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what is going on everybody this is Jeff with living in Arizona and today we are going to talk about the Arizona economy this is a question that came in on the living in Mesa video that I made about while ago this comes from Shilpa don't pop apologize if I didn't get that right um but anyway she says uh I have a few ideas for videos she says video about dream port village in Casa Grande still working on that one video about Arizona economy which is what this one is in a video about best European bakeries in the valley number three I'm probably not going to be the guy to deliver on European bakeries although that gets me thinking about all the good bread that I've had over in France and Italy and you know just their kind of dough right but anyway this one I can talk about the Arizona economy so let's go ahead and dial this in here and take a look so I think that if you're gonna come here the first thing you're gonna want to know is that farming makes up a great deal of our economy believe it or not even though we're coming in out of a drought we've been in a drought and you know it's a desert valley farming is a six billion dollar industry okay on abc15 who's a great local news source when you come to the valley you're gonna have a choice between Fox 10 News ABC 15 I recommend you guys take a look at on social media ABC 15 I like the way they report news because they're on the ball that this is not any this is no bias it's just I like the way they get in there and they dial it in but Arizona farms are making a lot of lettuce believe it or not lettuce I've grown things in my backyard I'm growing an urban garden here I'm gonna be showing you guys more about this urban garden for those of you who are in the green thumb stuff I've very successfully grown broccoli cauliflower kale list goes on I mean citrus grows great out here so you can see Arizona Farm Bureau says it's major win for big gangs and dairy and beef there's also surprising growth in pecans pistachios and wine crops so let's talk about this another article from ABC 15 Arizona wine industry sippin on success when you think wine do you think of Arizona well now you should because Napa Valley better watch out because the Verde Valley corn build that whole area up there by Cottonwood massively successful wine industry so if you're one of those wine-sipping connoisseurs and you just need a weekend getaway go up two hours towards the Verde Valley hour and a half depending on where you live in Phoenix and you're right there in a wine sipping territory you could stay at one of the Villa hotels out there I mean I saw people staying in Jerome at those places but I'm telling you guys this the wine that's coming out of Arizona is really booming people in Arizona like drinking wine - it's uh it's a thing I mean it's funny because the guys most men that I meet believe it or not Moscato pinot grigio stuff like that women they're like they like the stiffer stuff they like that like you know the red wines and stuff but the man I'm telling you this is not Joe men like that sweeter stuff the Moscato is and stuff so kind of cool right just to see that demographic and how that shapes up but let's go ahead and dial this end even more directly and take a look so you can see Arizona agriculture here on net state crops Arizona's biggest crop is lettuce comprising 20 percent of the state's total production Arizona is also leading cotton producing state tenth in the nation hey in greenhouse and nursery production each generate about half the revenues provided by cotton cantaloupes so these are things that you can grow in your backyard if they grow here successfully get a pecan tree get a pistachio tree get a cantaloupe plants barley potatoes and wheat I don't think anyone really grows wheat or barley in their backyard but why not grow some potatoes right garlic grows really good here like I said broccoli grows great in the wintertime like that's a winter crop tomatoes obviously slutting it's really good for that and then you have manufacturing so you got manufacture goods like cotton cloth computer and electronic equipment which is big for tech you know there's a lot of technology companies that settle out here in Arizona I don't know exact reason for why they do come out here but like I said in previous videos we've got the Tesla Motors alternative lucid car company out here and you know many just technology companies out of here that manufactured computer parts mining still a thing copper is by far the most important mined product in Arizona and then you've got mining copper or large amounts of gold silver products are coal and gravel crushed stone that's why you'll notice out here people are always putting that Apache gold or whatever the name of the that rock is not quarter- but the rock that's you know you've got these granite rocks out there and they're in every yard it's because rocks it's really easy to get that kind of gravel services community business personal services private health care hotels and resorts law firms repair shops really a strong economy I mean it's not just something that people say it's it's booming right now the economy is booming obviously all good things do they last forever I mean you know but if they're saying we're we're definitely strive we're definitely on on partyer and if 2017 Arizona had the 21st largest economy in America so you can see Californians way up there in terms of GDP but still I mean for for our state granted we're a big state in size but not a big state in population we only have 7 million people who live in the state of Arizona Phoenix is one of the largest cities Metro but you know the population density of Arizona is pretty thin but either way it's uh it's moving up and this is 2017 I wouldn't be surprised to see her is gonna continue to move up the GDP list but GDP doesn't just necessarily mean everything for the economy right so Arizona's economy growing at fastest pace since 2007 this is biz journals calm we talked about this before our Arizona's economy is growing at a rate not seen in 11 years according to a report from the Bank of Montreal Bank of Montreal obviously Canada what interest do they have in Arizona right I do know that a lot of Canadians are now settling here and making this their snowbirds we can make a video talking about where all the snowbirds come from but out here in the part of the valley that I live in we have a lot of people who make this there six months home where they come down here and like I want to say around November until maybe May October to May is about the time the snowbirds come in and then they go back up to Canada so that's something to keep in mind personal incomes climb 4.1 percent during 2007 team and are projected to grow at 5% in 2018 a little bit older data here but I would imagine 2018 was a stronger year and you could see GDP growth of 3.4% for 2018 and 3.2 percent growth in uptick in 2019 from all indicators appear to be suggesting that 2019 is going to be stronger than 2018 this article was written September 5th 2018 but there is some reason to believe that we are just continuing to get stronger and stronger I don't know what the exact reasoning is for this I know that it's happening across America where the economy just keeps getting stronger and stronger for industry and for certain companies and that means that the rich are definitely getting richer and we'd like to think that trickle-down economics ends up reaching the majority of the population not just the centralized powers right but we should be seeing it in our pockets you know that US average average gains and Joe's out here you know we should be seeing that here in Arizona where it just trickles down to our pockets and I think it is I think I think a lot of people I mean the building boom out here people keep buying houses and again at some point it's gonna cool down but when it's boom and let boom right I mean until they say well predatory lending that was a problem right they were letting it boom so hard they were predatory lending but they put things in place to prevent that from happening so maybe instead of red line and the economy this time it's a little bit more of a sustainable run than we had before so you can see also the top five industries you have trade transportation and utilities government professional and business services leisure and hospitality financial activity so this is this is where the the strength of the economy is Arizona's real GDP this is on good old University of Arizona's website so real millions this is as of 2017 also they still haven't collected and completed the 2018 report they probably won't do that I don't know maybe when are they due to deliver on that would be interesting but you can really get a drilled down report here you can either pause this video here and look at what this graphic says are all reading some of it to you or you can go on Arizona economy org Arizona real GDP by industry and and take a look here but some of the areas where they're seeing an uptick would be in trade I mean basically all the way across the board so I'm saying it's booming because it's growing meaning that unless we're going backwards it's pushing forwards you know right here mining kind of took a backseat in 2016 and then a rebound and recovered but mining is one area where it's not as strong as it has been in the past so mining is still strong but it's cooling down a bit if you're going into construction if you're a builder construction is booming people out here are building pools left and right so that means you know pool builders are in demand landscapers are in demand even home builders now one of the things I wanted to talk about in another video is what's the deal with going off grid because some of you guys have been asking off grid in Arizona that even possible and you'd be surprised because some of the summit some of the reports are saying that Salt River Project SRP also known as I want to say that used to be ApS or maybe ApS and SRP or two different companies I have to look into it before I do the report that's why I'm done the report but they're saying that no matter what you have to be connected to the grid so you if you build a house you still have to connect to SRP with your solar panels if you build a house and put a solar panel on it you still have to be connected to the grid there's no such thing as going off grid in Arizona at least from what I've heard from the solar guys like solar guys who come knocking on the door they say that have you heard about the SRP program I said well if I build a house up on top of the hill and I put solar panels on there do I have to run electrical lines all the way up there just to connect to the grid and he said yeah but he was a young guy so I have to look into it to confirm if what he was saying was true because I don't understand how you cannot go off grid in Arizona I say that because well what do I really have to go beyond the grid if I want to go off grid I mean that I shouldn't have to be forced to be on the grid should I anyways it doesn't matter that's not what this videos about but you could see here you know wine industry farming is still our biggest industry but many of you probably are not gonna say that you want to be forming but urban farming when you get a house consider being an urban farmer you can really grow things and pots out here you just create these microclimates in your backyard and next thing you know you're growing everything from tomatoes to bell peppers to zucchini to squash eggplant broccoli all that jazz I mean some people even take these little chickens and they put them in the yard but things do grow out here in this desert believe it or not grapes especially so see you guys next time thanks everyone who's been subscribing to living in Arizona and liking these videos and see ya