Slow, Steady Job, Population Growth Forecast For AZ In 2018

An Arizona State University economist expects the state to continue attracting people from other states but said that additional population could put a strain on Arizona’s resources.

Lee McPheters discussed the outlook for Arizona at the 54th annual Economic Forecast Luncheon on Wednesday, sponsored by the W. P Carey School of Business at ASU and JP Morgan Chase and Co.

“We expect steady, sustainable but not spectacular growth — certainly better than most places,” said McPheters, research professor of economics in the W. P. Carey School of Business and director of the school’s JPMorgan Chase Economic Outlook Center.

“We’re close to a top 10 growth state but not in the top five.”

Health care, finance and food service are very strong industries in Arizona, he said. But one of the biggest drivers in the state’s economy is the 61,000 new residents who come from other states every year.

But the state must keep up with that population growth — which he forecasts will be 120,000 new people from domestic and international locations in 2018 — about a 1.7 percent increase.

“The Arizona Department of Transportation estimates that to meet the needs of population growth, the cost will be $100 billion. But our gas tax is the same as it was 25 years ago,” he said.

Among McPheters’ forecasts for next year:

5 Comments on "Slow, Steady Job, Population Growth Forecast For AZ In 2018"

  1. so from ASU/Chase bank, we’re not at the top, but it’s greater than ten and less than five? Do we pick a number, and these are old folks, bringing their money to Chase, who like tacos when they get here, so the question becomes how do we get their money… and the answer is a ‘gas tax’ because we have not taken more from the people in a long time and since we have a tax decrease coming, lets raise some state taxes to kill two birds with one stone… yup sounds like ASU / Chase logic to me

  2. What, Again | December 5, 2017 at 3:46 am |

    120,000 new residents from domestic and international locations, 61,000 of those from other States. Guess where the other 59,000 come from?

    Illegals from MEHEEEECO

    And you can say good-bye to that. Build the Wall!

  3. The Oracle of Tucson | December 5, 2017 at 5:39 am |

    So if you work in healthcare or finance and you eat out a lot things are looking great, but otherwise?
    The article failed to note that if your unfortunate enough to live in Pima county no matter what type of employment you have, your totally screwed due the the no steadfast no new growth visionary leadership.

    The Oracle

  4. the announcement being made, the president under siege will now be coming under a more direct legal attack, defenses are pending, there is a building momentum to overthrow this current government, the constitution ‘a piece of paper’ soon to be something we remember as a thing of the past ; the time that we become a more evident Mystery Babylon coming upon us this nation, this people. God Bless America.

  5. With George Soros’ NGO’s working 24-7 to register every convicted felon in Alabama and, no doubt, doing the same in other states, it won’t be too many days, months, years that Americans will conclude that our Republic doesn’t work because it can be bought off by the likes of Soros and his demonic hordes. OWG is coming, along with massive migration shifts, a ruling oligarchy to tell their peasants how it’s going to be, no more voting, elections, free enterprise, etc. Maranatha!

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