1,000 residents were filed across metro Phoenix in 2022, per new Census Bureau and IRS data.State of play: That&#x27;s slightly higher than the rate of filings recorded in 2021, and above the national average of 15 for every 1,000 residents.

A map showing new business applications in Arizona by county. Maricopa, Pinal and Yavapai counties saw the most.

Business 🏦