Rapid Growth Projected for Chandler Business Corridor
Chandler's Price Road Corridor will undergo a rapid growth spurt in the next two to three years. The Price Corridor, one of Arizona's major employment hubs, will experience a flurry of new businesses and expansions over the next several years.
The Arizona Republic article lists three major factors that are driving the rush of businesses to the area: a variety of affordable housing, a good labor pool, and an array of amenities like the Chandler Fashion Center. Still in play, are 200 of the sector's remaining 500 acres. Real estate brokers forsee the creation of large numbers of jobs in the high tech, biomedical, financial and industrial fields.
Pete Wentis, Senior Vice President of DB Richard Ellis, stated:
"The Price Corridor is probably one of the most dynamic corridors in the entire valley at this point. Probably six or seven major corporations are jockeying for a location on that corridor, whether it's for a brand new facility or an expansion."
The corridor is anchored by Intel Corporation's Ocotillo Campus. Intel, Chandler's largest employer, is currently laying the groundwork to build three more computer-chip-making factories at the location.
Residential growth plays a significant role in attracting businesses, as companies are willing to go where the talent is. Said Christine Mackay, industrial specialist for the City of Chandler:
"It used to be that residential followed industry. In this day and age, industry follows residential."
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