by Jonathan Eberle | Sep 7, 2025 | Economy, News
By Jonathan Eberle |
Hadrian, a fast-growing advanced manufacturing company specializing in AI-powered production, recently announced it has raised $260 million in fresh capital and will significantly expand its operations in California and Arizona. The move comes as the U.S. defense sector seeks to bolster domestic industrial capacity amid heightened global competition.
The latest funding round, a Series C led by Founders Fund and Lux Capital with additional financing arranged by Morgan Stanley, will finance new facilities, expanded research and development capabilities, and dedicated production for naval defense. In total, Hadrian plans to add nearly five football fields’ worth of manufacturing space.
Company founder and CEO Chris Power said the investment reflects both urgency and opportunity. “America cannot afford to lose another generation of industrial capacity,” Power said. “China is making massive bets on industrial dominance. The United States needs to respond not just with policy, but with production. That’s what Hadrian is here to do.”
At the center of the announcement is Hadrian’s planned Factory 3 (F3) in Mesa. The 270,000-square-foot facility represents a $200 million investment and is expected to create 350 new jobs. The site will serve as both a large-scale production plant and a software hub, with operations slated to begin by January 2026.
Arizona officials welcomed the project as a boost to the state’s growing role in aerospace and defense. Governor Katie Hobbs called Arizona “at the heart of America’s national defense,” while Mesa Mayor Mark Freeman described the investment as proof of the city’s status as a national hub for advanced manufacturing.
“Hadrian’s presence marks a major step forward in strengthening America’s industrial base,” Freeman said.
Alongside the Mesa facility, Hadrian is preparing to establish a new 400,000-square-foot corporate and R&D headquarters to support what it described as the “rapid hiring of thousands” in the coming years.
Hadrian emphasizes speed as a key differentiator. Powered by its proprietary Opus software, the company says it can launch new factories in under six months, a pace far quicker than traditional manufacturing buildouts.
Economic development leaders in Arizona say the company’s decision reinforces the state’s attractiveness to high-tech industries. “Greater Phoenix is known internationally as a hub for innovation, and Hadrian is leveraging the region’s advantages for its transformative F3 in Mesa,” said Chris Camacho, president and CEO of the Greater Phoenix Economic Council.
Hadrian positions itself as a cornerstone of a broader effort to restore America’s manufacturing base, with a particular focus on defense production. Its model blends automation, AI, robotics, and machine learning with traditional process engineering.
By moving critical production onshore, the company argues it can help the U.S. counter reliance on foreign suppliers while creating new jobs. “We’re building the factories that will secure American leadership in advanced manufacturing,” Power said. Hadrian expects both the Mesa site and its new headquarters to be operational by early 2026.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Matthew Holloway | Sep 3, 2025 | Economy, News
By Matthew Holloway |
Congressman Paul Gosar (R-AZ09) recently shared an article from Newsweek, highlighting the Optional Practical Training (OPT) program, which allows corporations to hire student visa holders to sidestep tax liabilities, such as Medicare and Social Security. Commenting on the article, Gosar offered a scathing condemnation of the companies that benefit from this underhanded method for evading the laws governing the hiring of foreign nationals.
According to Newsweek, Anne Walsh, a partner at the San Francisco-based law firm Corporate Immigration Partners, explained the OPT program, saying, “There’s no wage obligation in the way that there is in H-1B where we’re very tied to an obligated wage.” The outlet noted that in fiscal 2024, 109,661 were enrolled by American companies, allowing the firms to take them on as students under F-1 visas, with the heaviest hitters including Amazon, the University of California, and Google as the top three.
In his post to X, Gosar wrote, “OPT incentivizes greedy businesses to fire Americans & replace them with inexpensive foreign labor by avoiding having to pay FICA and Medicare payroll taxes and other employee benefits. My bill, HR 2315, would terminate the OPT Program.”
Rep. Gosar’s bill, the Fairness for High-Skilled Americans Act, reintroduced in March, would terminate the OPT program entirely.
“The OPT program completely undercuts American workers, particularly higher-skilled workers and recent college graduates, by giving employers a tax incentive to hire inexpensive, foreign labor under the guise of student training. Never authorized by Congress, OPT circumvents the H-1B visa cap set by Congress by allowing over 100,000 aliens admitted into our country on student visas to continue working in the United States for another three years after completing their academic studies,” Gosar said in a statement.
He continued, “OPT incentivizes greedy businesses to fire Americans and replace them with inexpensive foreign labor by avoiding having to pay FICA and Medicare payroll taxes and other employee benefits. The OPT program completely abandons young Americans who have spent years and tens of thousands of dollars pursuing careers in science, technology, engineering, and mathematics only to be pushed out of those fields by cheap foreigners. Our government should not be incentivizing foreign employees over Americans. This badly flawed government program should be eliminated.”
While the bill does nothing to prevent students on F-1 visas from working in the U.S. while enrolled in a College or University, it does eliminate the program that allowed them to remain in the U.S. for three years beyond their F-1 visa, preserving jobs for highly-skilled Americans, per Gosar’s office and saving the Social Security and Medicare trust fund $4 billion annually according to Numbers USA.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Matthew Holloway | Sep 2, 2025 | Economy, News
By Matthew Holloway |
Rep. Eli Crane (R-AZ02) and the U.S. Small Business Administration announced last week that low-interest federal disaster loans are now available. The aid applies to businesses, nonprofits, and tribal nations that suffered losses from the Dragon Bravo and White Sage fires on the Grand Canyon’s North Rim and Kaibab Plateau.
The SBA has since announced that a series of meetings will be held across Coconino County, with in-person mobile services available to assist with the application process.
According to a press release from Rep. Crane, “These loans are intended to cover working capital needs and operating expenses that could have been paid had the disasters not occurred.”
The Economic Injury Disaster Loan (EIDL) is available to eligible businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. However, the administration noted it is “unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.”
The purpose of the loans, as explained by the SBA, is “for working capital needs caused by the disaster, and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.”
As of this report, the Dragon Bravo fire has burned 145,504 acres and is 64% contained. It has cut a smoldering path of destruction from the north rim of the Grand Canyon along both sides of Arizona State Route 67 reaching as far as House Rock Valley and then along the east side of the State Route for nearly another twenty miles, leaving a scar almost 16 miles wide at its widest point.
The White Sage fire burned nearly 59,000 acres and was completely contained as of August 21st after spreading in a widening eastward arc from White Sage flat through the Kaibab National Forest toward Coyote Valley.
For more information about the SBA EID loans or to apply, please click here, call SBA’s Customer Service Center at (800) 659-2955, or email disastercustomerservice@sba.gov.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Jonathan Eberle | Aug 30, 2025 | Economy, News
By Jonathan Eberle |
Financial fraud is emerging as one of Arizona’s most costly economic threats, with residents projected to lose more than $4 billion in 2025, according to a new analysis from the Common Sense Institute (CSI). The report, The Impact of Financial Fraud in Arizona, outlines how scams, identity theft, and other fraudulent activity are draining household finances and hampering economic growth. In 2024, Arizonans reported nearly 55,000 fraud cases, leading to $521 million in losses—an increase of 384 percent since 2020.
CSI economists estimate that only about 14 percent of fraud is ever reported, meaning the true cost is far higher. By next year, the institute projects that reported losses could reach $558 million, with an additional $3.4 billion in unreported incidents.
“Arizona is projected to lose over $4 billion to financial fraud in 2025. That’s nearly 1% of the state’s total GDP,” said Zachary Milne, senior economist and research analyst at CSI. “Fraud is a systemic drain on Arizona’s families and the economy. Eliminating these losses would mean billions in growth, tens of thousands more job opportunities, and lower prices for Arizonans.”
Key Findings from the Report
- The average loss per incident in Arizona was $6,270—nearly 30 percent higher than the national average.
- Arizona ranked 11th nationally for fraud cases, with 1,459 reports per 100,000 residents.
- Older residents face the greatest impact. Adults 60 and older account for two-thirds of internet-based fraud losses, with those 70 and older suffering the highest average dollar losses.
- For every dollar lost to fraud, Arizonans lose $1.06 in personal income due to broader economic effects. Families also face slightly higher prices on everyday goods and services.
- Fraud contributes to reduced economic activity, costing Arizona more than 45,000 jobs.
Fraud schemes cited in the report range from identity theft and phishing to romance scams, wire transfer fraud, and elder financial abuse. As more commerce moves online, CSI researchers warn that the risks will only grow.
The study also highlights how financial crime affects more than direct victims. Lost spending power, higher security costs, and reduced consumer confidence create ripple effects across the state’s economy. CSI estimates fraud-related losses shrink Arizona’s GDP by $5.2 billion annually. Nationally, the FBI and Federal Trade Commission tracked tens of billions of dollars in fraud losses in 2024, part of a steady upward trend over the past five years. Arizona, with its above-average loss rate and older population, is particularly vulnerable.
The report concludes that combating fraud is not only a matter of protecting individuals but also of preserving Arizona’s long-term economic health.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 26, 2025 | Economy, News
By Jonathan Eberle |
Arizona’s labor market continued to struggle in July, losing nearly 5,000 jobs and marking the state’s third consecutive month of employment decline, according to the latest data from the Bureau of Labor Statistics.
The state shed 4,900 nonfarm jobs on a seasonally adjusted basis last month, a 0.15% decrease that ranked Arizona 46th among all states in monthly job growth. Since April, the state has lost a total of 23,400 jobs—the steepest decline in both raw numbers and percentage change of any state in the nation.
Nationally, employment also slipped, falling 0.12% in July. Twenty-one states reported job losses.
On a year-over-year basis, Arizona gained 29,600 jobs, a 0.9% increase that puts the state roughly in line with the national average of 1.0%. But the pace of growth has slowed sharply compared to recent years. So far in 2025, Arizona has added just 5,200 jobs—an average of 743 per month. Between 2022 and 2024, monthly job growth averaged more than 5,300.
Economists say the state remains well below its pre-pandemic trajectory. Arizona now has about 254,400 fewer workers than it would have had if its 2017–2019 growth trend had continued. At the current pace, the gap is unlikely to close.
The state’s mining and logging industry was the strongest performer, adding 1,400 jobs in July and growing nearly 10% over the past year. Analysts credit federal policy shifts and rising demand for U.S.-sourced raw materials like copper and uranium for the sector’s continued momentum.
By contrast, manufacturing continued to contract, losing 1,100 jobs last month and more than 3,000 over the past year—a 1.6% decline. Nationwide, the sector has also struggled, with 29 states reporting year-over-year manufacturing job losses. Leisure and hospitality posted the steepest monthly decline in Arizona, down 0.9% in July.
Arizona’s unemployment rate remained unchanged at 4.1%, holding steady for the fifth straight month. The labor force participation rate also stayed flat at 61.4%. By comparison, the U.S. unemployment rate ticked up to 4.2% in July, while the national participation rate edged down to 62.2%. Both Arizona and the nation remain below pre-pandemic participation levels.
Wages showed modest improvement. Average hourly earnings in Arizona increased by 10 cents in July to $34.79, a 0.29% rise that ranked 18th among all states. Over the past 12 months, wages in the state climbed 4.9%, outpacing the national average of 3.9%. Adjusted for inflation, real wages in Arizona are up 4% compared to just 1.1% nationwide.
Still, long-term wage trends tell a different story. Since April 2020, inflation-adjusted pay in Arizona has fallen 4.1%.
The report also underscored concerns about the reliability of monthly employment estimates. June’s figures were revised downward sharply—from a reported loss of 8,400 jobs to a revised loss of 15,200. That revision ranked as the seventh largest adjustment among all states.
Economists caution that declining survey response rates and lingering disruptions from the pandemic have increased volatility in state-level labor data, making short-term trends harder to interpret.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 19, 2025 | Economy, News
By Jonathan Eberle |
Arizona businesses are taking on some of the nation’s largest loans, according to a new study that analyzed Small Business Administration (SBA) lending data from 2021 through 2024.
The report, compiled by Fleysher Law Bankruptcy & Debt Attorneys, found that companies in Arizona borrowed an average of $699,343 per loan, placing the state sixth highest nationwide. In total, 5,293 SBA loans worth more than $3.7 billion were approved in Arizona during the study period.
Georgia topped the list, with businesses borrowing an average of $795,216 per loan across 8,099 approvals, amounting to $6.4 billion. Texas and California followed, averaging $770,887 and $765,968 per loan respectively. California led all states in both total approvals (31,610) and overall loan value ($24.2 billion).
Other high-borrowing states included Alaska ($725,285), North Carolina ($722,981), Louisiana ($663,950), Nevada ($647,991), Alabama ($637,609), and Utah ($630,412). Maine ranked lowest, with businesses averaging just $272,290 per loan.
The study highlights wide regional differences in borrowing patterns, particularly with Southern states recording higher average loans. Analysts note that while large loans may suggest increased financial obligations, they are often a sign of investment rather than distress.
“This data shows clear differences in how businesses across the country access financing,” a spokesperson from Fleysher Law said. “Though large loans mean that the company needs money, it doesn’t automatically signal financial trouble. Many businesses borrow for working capital, equipment purchases, or product development.”
The report reviewed three types of SBA loans:
- 7(a) Loans, which provide flexible funding for a variety of business needs.
- 504 Loans, designed for fixed assets such as real estate, buildings, or large equipment.
- Microloans, offering up to $50,000 for smaller businesses or startups.
The findings underscore how companies across the U.S. are leveraging federal loan programs to finance operations and growth. With economic pressures continuing, access to capital remains a critical factor in business sustainability.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
