Arizona Business Data for International Real Estate Transactions

Tucson — known as the “Old Pueblo” — has a rich multicultural history that includes Spanish, Mexican and Native American influences and centuries-old traditions. Located about 118 miles southeast of Phoenix, Tucson is the second largest city in Arizona and the 32nd largest city in the United States. Its metropolitan area is home to just over 980,000 residents, with the city itself numbering over 520,000, according to the 2010 United States Census.

What makes Tucson so special? It’s a diverse combination of factors that offers something for everyone: the great outdoors, rich and colorful history, arts and crafts, fine food, and eclectic shopping.

The city’s cultural heritage has garnered honors as one of the top 10 cities for business, especially in the high-tech arena, with roughly 1200 companies that have some type of IT component in the region. Top technology and aerospace employers in Tucson include companies such as Raytheon Missile Systems, IBM, Honeywell, Texas Instruments, Intuit, Bombardier, Northrop Grumman, Dunn Air, Evergreen Air, and many smaller companies. Tucson is also a manufacturing hub for technology which include companies such as Allied Signal, Weiser Lock, 3M, Burr Brown, Environmental Air Products, and Krueger Industries.

Individuals and businesses from around the country and even internationally are heading to Tucson. Besides the city’s beautiful and scenic surroundings, Tucson’s cost of living is still less than many major cities. In addition, Tucson serves as the home of the University of Arizona, the first university in the state. The U of A serves as an international hub for astronomical and technological research, and affiliated astronomy efforts such as the Kitt Peak National Observatory and Steward Observatory, a joint venture between the University and the Vatican Observatory Research Group and manages multiple telescopes across Southern Arizona. Together with the BIO5 Institute for Collaborative Bioresearch and the Critical Path to Accelerate Therapies Institute (C-Path), these centers are bringing unprecedented high tech and bioscience growth to Tucson. On the horizon are major new developments in optics, nanotechnology, and biotechnology.

Tucson is also home to two of the top spa destinations in the world, Canyon Ranch and Miraval Life in Balance, as well as a large collection of world-class luxury resorts and golf courses that thrive on its vibrant tourist culture that attracts more than 3.5 million annual visitors with a approximately $2 billion economic impact. Finally, Tucson celebrates the arts in style with ballet, symphony, live theater, and opera. These also provide a significant number of jobs and have a positive economic impact on the city.

Housing is also an affordable option in the Tucson Area, with the median sales price around $173,000 (As of June 2011). Area communities in Pima County include the city of Tucson, Catalina, Green Valley, Sahuarita, South Tucson, and Vail. In Cochise County, just southeast of the city, communities include Benson, Bisbee, Douglas, Sierra Vista, Tombstone and Willcox. Choose from charming inner-city downtown urban living, luxury developments around the city, or quiet suburban neighborhoods; there is no shortage of diverse housing in Tucson.

Anyone planning to relocate needs to know just how far paychecks will stretch in their new city, and you will be surprise with its affordability.

Data sources: CNN Money, ACCRA