Chandler’s economic future, like most of the East and West Valleys, is on a high-tech path, but the city’s agricultural legacy is still recognizable along the Price Corridor— the span of property that is home to tech giants like Intel, Orbital, PayPal, and ATK.
The Price Corridor, Chandler AZ Image: Apartments.com
Chandler’s economic evolution from cotton fields to electronics manufacturing took place between 1976 and 1987 and employed 70 percent of the city’s workforce.
In the decades since, Chandler veered toward the tech industry, and the city’s microchip technology-fueled economy is attracting new employment-seeking workers to the area. Growth in the area is stimulated by both the expansion of existing companies, and new businesses moving to Chandler.
Corporate campuses adjacent to acres upon acres of former cotton fields offer a glimpse of Chandler’s agricultural history, but that landscape is swiftly changing. Demand for more Class-A and industrial workspace is expected to overtake the open fields in short order.
Currently, Chandler’s vacancy rate for industrial space is 5 percent, and 9.9 percent for office space, according to recent CoStar statistics provided by the city. These are among the lowest vacancy rates in the East Valley, making the city a leading destination for businesses and developers. The East Valley attracts workers not only for its economic growth, but its concentration of quality schools, housing, and lifestyle opportunities.
Microchip Technology is expanding its campus by 260,000 square feet and CyrusOne is proceeding on its 2 million square foot data center buildout at the Continuum business park.
The Price Corridor’s location near the freeway system provides quick access to a large employment pool, providing the area with accessibility to regional features and amenities, as well as workers in neighboring cities like Tempe and Scottsdale.
Developers have significant projects in the works to meet the city’s need for industrial and office space, which are scheduled to start by 2019. With expanded industrial space comes demand for new residential housing projects to accommodate Chandler’s massive—and ever-growing—workforce.
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Chandler tech industry growth