Canadians are founding businesses in Arizona at an impressive rate.

Canadians Are Bullish On Arizona's Economy

October 5, 2016 6:15 pm Published by Leave your thoughts

Canadians may be worried about the decline of the loonie and the future of their nation's economy – but they certainly seem to have a lot of confidence in Arizona.

Maybe it's the weather – they certainly don't get near as much sun up north. Or maybe it's the state's favorable business climate. 

A 2015 report by the Economic Development Committee of the Maricopa Association of Governments found that nearly 200 Canadian companies were set up in Arizona as of last fall, according to the Globe and Mail. These are big employers that are responsible for as many as 22,300 jobs throughout the state

Just a decade ago, the news source noted that there were about 80 Canadian businesses in Arizona. R. Glenn Williamson, a Montreal native and founder of the Canada Arizona Business Council, attributed this growth to the growth of travel between the two places.

"The minute those direct flights started ramping up from Toronto, you started to see unbelievable amounts of wealth pour into this region," he told the Globe and Mail.

In addition, a foothold in Arizona gives Canadian companies easier access to the significantly larger U.S. market. And compared to many other states, Arizona places fewer barriers in the way of new businesses. But the Phoenix area still contains similar opportunities to those found in higher-cost California metro areas, for example. 

And, of course, the abundant sunshine doesn't hurt.

Are you looking to start your own business in Arizona? The Law Offices of Donald W. Hudspeth, P.C., have years worth of experience guiding entrepreneurs through the formation of new businesses. Call us today to learn more.

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