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The total area of Arizona is 114,000 sq mi (295,260 sq km), of which land takes up 113,508 sq mi (293,986 sq km) and inland water 492 sq mi (1,274 sq km). The state government is Arizona's largest employer, while Banner Health is the state's largest private employer, with over 39,000 employees (2016). In terms of revenue generated, Arizona's top five agricultural products are cattle and calves, lettuce,dairy products, cotton, and hay. Before World War II the focus of Arizona’s economy was primary production—mineral extraction, lumbering, cattle raising, and crop growing. Urban and industrial expansion have so polluted major areas of Arizona that it no longer serves as the refuge it once did for sick people seeking pure air. COVID-19 Economic Trends » Redesigned News Releases » Industry Productivity Viewer » Comparing Pay Measures » Western Information Office. Arizona's economy relied on the "Five C's": copper, cotton, cattle, citrus, and climate (tourism). [ Agriculture map | More] December 4, 2020 – Due to the pandemic, we featured our annual flagship event the Eller Economic Outlook on ZOOM. In 1848, under the terms of the Mexican Cession the United States took possession of Arizona above the Gila River after the Mexican War, which became part of the Territory of New Mexico. The climate, scenery, and casual lifestyle, however, still attract millions of visitors each year, and the state has become a popular retirement centre, particularly in the lower desert areas. Many other towns have airports capable of accommodating small jet aircraft, and there are numerous military airfields as well. Economy in Arizona City, Arizona. Trade with Mexico has been a hot topic for the past few years. The state's per capita income is $40,828, ranking 39th in the U.S. Arizona has the 20th highest GSP out of the 50 states. and other business that are in Arizona and support the economy. Economy of Arizona, 1976. 3 weeks ago. Arizona was among the top three fastest-growing economies in the nation, according to U.S. Bureau of Economic Analysis data released last week. It was later used as a scientific research facility. The US average is 7.3%. Arizona's agricultural output is pretty evenly distributed between crops and livestock. Another challenge of the trump administration on the economy in Arizona is the changes to the federal tax reform. The Hoover Dam on the Colorado River, Arizona-Nevada border, U.S. Glen Canyon Dam on the Colorado River, near Page, Arizona, U.S. Arizona's economy consist of cotton, tourism, corn farms, cattle ranches, vegetables,dates, oranges,grocery stores, pet stores gas stations (we all wish the prices where lower) super markets, malls, amusement parks, fashion shops,mines (uranium),manufacturing (games, soda,toys,etc.) Given the differing attitudes emanating from the various national and state policy makers, In Business Magazine is taking a look at cross-border trade’s place in Arizona’s economy. Located in the Rocky Mountains region of the southwestern United States, Arizona ranks sixth in size among the 50 states. Replaced by John N. Goodwin. Over the 5 years ending in 2019 the Arizona economy grew in real terms by 19.95% at a compound annual growth rate of 3.70% per year. Copper is still extensively mined in Arizona, accounting for 65% of all US copper. The US average is 3.7%. 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