Arizona is central to US security interests. It is a rising economic powerhouse that is strategically positioned between two of the world’s largest economies California (fifth), and Mexico (twelfth), providing easy access to consumers (86 million+ within a one-day trucking radius), labour (skilled and unskilled), and capital.
Arizona benefited disproportionately from Biden-era industrial policy initiatives (especially the CHIPs Act and the Inflation Reduction Act). Arizona’s international trade flows increased 12% in 2024 to over NZ$56.33 billion, compared to average export growth of just 2% in other US states.
Key industries include defence, semiconductors, advanced manufacturing, and healthcare. Following TSMC’s March 2025 announcement of a further $100 billion investment, Arizona has attracted $NZ$359 billion+ investment into the semiconductor industry - the highest anywhere in the US.
You are welcome to share, distribute, re-use and re-publish this report as you see fit, as long as no substantive changes are made, and it continues to be attributed to the Ministry.
Read report
You can view the complete list of market reports published to date here: www.mfat.govt.nz/market-reports
