NewsPhoenix is swiftly gaining momentum as the city of the future
June 21, 2023
Phoenix is garnering attention for recent investments in computer chip manufacturing and electric and autonomous vehicles.
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- This showcases efforts to diversify the city's economy, which collapsed during the 2008 housing crash.
- The area has attracted major semiconductor companies since 1949, as well as automakers testing their products since the 1940s and 1950s.
- Homegrown innovation is emerging, with venture capitalists investing in local startups and Intel engineers leaving to start their own ventures.
- However, Phoenix faces housing affordability issues and water security challenges that must be addressed for its star to continue rising.
