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That research almost always includes whether the workforce is young, plentiful, educated - and can put down roots in a place that offers a high quality of life.
Arizona is one place that offers all of the things that help a company achieve future success.
The state is becoming nationally known as a top state for a qualified workforce. Just last year, CNBC ranked Arizona No. 2 in the country for workforce quality and availability. A year earlier, Forbes listed Arizona as No. 1 in projected job growth.
Education is the key
There's a reason why: Arizona boasts a young workforce - 36 years old on average - that is continually fed by top universities and a community college system. And the population centers are plentiful: More than 2.9 million workers live in the Greater Phoenix and Tucson metropolitan areas.
While there are numerous higher-education choices, Arizona's three public universities - Arizona State University, Northern Arizona University, and University of Arizona - had a total enrollment of 151,637 students in the 2013-2014 academic year.
These institutions are producing qualified graduates from top-ranked degree programs in the state's growth sectors: information technology, bioscience and healthcare, aerospace and defense, and advanced manufacturing.
By meeting the needs of businesses and fostering the next generation of professionals, Arizona is keeping top talent at home and drawing the attention of major corporations looking to expand.
A growing presence in Arizona
Fast-growing Zenefits, a cloud-based human resources technology company based in California, recently announced it was expanding in Arizona with 1,300 new jobs. Its CEO and co-founder Parker Conrad cited the "talented workforce" as a key reason for selecting the Grand Canyon state.
The same is true for automotive giant General Motors. The company recently completed a state-of-the-art IT Innovation Center in Chandler, Arizona. GM's Chief Information Officer, Randy Mott, described the region as a "fantastic hub of emerging technical talent - from university graduates to working professionals."
Both of those companies worked with the state's economic development agency, the Arizona Commerce Authority (ACA). The agency has been proactive about connecting industry with the state's education network. For example, three years ago, the ACA held large-scale meetings with industry leaders to find out what skills executives wanted to see in potential job candidates.
Based on what they learned, ACA brought business professionals together with universities, colleges, high schools, and community groups to find new ways to give companies well-trained graduates who are ready to work. In short, the ACA sees business and education as fundamentally interconnected, not separate.
The ACA has also been leading in what it calls "sector partnerships," in which companies from an industry join forces with educational and governmental organizations to concentrate on industry issues and workforce development. One recently formed "sector partnership" involves 35 healthcare companies, Maricopa Community Colleges, and the City of Phoenix. It's designed to improve the quality of healthcare in the region, with an emphasis on medical manufacturing, research and development, information technology, laboratories, pharmaceuticals, insurance, and home care.
It's all contributing to a success story that validates Arizona's growing recognition as a place with a top-notch workforce, which is critical for company expansions.
This post is sponsored by Arizona Commerce Authority.
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