Intellectual capital can be a destination’s greatest strength when competing for convention business. In Phoenix’s case, the transformative growth and investment in industries like bioscience and semiconductor chip manufacturing is already paying off, with major conventions choosing the Valley of the Sun because of its valuable on-the-ground knowledge.
Set to bolster its economy as well as its appeal for major conventions, Phoenix is continuing to put big-time effort into the development and marketing of these industries.
“Strategic partnerships with economic development partners and the growing intellectual capital ecosystem across these sectors helps us create and sustain a compelling narrative and makes the case for Phoenix as a premier destination for these events,” said Lorne Edwards, chief sales officer for Visit Phoenix.
See how the city is elevating its growth sectors to book conventions—and why your next meeting stands to benefit.
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Semiconductor Chip Manufacturing
SEMICON West is coming to the Phoenix Convention Center for the first time this fall, October 7-9. The convention is North America’s premier microelectronics exhibition and conference and previously was in San Francisco for 50 years. The show will now alternate years with its original home city, coming to Phoenix in 2025, 2027 and 2029.
The location changeup is a significant one. SEMICON West cites the rich manufacturing history, skilled workforce, educational partnerships and business-friendly environment of Phoenix as the major reasons for its move from San Francisco.
“Arizona has long been a leader in semiconductor advancement since Motorola established its facility in Greater Phoenix in 1949,” convention organizers noted on its website. “This paved the way for industry giants like onsemi, NXP, Microchip Technology and many more. With ongoing growth and major investments from Intel, TSMC (Taiwan Semiconductor Manufacturing Company), Amkor and ASM, Arizona is recognized globally as a hub for advanced manufacturing.”
The tremendous investment in the semiconductor space is having a ripple effect across the destination, even increasing the international airlift to Phoenix. TMSC recently announced plans to invest $165 billion into its Phoenix facilities, making it the United States’ largest foreign direct investment ever. As a result, this May, Phoenix Sky Harbor International Airport announced its first nonstop air service to Asia (and the first for Arizona), pending final government approvals, to Taipei’s Taoyuan Airport via STARLUX Airlines.
“Phoenix’s first nonstop flight to Asia reflects the incredible strides we’ve made with our local economy, and our emergence as an international city,” said Mayor Kate Gallego in a release about the news. “TSMC’s historic investment in Phoenix has brought thousands of high wage jobs and boosted our reputation as a semiconductor hub, and now it’s helping increase air service demand.”
Phoenix international flights add more than $3 billion to the local economy each year, according to the airport’s most recent economic impact study. This new service is estimated to have a $100 million-plus economic impact each year.
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Bioscience
Phoenix has seen major impact as a result of its investment in the bioscience sector, primarily due to the 30-acre (and growing!) Phoenix Bioscience Core. This major development enjoys an especially convenient location adjacent to the Phoenix Convention Center and the more than 4,000 hotel rooms surrounding it in downtown Phoenix.
The Phoenix Bioscience Core is home to the highest concentration of research scientists in the state, with anchor institutions including Arizona’s three public research universities—Arizona State University, Northern Arizona University and the University of Arizona. Currently, there are 1.7 million square feet of research, academic and clinical facilities onsite, with more than 6 million additional in the works. Also, more than 20 research institutes are within a two-mile radius of the campus.
Large events in the bioscience, medical and healthcare sectors are taking notice. According to Visit Phoenix, between 2015-2019, Phoenix hosted an average of six large medical/bioscience conventions annually. Between 2022-2026, the Phoenix Convention Center will host an average of 13 medical conventions, which are expected to draw an estimated 41,200 visitors and generate 76,000 contracted hotel room nights and $63.7 million in spending annually.
This article was created in collaboration with Visit Phoenix.
