Once known as the “Hay Capital of the World,” Gilbert, Arizona, has undergone a remarkable transformation into a dynamic hub for business and innovation. This evolution is evident in the town’s burgeoning industries, population growth, and economic development initiatives.
Population Growth Fuels Economic Expansion
Between 2010 and 2024, Gilbert’s population surged from 200,000 to 275,000. This rapid growth has been driven by the town’s appeal to major employers and its family-friendly suburban environment. The influx of residents has, in turn, spurred demand for housing, retail, and services, creating a fertile ground for businesses to thrive.
Diverse Industries Anchoring Gilbert’s Economy
Gilbert’s economic landscape is characterized by a diverse array of industries:
Advanced Business Services
The town offers a pro-business environment with aggressive state-wide tax credits and incentives, coupled with a consistent talent pool. This makes Gilbert an ideal location for advanced business services operations.
Manufacturing
With competitive operating costs and access to a vast manufacturing supply chain ecosystem, Gilbert is well-equipped to welcome new manufacturers and support the expansion of existing ones. Notable companies like Northrop Grumman and Silent-Aire have established significant operations in the area.
Finance and Insurance
Gilbert has become a hub for growth in the finance and insurance industry, benefiting from the Greater Phoenix region’s status as one of the top markets in the nation for these sectors.
Strategic Economic Development Initiatives
The Gilbert Office of Economic Development is committed to attracting, growing, and retaining business and industry. The office provides expert site selection services, operational cost analysis, incentive comparisons, workforce studies, and connectivity to key resources, ensuring a pro-business environment that brings together innovative companies from around the world.
Conclusion
Gilbert’s transformation from an agricultural center to a thriving economic hub is a testament to its strategic planning, diverse industry base, and commitment to fostering a business-friendly environment. As the town continues to grow, it remains a beacon of opportunity for businesses and entrepreneurs alike.