Sky Harbor lands another international flight
Phoenix Business Journal
The Phoenix region's source for local business news & events. Part of the American City Business Journals network.
Porter Airlines Inc. is the latest air carrier to announce an expansion of services at Phoenix Sky Harbor International Airport .
The Canadian carrier this week announced daily nonstop service between Phoenix and Toronto will start later this year, adding to a strong recent streak of flight announcements out of Sky Harbor.
In May alone, 法航 has announced nonstop service from Phoenix to Paris and Condor Airlines has rolled out a brand new plane for its nonstop route from Sky Harbor to Frankfurt, Germany.
Porter boasts "elevated economy service," complete with no middle seats, complimentary wine and beer, free snacks and free Wi-Fi.
“Phoenix is another exciting step in our growth and the latest proof of our commitment to making flying better across the continent." — Kevin Jackson, president of Porter Airlines, in a statement.
On the Cover
Each week, here's where we highlight our latest cover story.
This week's cover story offers a detailed look at the state of Phoenix's office market, and is chock-full of compelling data that articulates just how much things have changed since the halcyon days of 2019.
For instance: at the end of this year's first quarter, Phoenix reported 2.2 million of negative net absorption over the last 12 months. That's a difference of about 6.3 million square feet compared to the first quarter of 2019.
During that same span, new office construction has dropped from 2.7 million square feet to 840,000 square feet, while the office vacancy rate has jumped from 11.7% to 16%.
Experts from CoStar Group , Stream Realty Partners , Newmark , Catellus Development Corporation and 汉斯 provide key context for this story.
“We've been chasing tenants and we would do a build-to-suit if we can get financing, but I'm not sure today we can get financing even with a good credit tenant."
— Charley Freericks , senior vice president at Catellus Development Corporation , on the firm's decision to pump the brakes on starting construction of the 700 Novus tower in Tempe.
SIGN UP for Phoenix Business Journal’s emails to get the latest Valley business news in your inbox twice a day. Already signed up and loving the work we do? Consider subscribing for less than $4 per week .
Hot off the Press
The headlines you need to see before kicking off the weekend.
Community Highlights
Each week, we highlight what's happening in the business community.
New Pathways for Youth (NPFY) is bridging the tech gap by partnering with Cox Communications to launch the Cox Innovation Lab, a state-of-the-art space dedicated to promoting technological education and creativity among Phoenix youth facing poverty and adversity.
“We’re proud to partner with Cox Communications to bring this incredible resource to our youth. There’s a technology gap for youth facing poverty and adversity, and we’re ensuring that our youth have access to technology and a space to learn it and build their skills.”
— Dr. Karen Johnson , CEO and president of New Pathways for Youth
领英推荐
Interested in having your event listed? Contact Associate Editor Mignon Gould, MFA for consideration at [email protected].
In the Tech World
Each week, we feature our latest tech news.
California-based Lucid Group Inc. is laying off hundreds of workers as it seeks to cut costs amid softening electric vehicle demand nationwide.
Lucid is reducing its workforce by 6% — or 400 employees — as part of a decision “to position the company for future growth,” according to a regulatory filing.
While the cuts do not impact Lucid's hourly manufacturing and logistics workforce at its Arizona manufacturing plant, the company previously laid off 60 salaried workers in the state.
Written by Amy Edelen : Electric vehicle maker Lucid Group sets layoffs to cut costs amid lowered demand
PBJ Insider
Latest happenings from the office of the Phoenix Business Journal.
The Phoenix Business Journal recently had a staff outing at Puttshack in Scottsdale on Thursday to celebrate the May birthdays of the editorial and advertising teams: Amy Edelen , Anna Franklin , Angela Gonzales and Ashley Peebles .
Viewpoint
Valley business leaders weigh in on the biggest issues of the day.
Foster care in Arizona is a mission still not accomplished | Luis De La Cruz is president and CEO of the Arizona Friends of Foster Children Foundation .
Executive Spotlight
A teaser of the weekly profile interview series, Executive Inc.
Company: Stem Sports
Education: 美国亚利桑那大学 , media arts
Newsletter curated by Phoenix Business Journal Managing Editor Paul Thompson at [email protected] . If you have any tips for the newsroom, please reach out to Thompson or Editor-in-Chief Greg Barr at [email protected] .