Almost 34,000 Flagstaff workers were employed in 2005 with an unemployment rate near 3.6% which is much stronger than the 4.6 national unemployment rate. While there are many areas of employment in Flagstaff, the major portions are in the governmental, food, health, educational, and retail service industries. Government is one of the largest employment sectors. Tourism is also a large employer as the city sees over 5,000,000 visitors a year. Hotels, retailers and the film industry benefit the economy. Non-city residents provided an estimated 50% of the sales tax revenue. The City has more than 350 licensed businesses generating BBB tax revenues (an additional 2% sales tax).
In addition, the City houses Northern Arizona University and other scientific and high tech research and development industries. Manufacturing is becoming a larger portion of the Flagstaff economy. The products manufactured include dog and cat food; surgical/medical instruments and apparatus; wind generators; circuit boards; packaging products; and recycled paper products for commercial use.
NAU, the largest employer in the City, has a major economic impact annually. The campus is used year-round and hosts many professional athletes such as the Arizona Cardinals and Phoenix Suns, and Olympic athletes that choose Flagstaff as training site because of the climate, altitude, and available facilities. The University, in partnership with the City of Flagstaff and the State of Arizona, has institutionalized this with the development of the High Altitude Sports Training Center. The Center invites athletes worldwide to train at the 7,000 feet elevation, which has proven to offer a competitive advantage. The Center offers facilities, health assessments, and other services to these international athletes.
Five business and industrial parks are situated with excellent access to the Interstates (I-40 and I-17). One additional site resides within 15 miles of the City limits. Major manufacturers include W.L. Gore & Associates (of Gortex renown), manufacturer of medical equipment; Nestle Purina Petcare Products, manufacturer of pet food; SCA Tissue, manufacturer of tissue paper; and Joy Cone, manufacturer of ice cream cones.
Total sales generated by Flagstaff businesses reached $2.75 billion in FY 2005.
Disclaimer: The property and other information contained within this document has been obtained from sources believed to be reliable; however, Cavan Realty, Inc. has not verified such information and makes no guarantee, warranty or representation as to the accuracy of such information. It is the responsibility of the buyer or prospective buyer to independently confirm the accuracy and completeness of such information prior to any reliance thereon, or the lease or purchase of the property.
