“What makes Peoria unique is that everything is new,” says Maria Laughner, Director of Economic Development Services for the city of Peoria, Arizona. “We’re emerging. We’ve been a bedroom community all these years, and now we’re emerging in terms of employment. We’re a great place to live,” she says.
Combining economic opportunities with a lively lifestyle, the vibrant and thriving Peoria is a great place to invest in retail, dining, and hospitality, with its strong pipeline of new housing, robust infrastructure investments, and several prominent growth zones.
Boasting some of the highest levels of education in the area, with a median household income of $104,912, pad-ready locations such as mixed-use nodes and high-visibility intersections, and the ability to provide concierge-level assistance for new enterprises, Peoria is also strategically situated, connected to the larger Phoenix Metro area and beyond by Loops 101 and 303.
Excitement in the desert
Established in 1954, this exciting desert city, located northwest of Phoenix and housing more than 209,000 residents, has expanded from its original one square mile to encompass more than 176 square miles of stunning Sonoran Desert in Yavapai and Maricopa counties.
Buoyed by first-rate facilities like Lake Pleasant, the Peoria Sports Complex, a vast network of hiking and cycling trails, and a wide range of cultural and artistic events, Peoria secured the top spot for West Valley cities in May 2025 when it was named #7 in Arizona’s Best Places to Live list and was included in U.S. News and World Report’s Best Places to Live list. Indeed, whether you’re just starting out or are interested in expanding or moving your business, this outstanding team of economic development professionals will help you find your ideal site.
Currently, supporting development in the area is key, particularly in the Peoria Innovation Core (PIC), which occupies 7,300 acres along Loop 303 and is poised to become Peoria’s next significant economic driver. With 30,000 new homes planned nearby and its strategic location near TSMC (Taiwan Semiconductor Manufacturing Co.) and other cutting-edge industries, this 20-plus-year growth area will require restaurants, retail, and hotels to accommodate the thousands of workers, residents, and tourists attracted to this thriving neighborhood.
There are, however, some challenges to overcome. “While Peoria is a big city—about 176 square miles—a good chunk of our land is part of the Arizona State Land Department (ASLD), which means it’s not available for private use,” Laughner explains. “You have to go through a state public auction process, which is very complex. The way that the state lands are set up, their goal, according to state statute, is to sell land to the highest bidder, and that money goes to fund schooling in Arizona,” she says. “If a developer or a user is interested in a location somewhere on state land, they have to perform a great deal of due diligence. There are cultural studies, environmental studies, appraisals, and more. And then ASLD reviews everything, which only happens once a month, so getting approval to go to auction on a parcel is a long process.”
If approved, a public notice announces an auction, which takes place 10 weeks later. Nothing associated with the land is done until after the auction, as it still takes from 60 to 90 days to receive the deed. For the 834-acre parcel in the Peoria Innovation Core, the City of Peoria is leading this process; once it succeeds at the auction and acquires ownership, the city will parcel out the land and sell it to developers.
All about development
Heralded as the “future of growth and opportunity,” the North Peoria opportunity spanning more than 8,600 acres over three key areas—the Peoria Innovation Core, North Peoria Gateway, and FIVE NORTH at Vistancia—is the city’s best chance for long-term, sustainable economic development.
This area is designed as a dynamic blend of residential zones, business districts, job centers, and open space. With the help of key partnerships with the Arizona State Land Department and strategic investments in critical infrastructure, North Peoria is well-positioned to spearhead Peoria’s next phase of innovation, economic growth, and enhanced quality of life.
Although the process to acquire land is complex and can be time-consuming, economic incentives for manufacturing in Arizona, including the Qualified Facility Tax Credit, support the establishment and growth of manufacturing facilities, research and development facilities, and headquarters buildings. Additionally, according to Arizona law, machinery and equipment used directly in production, research, and development are exempt from sales tax.
“Peoria is very future-focused, and we’re putting our own money into creating the transportation and the utility infrastructure so that the land is shovel ready,” adds Laughner. “Most cities don’t do that. We’re fronting all of the money to do all of this. The city is very forward-looking, and we’re putting a lot of intention into this.”
It’s all done very deliberately to help Peoria grow, she emphasizes. “This land isn’t available to just anybody. We want to say, ‘This is the vision for the area, and we will be adopting zoning that demonstrates how the land plan can be developed. It is our intention to target advanced manufacturing and semiconductors because of the strength of TSMC and Amkor.’”
Always entertaining
Another vital and growing area, Peoria Eighty Three, also known as P83, located in central Peoria, is considered the city’s premier entertainment district. The launching point for dozens of entertainment options, P83 is situated on 83rd Avenue just south of Bell Road, and offers “something for everyone,” including not just fantastic dining options, bars, and shopping, but the Peoria Sports Complex, which hosts year-round player development and spring training for both the Seattle Mariners and the San Diego Padres, as well as public and private events throughout the year.
Whether looking for entertainment for the family or a romantic evening, the area is home to dozens of prospects, such as local eateries like Osaka P83 Teppanyaki & Sushi, Postino Wine Café, North Italia, and Revolu Modern Taqueria + Bar’s fresh Mexican cuisine. Fogo de Chao is currently doing a tenant improvement.
“It’s like a Mecca for entertainment and restaurants,” says Laughner. “There are Broadway theaters, a movie theater, and we’re getting a lot of new restaurants that are part of the Peoria Sports Complex. It’s a very well-defined area.”
To promote growth, the city has acquired a number of properties and is collaborating with eateries and merchants from throughout the Phoenix metro region to introduce fresh concepts and ideas to this important neighborhood. Foot traffic will be increased by projects in and around downtown, and every new project accelerates growth. Whether it’s the 6,600-square-foot Caldwell County BBQ or a 7,000-square-foot-plus community entertainment concept called Jefferson House, more growth and prosperity will result from these new developments, which will also draw more tourists.
“When we started, we were this one-square-mile little town with an agricultural community, and we still have that downtown area, but now we’re investing to make it livelier,” Laughner tells us. “We’ve seen much growth in new multifamily development, adding good density, and the city is working with two large infill developers.”
There are also a number of historical sites to take in, as well as the library, the vibrant city center, and a large park. “With all of this in place, what we’re trying to do is a redevelopment and infill development to revitalize our downtown.”
Getting down to business
When it comes to choosing the perfect site to set up business, a wide range of helpful regional services and resources are combined in Peoria’s award-winning Business Concierge program, the initial point of contact for whatever prospective clients need—whether they have a clear concept and are considering launching a business; need resources for expanding a company; or need help navigating the city’s planning, zoning, signs, code enforcement, or similar.
A city-to-business outreach program, ribbon cuttings, the Business Brief newsletter, and collaborations with organizations like the Peoria Chamber of Commerce, Grand Canyon University, and Local First Arizona are just a few of the services offered.
Despite its many successes, Peoria’s biggest obstacle remains, simply, that it doesn’t own its lands, a challenge for developers due to the time involved in the disposition of state land. “Very few developers come in and say they can wait two years, but the city is getting ahead of that,” says Laughner. “It’s a difficult process and takes persistence, but we’re getting there.”
Peoria is a forward-thinking city that aids development by simplifying permits, with a pro-business leadership team that operates with impressive speed. Peoria’s workforce, educated and stable, is also poised to attract more business and jobs to the area, building on the city’s reputation as a solid community looking to reach its full potential.
“We’re a great place to live,” says Laughner. “We have a ton of amenities and natural attractions, and North Peoria is beautiful in its topography, with desert mountains and gullies. It’s really attractive.” With something for everyone, “we also have great master planned communities and everything in between—and it’s because of this beautiful area.”
