Q4 2024 Industry Impact Report Highlights Shifts in Arizona Tech Employment Trends and Investments
Tech Job Growth Sees Key Occupational Changes While Semiconductor and Energy Sectors Strengthen
PHOENIX, March 6, 2025 – The Arizona Technology Council today released its Q4 2024 Arizona Technology Industry Impact Report detailing the latest employment and investment trends across the state’s technology sector. The report shows that while overall STEM job postings declined by 16% since October 2024, employment in certain fields such as computer hardware engineering more than doubled in the past five years.
“Arizona’s technology industry continues to evolve, with growth in semiconductor manufacturing, energy innovation and advanced research at our universities,” said Steven G. Zylstra, president and CEO of the Council and SciTech Institute. “While shifts in job demand present challenges, we remain focused on fostering talent and attracting businesses to keep Arizona at the forefront of technological advancement.”
Notable findings in the Q4 2024 report include:
- Key investment highlights feature Intel securing $7.86 billion in CHIPS Act funding and Arizona State University’s selection to lead the $100 million SHIELD USA project, bolstering semiconductor packaging capabilities.
- Arizona’s technology industry is projected to grow 10% during the five-year period ending in 2028.
- Arizona technology industry earnings reached $31.4 billion.
In addition to industry data, the report features company announcements, workforce development updates and investment news that provide deeper insights into the Arizona technology landscape.
Key highlights from the Q4 2024 Impact Report:
Technology Sector Jobs News
- Hyperion Technologies to establish a 600,000-square-foot facility in Peoria, creating 1,500 direct jobs and 4,500 construction jobs.
- Amazon opens three new warehouses in Phoenix, adding up to 6,000 new jobs.
Empowering Perspectives
- The Council hosts the Tech Inclusion Forum, focusing on disability inclusion in technology workplaces.
- TSMC enhances diversity, equity, and inclusion (DEI) initiatives to support a more diverse workforce.
Company News
- Salt River Project (SRP) announces a new 200-megawatt battery storage project south of Phoenix to improve energy efficiency.
- Honeywell forms a partnership to develop autonomous aircraft for the U.S. military, expanding its role in aerospace innovation.
Workforce Development and Education News
- Arizona State University nears $1 billion in annual research funding, joining an elite group of universities driving high-impact innovation.
- A new initiative addresses the growing skills gap in the energy sector, ensuring Arizona remains competitive in clean energy advancements.
Investment News – Funded, Grants, etc.
- Intel secures $7.86 billion under the CHIPS Act to expand semiconductor manufacturing and advanced packaging capabilities.
- ASU and Deca Technologies receive $100 million to lead the SHIELD USA project, strengthening U.S. semiconductor packaging technology.
On the Council’s behalf, the quarterly report is compiled by Lightcast, an organization that creates web-based, data-reporting solutions designed to help cities, industries and planners drive effective policy, create new growth and engage stakeholders. The report is based on Lightcast’s analysis of data from Emsi, Brookings Institution, CompTIA, AngelList, National Science Board and others.
Download or view the complete report on the Council’s website here.
About the Arizona Technology Council
The Arizona Technology Council is Arizona’s premier trade association for science and technology companies. Comprised of a diverse professional business community, Council members work towards furthering the advancement of technology in Arizona through leadership, education, legislation and social action. The Council offers numerous events, educational forums and business conferences that bring together leaders, visionaries and community members to make an impact on the technology industry. These interactions contribute to the Council’s culture of growing member businesses and transforming technology in Arizona. To become a member or to learn more about the Arizona Technology Council, please visit www.aztechcouncil.org.