Tucson Economy

Economic Facts Concerning the Tucson Area

Basic Economic Facts

Tucson EconomyResearching the economic condition of Tucson is essential for deciding whether or not the Tucson real estate for sale you are thinking of buying is really a good investment. The economy of Tucson has largely been based on developing the area’s biggest college, the University of Arizona. The University of Arizona has created many jobs and has hired many of the professionals who live in the city, making it the second biggest employer in the area.

Another big employer for the area is the Davis-Monthan Air Force Base. The Tucson area is also home to the training grounds for U.S. intelligence at Fort Huachuca. Due to the technical nature of the work that is done on these Army installations, many high tech companies and government contractors have flooded into the area. There are over 1,200 companies that have moved into the area and have employed 50,000 people in the southern portion of the state of Arizona.

Aside from the focus on the University of Arizona, the city has begun to take advantage of the booming technology industry that has made its home in Arizona and has begun to make a commitment to making the city attractive to these types of employers.

Tourism

One of the biggest money makers for citizens who own Tucson real estate is tourism. It is estimated that the tourism industry brings in around two billion dollars every year with the 3 million tourists that come rolling through the city. One of the events that seem to draw large crowds of people into the area is the Tucson Gem and Mineral Show. This event is held yearly during the month of February at locations around the city. This mineral show is the largest in the world. Many people also flock to Arizona to escape from the harsh winter conditions that happened in other parts of the country.

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