AZBusiness January/February 2022 by AZ Big Media

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JANUARY // FEBRUARY 2022

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WHO’S WHO IN 2022 WHO’S WHO IN 2022

ARIZONA MINING

GREATER PHOENIX ECONOMIC COUNCIL

FROM LEFT: Andy Kvesic, Radix Law; Alicia M. Bull, Burch & Cracchiolo; Dieter Gable, TBConsulting; and Brad Krause, Krause Architecture + Interiors.

BE IN THE KNOW. BE IN THE NOW. Join AZ Big Media Publisher Amy Lindsey and Editor in Chief Michael Gossie on the AZ BIG Podcast. Each week, an intriguing guest lends their expertise and industry knowledge to our listeners, providing thought-provoking and insightful conversations on a wide variety of timely topics.

Upcoming AZ BIG Podcast guests: Bridget Binsbacher // Executive director at Cactus League Baseball Association Trevor Wilde // CEO of Wilde Wealth Management Alana Millstein // Co-founder and owner of Henri M. Brennan Ray // Shareholder at Burch & Cracchiolo

Available wherever you listen to podcasts!

AB | January - February 2022

Table of Contents 6

Trendsetters

Leadership Profile

Housing Market

Healthcare

Who’s Who in 2022

Marketing

Tourism

Dining

40 Arizona Mining

No joke — lawyers keep our economy humming

50 Excellence in Banking 66 Top 100 Lawyers Greater Phoenix 89 Economic Council

I don’t think anyone — even attorneys – would dispute the notion that lawyers get a bad rap. There are millions of lawyer jokes, including this one: “How many lawyer jokes are there, anyway? Only three. The rest are true stories.” Despite the jokes, the profession gets an unwarranted bad reputation based on stereotypes — they protect and defend the guilty, they charge outrageous fees, some are “ambulance chasers.” The truth is, the legal profession in Arizona is what makes our economy as strong as it is today. Lawyers protect the intellectual property that helps locally grown tech companies thrive. Lawyers clear the way for companies like Taiwan Semiconductor Manufacturing Company to invest $12 billion in Arizona and create thousands of jobs. And lawyers like those at Burch & Cracchiolo give back to the community through its B&C Star Teacher Award, which gives Arizona teachers $500 checks for classroom supplies and the school receives an additional check for $250. On top of that, lawyers that do pro bono charity cases often stand up for those that can’t do it on their own, and many other lawyers constantly work to make the world a better place. So for all the negativity associated with the legal profession, the simple truth is that lawyers are the glue that holds our society and our business infrastructure together. That’s why this issue of Az Business is so important to me because we feature the Top 100 Lawyers in Arizona. The 100 attorneys were chose from a field of more than 2,000 attorneys under consideration. So, if you’re ever in need of a good attorney, and, at some point we all will be, we’ve got the list for you. Enjoy this issue of Az Business.

On the cover: FROM LEFT: Andy Kvesic, Radix Law; Alicia M. Bull, Burch & Cracchiolo; Dieter Gable, TBConsulting; and Brad Krause, Krause Architecture + Interiors. 2

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Michael Gossie Editor in chief michael.gossie@azbigmedia.com

GET NOMINATED! GET RECOGNIZED!

NOMINATIONS ARE NOW BEING ACCEPTED FOR: MOST INFLUENTIAL

WOMEN

IN ARIZONA 2022

Champions of Change will recognize those dynamic innovators and trailblazers who are changing Arizona’s business landscape through leadership, visionary thinking and philanthropy to earn the right to be called a Champion of Change. Champions of Change will honor both individuals and organizations.

Our Az Business and AZ Commercial Real Estate magazine will celebrate and honor the publications’ lists of the 2022 Most Influential Women in Arizona! The awards recognize women in real estate, business, nonprofits and other leadership or influential roles.

In partnership with BestCompaniesAZ, Arizona’s Most Admired Companies (MAC) is an awards program designed to recognize the contributions and impact all Arizona employers bring to our great state. This is the most comprehensive and prestigious award program in Arizona.

NOMINATIONS OPEN THROUGH FEBRUARY 8, 2022.

NOMINATIONS OPEN THROUGH MARCH 1, 2022.

NOMINATIONS OPEN THROUGH MAY 28, 2022.

ALL NOMINATIONS CAN BE SUBMITTED AT: AzBigMedia.com/awards-events/

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SPOTLIGHT NURSERY TIME: The Bob & Renee Parsons Foundation granted $250,000 to Hushabye Nursery in support of its inpatient detox nursery and recovery center for infants experiencing Neonatal Abstinence Syndrome (NAS). NAS affects newborn babies who were exposed to opioids in the womb and requires a complex and painful detoxification process in the days following birth. A baby is born every 15 minutes in the U.S. with NAS resulting from prenatal opioid exposure. HELPING VETERANS: TriWest Healthcare Alliance has been honored with the prestigious 2021 HIRE Vets Platinum Medallion Award in recognition of the company’s recruiting, hiring, and retention of employees who are military Veterans. CHANGING ITS COMMUNITIES: Desert Financial Credit Union is donating $137,500 to 12 Arizona-based nonprofits through its annual community development grant program. The grant program at Desert Financial has provided more than $1 million in the past decade to local nonprofits focused on education, child and youth services, housing and human services, and hunger and food insecurity. TONS OF IMPACT: Associates across Phoenix-based Sparklight and the other Cable One family of brands (Fidelity, Clearwave, Hargray and ValuNet) pitched in over the holiday season to help feed families in need by donating more than nine tons of food to local food banks throughout the company’s 24-state footprint. GIVING BACK: HomeSmart, headquartered in Scottsdale, donated more than 800 gifts for 300 kids to Arizona’s Children Association’s (AzCA) Gifts of Hope fundraiser.

President and CEO: Michael Atkinson Publisher: Amy Lindsey Vice president of operations: Audrey Webb EDITORIAL Editor in chief: Michael Gossie Senior editor: Rebecca L. Rhoades Staff writer: Kyle Backer Interns: Jacob Flores | Elinor Tutora Contributing writers: Susan Anable | Alison Bailin Batz | Daniel Oberhaus | Erin Thorburn ART Design director: Bruce Andersen Art director: Mike Mertes Marketing designer: Heather Barnhill MARKETING/EVENTS Marketing & event specialist: Lynette Carrington Digital marketing specialist: Chrissy Souders OFFICE Special projects manager: Sara Fregapane Database solutions manager: Amanda Bruno AZ BUSINESS MAGAZINE Senior account executives: David Harken | April Rice Account executive: Maria Hansen AZ BUSINESS LEADERS Director of sales: Sheri Brown

SHOUT OUT “I’d like to congratulate the innovative and exceptional attorneys recognized inside this issue of Az Business as the Top 100 Lawyers in Arizona. Thank you for making our community great.” Amy Lindsey, publisher AZ Big Media

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AZRE | ARIZONA COMMERCIAL REAL ESTATE Director of sales: Ann McSherry EXPERIENCE ARIZONA | PLAY BALL Director of sales: David Ealy RANKING ARIZONA Director of sales: Sheri King Az Business magazine is published bi-monthly by AZ BIG Media, 3101 N. Central Ave. Suite 1070, Phoenix, Arizona 85012, (602) 277-6045. The publisher accepts no responsibility for unsolicited manuscripts, photographs or artwork. Submissions will not be returned unless accompanied by a SASE. Single copy price $4.95. Bulk rates available. Copyright 2021 by AZ BIG Media. All rights reserved. No part of this publication can be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from AZ BIG Media.

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PANDEMIC LESSONS LEARNED TRENDSETTERS

The COVID-19 pandemic impacted everyone in the business community — from CEOs to cleaning crews. And while the pandemic brought immeasurable losses for many, it also was an opportunity for some of Arizona’s most influential business leaders to learn lessons. Here are a few.

“The pandemic taught me that you don’t all have to be in the same room to communicate, but it sure helps every once in awhile.” Ed Bull, shareholder, Burch & Cracchiolo Randy Nussbaum, shareholder, Sacks Tierney: “The pandemic illuminates Martin Luther King Jr.’s quote: ‘The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.’ The COVID-19 pandemic has allowed many of us to prove our ultimate measure.” Heather Kane, CEO, Arizona and New Mexico, UnitedHealthcare: “Even in the face of such an unprecedented challenge, our team was able to rally and find new ways of conducting business virtually, deliver on all business commitments and in many ways find some lasting improvements to the way we work and interface with our customers.” David J. Jacofsky, MD, chairman and CEO, The CORE Institute and HOPCo: “The pandemic further strengthened our commitment to the community. Through the HOPCo platform, The CORE Institute provided aid to the community by offering an urgent orthopedic program to provide walk-in orthopedic care to help ease the burden on hospitals. We also offered COVID antibody testing as well as vaccines. Adapting to the community’s needs makes us all stronger and more resilient.”

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Sandra Watson, president and CEO, Arizona Commerce Authority: “The pandemic changed how we communicate and highlighted the importance of adaptability. I emphasize a servantleadership style with our team that focuses on helping others grow and succeed, and this approach became especially important in light of last year’s many challenges. Our team’s continued focus on collaboration and communication drives our efforts to grow and strengthen Arizona’s economy.”

Peter S. Fine, president and CEO; Banner Health: “Staying totally focused on the task at hand and tuning out unrelated noise requires focusing on the most critical issues.”

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TRENDSETTERS Data-sharing made easy New technologies give rise to innovative business models and products by simplifying the mechanics of data-sharing across and between organizations — all while preserving the veil of privacy.

Cloud goes vertical Cloud and software vendors now offer vertical-specific solutions that modernize legacy processes and jump start innovation. Deploying them is a process of assembly, thus freeing organizations to focus resources on competitive differentiation.

IT, disrupt thyself: Automating at scale

Future-forward IT organizations are modernizing the “IT back office,” moving away from humans reacting to tickets and assignments to a proactive model of self-service and engineered automation.

Cyber AI: Real defense

TECH TRENDS FOR 2022

Building on resilience from the initial response to the COVID-19 crisis — which expedited digital transformation initiatives from years to months and, in some cases, even weeks — the 13th annual “Deloitte Tech Trends Report” finds that pioneering organizations are continuing to challenge orthodoxies by automating, abstracting and outsourcing business processes to increasingly powerful technology such as cloud, security and data in an environment of extreme uncertainty. Here are seven tech trends the Deloitte report says to watch in 2022.

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As organizations struggle with security breaches, cyber AI can be a force multiplier, enabling security teams not only to respond faster than cyber attackers can move but also to anticipate these moves and act in advance.

Blockchain: Ready for business Blockchain and other distributed ledger technology platforms are fundamentally changing the nature of doing business across organizational boundaries and helping many companies reimagine how they make and manage tangible and digital assets.

The tech stack goes physical The explosion of smart devices and increased automation of physical tasks is extending IT’s remit to include networkconnected smart factory equipment, industrial robots, drones, sensorembedded devices and countless other business-critical assets.

Lopvoetion s

With Valentine’s Day coming up, these hotspots turn up the heat on Arizona’s cocktail industry By ALISON BAILIN BATZ

// The Americano

With celebrity chef Scott Conant in the kitchen, you better believe the talent behind the bar is all about setting the bar for fine dining drinks in the desert. Always changing, there are only two things that remain on the menu as constants: quality and craftsmanship. The most recent menu was one for the record books, complete with black lights and translucent skeleton leaves.

// Plaza Bar

This little piece of heaven located on the patio of the Fairmont Scottsdale Princess is equal parts swanky, sleek and endlessly chic. The centerpiece of the venue is a massive square outdoor bar, which is elevated a few steps above the main fire pit seating, making it standout day and night. The cocktail menu offers something for everyone, all divided into chapters, making it exceptionally easy to digest (or swallow).

The perfect drink is like the perfect date. First, its visual beauty strikes you. Then, you are entranced by its perfume. Finally, you are delighted to find it equal parts sweet, tart and spirited from start to finish. Looking to fall in love? These slingers of spirits are changing the game when it comes to perfect drinks. Allow us to be your mixology matchmaker:

// Francine

This new Scottsdale staple tells the story of the French Riviera, where the owner was born and raised, through cocktails while complementing each dish. It also takes exceptional pride in offering seasonal ingredients in each cocktail, including those under the radar like papaya, sumac, plum and even Fresno chili shrub.

// Don Woods’ Say When

Perched atop Rise Uptown, a locally owned boutique hotel from the mind of Bitter & Twisted founder Ross Simon, Say When diverges from tradition by offering a menu themed around Spritzes and High Balls. Each has a retro-era presentation to help make you feel more 1972 than 2022 for a drink or two.

// Jade Bar

Under the leadership of Christiaan Röllich, Jade Bar at Sanctuary Camelback Mountain Resort is back at the forefront of cutting-edge cocktail couture in the Southwest. The Bar Chef: Handcrafted Cocktails author brought in his signature homemade syrups, bitters and wild mixes when he took over, marrying them to the resort’s high-end collection of spirits in a truly special way.

// Bitter & Twisted Cocktail Parlour Since opening in 2014, the radical bar has won both critical and popular acclaim for its innovative, from-scratch cocktail program that is presented in a whimsically packaged in an illustrated “Book o’ Cocktails” that changes annually. How high concept is it? There are five types of house-made ice alone, from hand-carved ice balls and punchbowlready “super cubes” to shaved ice and crushed nuggets.

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TRENDSETTERS

SPONSORED BY

Quick rise to the top

Bioscience drives economy A new report shows that the total annual economic impact on Arizona by the Translational Genomics Research Institute (TGen) is $426 million, a more than 300% increase from 2017. Including TGen’s business spinoffs and commercialization of its research technologies brings that total to $658 million. “TGen’s growth is among the greatest increases we have witnessed over 1,000 projects spanning 30 years of measuring economic impact,” says Paul Umbach, the founder and president of Tripp Umbach, which authored the report.

INNOVATIVE • • • • YOUTH

Levi Conlow and Robby Deziel, the 25-year-old co-founders of Lectric eBikes were recognized by Forbes 30 Under 30 for launching one of the fastest growing electric bike companies in the nation.

In its short five-year history, MacQueen & Gottlieb has been recognized locally and nationally for its exceptional practice, including being voted the No. 1 real estate law firm in Ranking Arizona. ““I’ve been fortunate to work with many great attorneys throughout my career, but I’ve never been part of a team like the one Patrick MacQueen and Ben Gottlieb have built at M&G,” says Pam Molnar, M&G’s director of firm administration. >> MedTech jobs coming Stryker, one of the world’s leading medical technology companies, has leased a new 104,000-square-foot manufacturing building in Chandler and production at the site is projected to start in mid-2022.

>> The puck stops here Ed Robson, an icon in the home building industry, has had a hockey arena named in his honor at Colorado College. The founder of Robson Communities, Inc. played hockey for the Colorado College Tigers in the 1950s and is a key donor for the state-of-the-art complex.

>> Sky’s the limit AvAir, earned the No. 1 position on Airline Economics’ Aviation 100 “Parts Supplier of the Year” rankings. This ranking is judged on several criteria including parts stocked, clients, number of employees – all areas that AvAir continued to focus on throughout the year.

>> Champions of diversity Geneva Financial has been ranked among the Top 100 Best Companies for Women and the Top 100 Best Companies for Diversity in America for 2021 as published in Business Insider Magazine.

>> Game-changing development Phoenix-based OncoMyx Therapeutics, a privately held immuno-oncology platform company, closed $50 million Series B financing to support the further development of OncoMyx’s pipeline of multi-armed myxoma immunotherapies for the treatment of solid tumors and hematological malignances and the advancement of the company’s lead candidate into clinical trials. 10

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LEADERSHIP PROFILE

MARKETING D

By MICHAEL GOSSIE

GIANT Here’s how Danielle Feroleto has helped Small Giants become an innovator in its industry

anielle Feroleto is the ultimate team player. “I’m a teacher at heart,” says the principal and owner of Small Giants, a woman-owned, award-winning marketing agency. “I love mentoring and teaching and watching people learn from the things that inspire them. Fostering an environment in which people continue to learn and grow only benefits us and our clients.” The essence of teaching is the heart of Feroleto’s career. She pioneered the first marketing and business development course at the Del E. Webb School of Construction at ASU in 2014, where she has served as an associate faculty member, educating hundreds of future construction professionals. In addition, her book “The Truth Helps: An Honest, Straightforward Guide to Project Interview Success,” has served as a guiding light for teams to win projects. Here’s what Feroleto had to say in a recent discussion. Az Business: What’s the special sauce that makes Small Giants such an effective agency? Danielle Feroleto: For our clients, the culture of responsiveness is our brand promise, and that responsiveness in this environment is critical. A lot of people make commitments, and they don’t deliver on them. They have good ideas, but they don’t come to fruition. To be a true partner to our clients, we’re as intensely focused and committed to the deadlines and deliverables as they are. Creative people that have an end goal and a deadline in mind — that’s a unique set of two different goals and we strive to achieve both of those goals. That makes us different as an agency. AB: How were you able to maintain that creativity and culture through the pandemic? DF: The COVID environment kind of accelerated innovation and pivoting, and we were all committed to getting through the unprecedented times in a unique way. It brought us together through different forms, even though we were remote. We’ve always had two offices, one in Denver and one in Phoenix, so we’ve mastered the art of how to collaborate remotely, but nothing replaces being together and just building that trust that comes with being face to face. I think having a blend of giving people time to be on their own and to think at a higher creative level and then also finding time for some assembly has been a good recipe for us. AB: What’s ahead for Small Giants in 2022 and beyond? DF: We just doubled our space and expanded into the entire second floor of the building we’re in. We’re making our video production and animation studio a permanent location fixed in our office, so that improves the level of service that we can provide to our clients. In the coming years, I am looking forward to new innovations in marketing, bringing new ways of presenting a company’s brand and message, and building awareness of the great companies we work with through different vehicles. That has been exciting and that continues to be fueled by the innovative team we have at Small Giants.

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HOUSING MARKET

IS A HOUSING MARKET CRASH COMING IN 2022? By KYLE BACKER and ELINOR TUTORA

ast year was anything but normal — especially in Arizona’s residential real estate market. Median sale prices rose in Phoenix from $325,000 in January 2021 to $404,300 by October, a 24.4% increase, according to real estate website Redfin. Houses listed for sale saw fierce bidding wars with buyers willing to contort themselves to meet sellers’ demands, which include such concessions as renting the home back to the sellers for a period while they found a new house to purchase.

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Efforts to boost the housing supply through new construction also faltered as the industry experienced acute shortages. Steven Hensley, senior manager at Zonda, a housing market analysis platform, notes that the strained supply chain created material constraints that caused major sticker shock for would-be buyers of new homes. “In terms of annual appreciation for homes, 30% is an outrageous number. Imagine the price of anything going up by 30% in one year,” Hensley says. As with any product, housing follows the law of supply and demand. When demand is high and supply is low, prices rise in response. The Valley continues to be an attractive option for businesses and individuals, with the U.S. Census Bureau reporting that the City of Phoenix added 163,000 residents over the last decade — all of whom need a place to live. Inventory problems Trevor Halpern, founder of Halpern Residential at North&Co, says that even after a slight boost in inventory from its lowest point, the number of available houses is still historically low for the region. “If we look at homes that are not under contract or pending, we have about 7,700 properties available today,” Halpern notes. “Two years ago, we had 14,000, and this time last year we had 8,700. Inventory continues to trend down.” Rich La Rue, a broker with HomeSmart, says that the Greater Phoenix area is still in a severely unbalanced market. He cites the AB | January - February 2022

HOUSING MARKET

Trevor Halpern

Cromford Report, which rates the industry based on current conditions. When supply and demand is perfectly balanced, the Cromford Report assigns a score of 100. “Last April, we were basically at 500 on the Cromford Report, which is definitely a seller’s market with far more buyers than there were homes available to purchase. In mid-November, it was around 345, so it has gone from a crazy, hair-on-fire market to just a frenzied one,” La Rue notes. Halpern adds that the end of the year is typically leaner, as folks focus on the holidays instead of moving. “Historically, 40% fewer homes hit the market in December than in January, which is typically our top month for new listings,” he says. With the new year, will the market continue an upward trend in home prices, or is it due for a correction — perhaps even a crash? Fire in the auditorium? One way to help ease the supply issue is to simply build more housing to meet the demand. But Ivy Zelman, CEO of Zelman & Associates, believes that the U.S. as a whole is overbuilding. “When we think about what drives the need for shelter, it’s based on household growth, homes that get demolished that need to be replaced and any required excess vacancies. Those three components drive our overall normalized demand figure,” she explains. “That equates to approximately 1.3 million units per annum between now and 2030. When 16

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Steven Hensley

Rich La Rue

you look at the pipeline of what’s coming, we will be overbuilding once those homes get completed by north of 20% for singlefamily homes and 10% for multifamily.” Zelman adds that market conditions are more complicated than having a glut of everyday buyers. Record low interest rates have fueled strong primary demand, along with a desire for more space during the pandemic. But she argues that low rates have also incentivized investors, which includes second-home purchasers, private investors seeking diversification, fix-andflip investors, institutional investors and iBuyers such as Offerpad. “Houses are getting gobbled up by more than just our schoolteachers, firemen and healthcare workers. It’s not the primary buyers alone,” Zelman says. “This enables velocity, which we define as homes that are available for sale at the end of the month and then sold subsequently in the next 30 days. Prior to the pandemic, the average velocity of the U.S. existing home sale market ran about 21% going back to 2000. Fast forward to January and February of 2021, and it was at 50%.” Velocity rates have since fallen to 43%, which is still more than double the average of the past two decades. Zelman explains that velocity is so high because homes are bought up as soon as they are listed, which is driven by primary buyers competing with cash buyers. The concern is what investors decide to do if the market starts to dip. “The level of units under construction is the highest that it’s been in decades.

Ivy Zelman

The question is, where are all these bodies going to come from, unless the investors are still going to be willing to keep buying and keep buying on top of the primary buyers,” she says. Harbinger of things to come? People and companies that purchase homes as investment vehicles rather than shelter are more likely to be “non-sticky buyers,” meaning they’re more likely to quickly sell as market conditions change, plunging the market down further. Primary buyers are more likely to be “sticky” and not sell if home values start to drop. Zelman points to Zillow, which recently exited the iBuyer business after overpaying for houses and selling them at a loss, as a harbinger of what could come. “The iBuyer business model is to sell. They do not hold an asset. If the market moderates and they are not able to sell that house at whatever incremental cost they incurred to refurbish it, they’re going to blow it out,” she argues. “What does that do to the zip code where you have a lot of homes that are now for sale? If you live next to a home sold to an iBuyer, it may hurt your valuation because they must sell. That starts to ripple through to the market, combined with every other type of investor that’s not sticky.” Zelman continues, “There’s no fire yet in the auditorium, but we don’t want the people who follow us to be there when the flames start. We’re trying to be cautionary, so people are thoughtful about what’s

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HOUSING MARKET

“In terms of annual appreciation for homes, 30% is an outrageous number. Imagine the price of anything going up by 30% in one year.” — Steven Hensley

driving that velocity and surge in home prices.” The specter of the Great Recession overshadows much of the conversation around the future of the housing market. With prices rising as they did during 2021, Halpern has heard worries that a bubble is about to pop. “If you look at what is going on in our marketplace, the fundamentals are very different than back in 2008 and 2009. Back then, there was false demand in the market based on mortgage-backed securities. With the financial regulations that came in after that, that type of activity no longer exists,” he says, referring to the Dodd–Frank Wall Street Reform and Consumer Protection Act. The pandemic also had a severe effect on people’s ability to pay their mortgages, which has caused undue anxiety in the market, according to La Rue. “People have equity in their homes and values have gone up. Most of the larger lenders are doing loan modifications so owners can stay in their properties,” he explains. “Even if lenders are saying, ‘No, you have to pay it off now,’ the homeowner has the equity to sell and pay it off. That’s why it’s not going to be 2008 all over again. You will have some instances where people are upside down, but that’s going to be the exception, not the norm.” Moreover, Halpern isn’t as concerned with the iBuyers putting a drag on the market. He says that this fear isn’t a new one. 18

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“There’s the idea of ‘shadow inventory,’ where institutional investors and hedge funds are gobbling up homes,” Halpern explains. “What happens if they dump all of this inventory? If you look right now, we have about 26 days’ worth of inventory. Let’s say Zillow put another 7,500 homes on the market, bringing us to about 14,000 total. That’s where it was two years ago, and the market was still pretty darn robust.” The year ahead La Rue agrees that Zillow pulling out isn’t a portent of an impending cataclysm. “I’m not just shrugging my shoulders and saying the market is going to be unchanged,” La Rue argues. “But we’re not going to see a major crash. It’s going to be more of a parachute down — a settling of prices. Investors are slowing down on their purchases, which lets the regular homebuyer back into the market.” Some buyers decided to quit looking for a home due to frustration caused by intense competition. But rather than foreclosing on the idea of moving, these would-be buyers are waiting for the right time to continue their search, all the while building their down payment fund. If home prices start to decline, there is a reserve of demand that would reenter the market and act as a buffer to sliding home values. Still, Halpern points to mortgage rates as potentially altering the current dynamics.

“The general rule of thumb is that for every 1% that interest rates go up, a buyer loses 10% of their buying power. If interest rates rise precipitously, we’re going to see a big impact on the demand side of the market,” he contends. “Interest rates are still historically low, so it will take a significant jump to have a discernible impact.” Even then, Halpern mentions that consistent job growth and migration into the state, along with low interest rates and high desirability of living in Phoenix will keep demand strong. Conversely, Zellman believes Phoenix’s attractiveness might be weakening its longterm position. She notes that the amount of issued homebuilding permits was fewer than 20,000 before the pandemic, and it’s now at approximately 40,000, which her firm believes is more than enough to accommodate increased job opportunities and could lead to a surplus of homes. “Phoenix attracts so much capital, and you have lots of investors trying to take advantage of the strength of that job market,” she explains. “There’s a fear of missing out, but there’s only so much alcohol at the party.” Zellman, who called the top of the market before the 2008 crash, is used to going against the grain. “I recognize that we’re being the sober guy,” she says, “but we’re trying to give people time to think about the risks, because they can change pretty quickly since so much of this incremental demand is coming from nonprimary buyers.”

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HEALTHCARE

WHOLEPERSON HEALTH

Arizona’s leading healthcare providers made strides in integrated services By ALISON BAILIN BATZ

ntegrated care, the systematic coordination of different lines of healthcare to treat the whole person, is proving to be an ultra-effective and proactive approach to caring for people with multiple medical and behavioral needs. Here is a look at how several Arizona healthcare organizations are setting the standard for integrative care in the country: Delta Dental of Arizona In August, Delta Dental of Arizona, through its Foundation, announced a $330,000 grant to fund a newly launched Hospital Oral Care and Periodontal Disease Education (HOPE) program at Banner – University Medical Center Phoenix. HOPE addresses the oral health of patients on campus. It establishes a minimum of twice-daily oral health protocols for senior patients and those at high risk for periodontal disease who may be unable to connect to dental health resources in their community. “The grant also supports an oral health

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navigator on campus and establishes an oral health standard of care in geriatric medicine in Arizona,” says Barb Kozuh, director of community benefit at Delta Dental of Arizona. According to Kozuh, this is just the latest step in a long-term plan Delta Dental has for helping medical-dental integration in Arizona. “In 2020, we also partnered with Neighborhood Outreach Access to Health, or NOAH, and HonorHealth Foundation to fund emergency dental treatment at NOAH for uninsured patients who visit HonorHealth emergency departments with dental issues,” says Kozuh. The new Delta Dental of Arizona Dental Connect program is made possible by a $525,000 donation by Delta Dental. Through Dental Connect, when an uninsured patient checks into an HonorHealth emergency room and presents with a dental emergency, facial pain or other related oral health issue, he or she will be referred to the appropriate NOAH dental staff member for care.

“We have two grant programs as well – community grants and IMPACT grants – through which we support medical-dental integration,” says Kozuh. Notable grants in 2021 included funds to support El Rio Community Health Center’s Pediatric Dental Integration Program, North Country Healthcare’s Integrated Dental Care, United Community Center’s Dental Program for Kids, Verde Valley Medical Center’s Healthy Families Oral Health Education and Phoenix Children’s Hospital’s Oral Health Educator program. Mercy Care In 2014, Mercy Care, which provides access to health care services for Medicaid-eligible adults, families, children, seniors and individuals with developmental and cognitive disabilities, became Arizona’s first managed care organization to provide integrated physical health and behavioral health treatment to individuals with a serious mental illness, or SMI.

The importance of an integrated approach was clear. Research shows that individuals with an SMI designation are at an increased risk of having chronic medical conditions, and, as a result, die an average of 25 years earlier than the general population. The shortened lifespan is largely due to treatable medical conditions. “We understand that integrating physical and behavioral health care is vital to the overall health and wellness of our members,” said Blythe FitzHarris, chief clinical officer at Mercy Care. “But we have to go beyond that at improve the social factors that play an even greater role in a member’s wellbeing and ensuring our members can reach their full potential.” Mercy Care worked with behavioral health and physical health care provider partners to expand on that initial integration – going beyond the traditional medical and mental health treatment paths. Integrated care meant providing members access to services that address their social determinants of health: those factors that play a vital role in a person’s

UNITED FRONT: A grant from Delta Dental of Arizona helps fund the Phoenix Children’s Hospital’s Oral Health Educator program. (Provided photo)

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HEALTHCARE

Blythe FitzHarris

overall wellbeing. These include housing, food security, reliable transportation and access to care. Mercy Care has also collaborated with community partners, including local police and non-profit organizations, to improve social factors for its members. “For example, Mercy Care colleagues offer mental health education and training for first responders who often interact with people experiencing behavioral health issues,” says FitzHarris. “Mercy Care also worked with school officials and community organizations serving youth to train staff to deliver mental health and suicide prevention awareness programs.” The health plan also provides grants to agencies that boost access to nutritious food, safe housing and health care in the community. Jewish Family & Children’s Service According to the World Health Organization, there is a significant gap between life expectancy in patients with a mental illness and the general population. People who suffer from mental health issues die earlier than the average person. “Sadly, individuals with a mental illness may succumb to untreated and often preventable illnesses like obesity, 22

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Dr. Lorrie Henderson

Barb Kozuh

high blood pressure and diabetes, which are often accompanied by poor habits such as lack of exercise and poor diet. The only way to tackle the issue is to focus on an individual’s overall health,” says Dr. Lorrie Henderson, president and CEO of Jewish Family & Children’s Services (JFCS). JFCS has been providing much needed services to the Valley community for more than 86 years. Recognizing the need to provide integrated healthcare to underserved communities, JFCS now has four integrated healthcare centers across the Valley, offering behavioral health and primary medical care services in one place, providing the most effective approach to caring for people with multiple healthcare needs. By integrating mental health, substance abuse, and primary care services, JFCS produces the best outcomes and offers the most effective approach to caring for people with multiple healthcare needs. For individuals that are a part of the Arizona Health Care Cost Containment System (AHCCCS), integrated care means that the disabled, young, elderly, poor or pregnant have the same access to quality care as individuals on the most comprehensive health care plans.

Steven Sheets

Southwest Behavioral & Health Services Southwest Behavioral & Health Services (SB&H) has been providing integrated behavioral and mental health services to communities throughout Arizona for more than 50 years. SB&H fosters a whole healthcare model by seeking out opportunities and innovative approaches to treatments that focus on integrated care at its core. “Our mission is to deliver compassionate care to enhance lives and improve communities,” says president and CEO Steven Sheets. “We believe that our core values around Compassion, Integrity, Quality, Empowerment, Innovation, and Trust help us achieve this mission.” Special programs included in SB&H’s vast array of service offerings include Southwest Family Medicine, Southwest Autism Center of Excellence, and the Southwest Training Institute. Additional SB&H services include: • Outpatient mental health treatment and psychiatric services including medication monitoring; • Assistance for persons with addictions; • Intensive inpatient care for persons in crisis; • Residential housing, in-home and supported housing services; • Prevention services, community outreach and school-based counseling.

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WHO’S WHO IN 2022 By MICHAEL GOSSIE

ven though the world the we once knew has been turned upside down by the pandemic, Arizona’s business community is hitting new heights. “Currently, many firms are reporting record profits and the need to retain and attract strong talent is at a pinnacle,” says Heidi Bayer, principal and legal recruiter for HGB Professional Recruiting Solutions. “The pandemic forced the legal profession to become more agile, learning how to facilitate working remotely. Despite most firms bustling with people again, many are downsizing their physical footprint and implementing office sharing.” Never before has the businesses community needed great leaders like Bayer and the other men, women and businesses you should keep your eyes on in the coming year. Over the next several pages, you will meet those who made Az Business magazine’s lists of Who’s Who in 2022.

MALE LEADERS TO WATCH IN 2022 JOHN BRADLEY, president, Brookfield Residential Arizona RICK CASSIDY, CEO, Taiwan Semiconductor Manufacturing Company (TSMC) Arizona HENRY DARWIN, shareholder, Gallagher & Kennedy HANS DRIESSNACK, CEO, Abrazo West Campus TOMAS GORNY, CEO, Nextiva JEFFREY B. GULDNER, CEO, APS DAVID J. JACOFSKY, MD, founder and CEO, HOPCo and The CORE Institute MICHAEL JONES, president and CEO, Delta Dental of Arizona SCOTT HARRIS, site director, Peloton Interactive BRETT HELGESON, president and CEO, Adopt Technologies JOHN HOGEBOOM, president and CEO, Community Bridges THOMAS J. INSERRA, chairman and CEO, Integro Bancorp. CHRISTOPHER KEELER, Gilbert site leader, Northrop Grumman KYLE KENNEDY, Arizona president, Bell Bank CHRIS KOCH, CEO of Carlisle Companies LEE D. LAMBERT, chancellor, Pima Community College HUGH LYTLE, CEO, Equality Health JAMES MURPHY, CEO, Willmeng STEVE PURVES, CEO, Valleywise Health HUMPHREY SHIN, market president, FirstBank

COMPANIES TO WATCH IN 2022

Aligned || Axon || Brander Group || Caesars Entertainment || CP Technologies Emerge || Engel & Volkers || Get Your Nest || GT Medical Technologies || Homie Arizona Jennings Haug Cunningham || Kayo Energy || Land Advisors Organization || Lucid Motors Paradigm Laboratories || Phoenix Raceway || Pacific Premier Bank || Pioneer Title Agency PNC Bank || Qwick || Real Time Companies || Taiwan Semiconductor Manufacturing Company

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WHO’S WHO 2022 Bayer has more than 20 years of experience in business development, client relations, and hiring. HGB specializes in attorney recruitment, both in the public and private sectors, and recently celebrated 10 years in business. PERSONAL STRENGTHS: “I believe in being authentic, at all times, so my work, much like the rest of my life, is driven by integrity, humility, and genuinely caring about making a difference. I know the work I do changes lives and can impact the trajectory of businesses, so I concentrate more on the quality of my service and providing the most personalized experience than achieving a quantifiable goal.” LEGAL NEEDS: “For several years, there has been a notable void in Arizona’s legal market. I am speaking of the need for transactional attorneys – corporate, real estate, and now, estate planning attorneys. With the legal industry booming, this need has only intensified; however, litigators are also feeling the boom, so in the foreseeable future, the need is everywhere.” COMPANY OUTLOOK: “HGB just celebrated 10 years in business, and while we have been humbled to experience tremendous success, we will remain a boutique operation, so the authenticity of what we provide isn’t compromised. While our model will remain the same, with deepening relationships and market shifts, we do anticipate participation in some exciting moves, but true to recruiting, the details remain confidential.” INDUSTRY OUTLOOK: “The pandemic didn’t take Arizona down, so I anticipate the intense pace of the legal market continuing into 2022. Bigger picture, however, the legal community is shifting and in the coming years, numerous firms will either dismantle, be absorbed, or merge. Also, as Arizona continues to grow at a rapid pace, investors and businesses will look to our state as a launching pad and more companies, and subsequently, in-house opportunities, will likely appear.”

HEIDI BAYER

Owner and legal recruiter HGB Professional Recruiting Solutions

Information: hbayer@HGBrecruiting.com

OTHER WOMEN TO WATCH IN 2022 WENDY ARMENDARIZ, NOAH

MICHELLE OLSON, Lambert

GAIL BAER, Jewish Family & Children’s Service

CRYSTAL LEHMAN, BrightFi

LORRY BOTTRIL, Mercy Care

STEPHANIE MADERAZZO HUGHES, Canyon State Electric

TONI MORALES BROBERG, AT&T

AMILYN PIERCE, Arizona Diamondbacks

FRANCES DUCAR, Healthcare Solutions Centers

KATIE RIESENBACH, USAA

CHRISTINE GANNON, Brightworks Consulting

JULIE ROBINSON, Jani-King Southwest

SUSAN M. GRAY, Tucson Electric Power

STEPHANIE SPARK, Fry’s Food Stores

SARAH HANCOTTE, TruWest Credit Union

AMY WALTERS, Cancer Treatment Centers of America

YVETTE JACKSON, Devereux Advanced Behavioral Health Arizona

JAMIE WONG, RE/MAX Fine Properties

HEATHER KANE, UnitedHealthcare

KATHLEEN WINSTON, College of Nursing, University of Phoenix

PAM KEHALY, Blue Cross Blue Shield of Arizona

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WHO’S WHO 2022 Born and raised in Phoenix, Bull graduated from Xavier College Preparatory, Northern Arizona University, and earned her M.Ed. in elementary education from ASU in 2012. After spending some time in the classroom, she attended ASU’s Sandra Day O’Connor College of Law and received her J.D. in 2017. THE SWITCH TO LAW: “Teaching will always have a special place in my heart and I will always cherish the time I spent in the classroom, but I was ready for a new challenge. Law felt like a natural shift after growing up with my dad, a local zoning attorney.” BENEFITS OF TEACHING FIRST: “Teaching gave me many tools that I often use in legal practice. One of the best tools I have is the ability to convey an idea. As a teacher, it is important to break down information and quickly determine whether your students understand the lesson. The same skills come into play when addressing the court or local governments or clients. Other skills learned in the classroom include organization, time management, and understanding. Good lawyers manage their cases effectively and understand the needs of their clients and how to best address those needs.” SATISFACTION OF LAW: “It is always amazing to see the way members of the community and our zoning clients can work together to create incredible developments that will benefit the community for years to come.”

ALICIA M. BULL

OUTLOOK FOR 2022: “I think the commercial real estate area is going to be great to watch in 2022. There are some amazing developments in the works and it will be exciting to see the growth and opportunities that come as a result.”

Associate || Burch & Cracchiolo

CONTACT: bcattorneys.com

OTHER YOUNG BUSINESS LEADERS TO WATCH LIZ AGBOOLA, CEO, Moses Behavioral Care

KENNETH G. POOLE JR., MD, medical director of patient experience,

ASHLEY BUNCH, public affairs manager, APS

Mayo Clinic

JUSTIN M. BRANDT, attorney, Bianchi & Brandt

DANIELLE PUENTE, CFO, DP Electric

SIMON CHARTER, community development manager, FreeportMcMoRan

CHRIS RODRIGUEZ, president and CEO, Ability360

LAUREN FITZPATRICK SHANKS, founder and CEO, KeepWOL

CHRIS RONZIO, founder and CEO, Trainual

LORA HOBAICA, assistant corporate secretary, SRP

EIVAN SHAHARA, co-founder and CEO, Mint Cannabis

MICHAEL HWANG, senior sustainability program manager, Intel

MARCOS TAPIA, partner, Tiffany & Bosco

SHON MACK, corporate strategist, SRP

STANLEY WONG, energy engineer, ETC Group

ALANA MILLSTEIN, co-founder and owner, Henri

WHITNEY YATES-WOODS, dealer principal, Yates Buick GM

GEAR MISNER, president, Hye Tech Networks

JACKIE YODER, COO, Wilde Wealth Management Group

T.J. MITCHELL, Jennings Haug Cunningham

YIYUN ZHANG, director of materials engineering, Footprint

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WHO’S WHO 2022

Gable leads TBConsulting, which provides innovative solutions for businesses’ evolving technology needs using a pragmatic, consultative approach aimed at identifying and delivering measurable outcomes that support organizations while containing technology costs. ATTRACTION TO INDUSTRY: “It’s really interesting. I got a degree in finance and real estate from the University of Arizona. I was planning on going into commercial real estate, but the timing was awful. I went to work for Arthur Anderson in their management consulting division, and literally got redirected into technology. It was amazing transformation because I never looked back. I got hooked onto technology and got a chance to work on some incredible projects. One of my favorite projects I got to work at Anderson Consulting was building a lottery system. So, I got a chance to work at a dozen lotteries around the United States and internationally, working on technology projects, and got specialized in lottery security, of all things.” PROFESSIONAL TRANSITION: “The work I did at Arthur Anderson Consulting — now Accenture — drove me to really appreciate what TBConsulting did. When I got involved with TBConsulting in 2008, I appreciated our core values of being passionate about what we do, being passionate about IT, and having the partnership mentality of always doing what is right for everybody in our ecosystem — employees, vendors, or clients. Those core values transcend everything. We always do what’s right.” WORK AT TBC: “We work with enterprise-level customers and we provide back office capabilities and functionality. So, primarily, those are the systems and the technology and telephony systems that the average user doesn’t see. The ERP system, the CRM, all the things that businesses rely on every day — those systems are run by us.”

DIETER GABLE CEO TBConsulting

STRENGTH OF COMPANY: “Innovation. We have to stay ahead of where everybody else is. We have to bring ideas to our clients and we have to do a lot of research and development for our clients. Our clients can save a lot of frustration, time, money, and energy by relying on us to give them proven solutions, because we’ll take their wishful thinking, the vaporware, and the things that vendors put out there, and we’ll test it and see what’s real and what is maybe a bit of a marketing collateral stretch that has been put out there.” Information: tbconsulting.com LEARN MORE: Watch the full interview with Dieter Gable of TBConsulting at azbigmedia.com

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WHO’S WHO 2022

Krause founded Krause Architecture + Interiors in 1996. The firm’s design philosophy centers on the creation of design projects inspired by each client’s unique culture and history, with an approach that combines technology with the natural environment and a strong integration of architecture, interiors, art and landscape. Krause is consistently rated as one of the top design firms and has won numerous design awards. ATTRACTION TO INDUSTRY: “I just love the process, I love the people and I just love the whole deal. It’s really fun and it’s challenging when you’re meeting a client for the first time, to really understand who they are and what they want to do. And then, from there, working with your consultants and your in-house team to develop a really kick-ass concept. That’s what we do. You have to have a concept before you can have a design. So, it has to be a mission, a vision statement, and where we’re headed with it. From there, we start the design. I’ve always loved it.” IMPACT OF PANDEMIC ON BUSINESS: “It’s been huge. We were really fortunate in that when the pandemic hit, we had a really great group of people. We all trusted each other and we all believed in each other. So we pivoted very quickly. And working from home or working remotely was not a problem. We lost zero productivity.” IMPACT OF PANDEMIC ON DESIGN: “The pandemic and the environmental issues we’ve been experiencing with climate change are on our minds constantly. We’re always looking for ways to make sure our clients are safe. We’re also stewards of the environment and we want to make sure that we protect the environment at the same time. We’re always looking for better ways to do things.”

BRAD KRAUSE Founder and president Krause Architecture + Interiors

INDUSTRY OUTLOOK: “We are really fortunate to live in Phoenix. I’ve lived here 35 years. The market has never really been slow. Yes, we’ve had some hiccups, but it’s always been crazy. I don’t see it slowing down. We’re going to have some hiccups along the way, but I think, moving forward, Phoenix will continue to be strong. Just look at all the people that are moving here and look at all the businesses that are moving here. The projections are through the roof, through 2026 is what I understand. That’s crazy.” INFORMATION: krauseaz.com LEARN MORE: Watch the full interview with Brad Krause of Krause Architecture + Interiors

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WHO’S WHO 2022

Kvesic joined Radix following a decorated legal career in the public and private sectors. He began his career practicing complex business litigation for nearly a decade at a large law firm in Phoenix, then became a prosecutor at the Arizona Attorney General’s Office. Kvesic was then appointed chief counsel and legal division director of the Arizona Corporation Commission, where he advised five elected commissioners on statewide public utility matters and led some of the most influential policies and judicial outcomes in the history of the commission. BACKGROUND: “I have had a very interesting career path. I started in litigation. I was then a prosecutor, so I did some criminal work, and then public service work at the commission, so I got that utilities, regulatory, and government affairs experience. I then went into a private general counsel job, so I’ve seen a lot of different things and I can help clients with a lot of different problems. They like having the ability to call me with whatever they need and I’m there to solve their problems.” FOCUS OF PRACTICE: “I serve as outside general counsel to a number of different clients, private companies, public agencies, individuals, and high-net-worth folks. I am their one-stop-shop lawyer that handles everything for them.” ATTRACTION TO RADIX: “The opportunity to be the managing partner of Radix was a one-of-a-kind chance to be part of the first multi-lawyer, traditional law firm in the country that has non-lawyer owners. It was such a unique opportunity to come into an established firm with a really unique platform, bring in some capital partners, and bring in a revolutionary idea on how law firms should be changed and improved. It was hard to pass up.”

ANDY KVESIC Managing partner Radix Law

LAW FIRM OUTLOOK: “We’re about a 10-person law firm right now. I think I’d like to double in size within the next two to three years. I came from a big firm. I think there are pros and cons to being in those types of places. But I think culture is extremely important at a law firm. That’s what keeps people there. That’s what keeps people productive. And I think that 20-, 25-lawyer size is the sweet spot where everyone feels like they’re part of the family.” INFORMATION: radixlaw.com LEARN MORE: Watch the full interview with Andy Kvesic of Radix Law at azbigmedia.com

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MARKETING

A ROADMAP FOR GROWING YOUR BUSINESS WITH INSTAGRAM their account. This will help increase your followers and drive new sales.

Susan Anable

Marketing

mplementing a solid Instagram strategy can help your business reach specific audiences and grow its customer base. With over 25 million businesses already on Instagram, it’s important for your company to get ahead of the competition. 1. Build an aesthetic. Use your brand’s colors to create a cohesive color scheme throughout your page so your followers can recognize your posts right away. For example, if any of your posts have graphics or text, be sure to match your brand colors and design style. 2. Stay consistent. Posting daily on Instagram will help increase your following and get your posts seen. Find users that fit within your target market and follow them, as well as the people who follow

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3. Be authentic. Customers greatly appreciate transparency from the companies which they do business. Bring your audience behind the scenes of product development or into the office so they can get a better feel for your brand and how you operate. This can also provide an opportunity for product education and tips. 4. Don’t be too salesy. Along the line of authenticity, it’s important to keep the sales jargon to a minimum on Instagram. Users will get annoyed and unfollow your page if every single post is a promo. Break up your page with regular content, such as employee spotlights and company initiatives. Short and concise posts keep followers’ interest. 5. Use hashtags. Include relevant hashtags in your Instagram caption or in the comment section to reach a bigger audience. Keep them short and searchable, such as #startup or #MondayMotivation. 6. Include links. Be sure to include a link to your company’s website in the Instagram bio, or any other relevant links. 7. Run sponsored posts. Reach people who aren’t yet following your account by

running targeted ads to reach specific demographics such as age, location and interests. 8. Encourage engagement. Ask followers a question in your Instagram captions to encourage users to comment on your posts. Be sure to “like” and reply to their comments to keep the conversation going and build relationships with potential customers. 9. Work with influencers. A rapidly growing marketing opportunity is the influencer-brand relationship. Many big brands are working with Instagram influencers who have a high follower count and similar values to create user-generated advertisements. 10. Watch your analytics. Keep an eye on which posts do well, and those that don’t, and continue tailoring your content based on what resonates best with your target audience. Susan Anable is Cox Communications vice president of public affairs, Southwest Region. She Cox utilizes Instagram to tell stories, share product updates and create connections with its customers. Anable was also one of Az Business magazine’s Most Influential Women of 2020.

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TOURISM

DECADENT DINING Resort restaurants set the standard for fine desert dining in Arizona

By ALISON BAILIN BATZ

rizona’s hospitality industry is in the throes of its high season, when the worldat-large descends on the Grand Canyon State to enjoy our sunshine, spas, golf courses, restaurants and resorts. Lucky for them, many of the region’s top resorts happen to have some of our biggest culinary talents. Here are some of the best:

Michael Mina’s Bourbon Steak Egyptian-born Michael Mina is a magician with flavors. His team members at Michael Mina Group, which has more than 40 high-end concepts worldwide to date, are artists of atmosphere. And the team at his Scottsdale namesake, located in the Fairmont Scottsdale Princess? They are masters at making unforgettable evenings for every single person who dines with them. Given its name, it should go without saying that the steak offerings will rock your world. However, dig a little deeper into the menu when you have a chance and explore the other delicacies, including an ultra-chic take on a shellfish platter. Also, don’t miss that glass wine cellar. Learn more: scottsdaleprincess.com

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Chop, Block & Brew In 2018, Harrah’s Ak-Chin Casino opened Chop, Block & Brew in Maricopa. Rustic and relaxed yet an upscale adventure for one’s taste buds, three of the many highlights: the dry-aging of the meats, allowing them to rest in a carefully controlled state to develop a deeper layer of flavor; select steaks are sous vide, which produces a more consistent taste and size, and ensures a more even temperature based on guest preference; and any number of accompaniments ranging from lobster tail to maître de butter. The 3,454-square-foot restaurant also notably features Native American-inspired artwork and design elements that highlight the culture and traditions of the Ak-Chin Indian Community. Learn more: harrahsakchin.com Talavera The Forbes Four-Star Award-winning Talavera, which boasts floor-toceiling windows and a dramatic fire that lines the interior of the entire restaurant, is the jewel in the crown of the sophisticated Four Seasons Scottsdale Resort Troon North. The Spanish-influenced menus, featuring paella, jamón ibérico, and a laundry list of globally inspired tapas, are quickly becoming the stuff of legend. Insider tip: within Talavera there is also a small cocktail spot called Gin Bar that specializes in gin tonics, which are far more aromatic and botanically forward than traditional gin and tonics. It is the perfect way to kick off or end an unforgettable evening. Learn more: talavera.com Hearth ‘61 When Mountain Shadows Resort reopened its doors in 2017 after a complete re-imagining to every inch of the property, Hearth ’61 made its debut. A blend of American and Mediterranean flavors, Hearth ’61 prides itself on truly using the best ingredients, local and seasonal whenever possible. The menu changes at least monthly, featuring what is exquisite at the moment. McClendon’s Select, Two Wash Ranch, Duncan’s Trading Company, and Noble Bread are just a few of the restaurant’s local purveyors. Learn more: mountainshadows.com

Elements With celebrity chef Beau MacMillan at the helm for decades, Elements being listed here should come as no surprise. But there are actually two big reasons beyond the Food Network darling that Elements continues to be a must for any foodie. Last year, the resort brought on James Beard Award nominee Samantha Sanz as chef de cuisine at both Elements and Jade Bar. Her farm-fresh American cuisine with Asian and Latin accents amidst some of the most breathtaking views in the Southwest must be on your bucket list. In addition to her, Sanctuary also brought on Christiaan Röllich as bar chef. He has reignited the resort’s cocktail program, adding everything from harissa-infused syrups to truffle oil washes. Learn more: sanctuaryoncamelback.com LON’s LON’s at the Hermosa Inn offers many romantic settings for an intimate dinner experience: an outdoor dining patio featuring gorgeous flora and fauna, a trickling fountain and a massive fireplace; a ruggedly handsome indoor dining room illuminated by candlelight; and an underground wine cellar for private dining. The cellar dining is an especially magical experience. Limited to just 12 guests total, the cellar is inspired by tunnels that used to exist on property during the Prohibition era to allow imbibing guests to escape from the Sheriff if he made an unannounced visit. Though they were eventually ravaged by fire, in 1992, the then-owners took meticulous care to find the tunnels and rebuild them using steels and reclaimed brick. Today, the space celebrates Arizona’s storied history while helping you write a chapter of your own. Learn more: hermosainn.com

ZuZu Located at Hotel Valley Ho, the whimsical restaurant is homage to “ZuZu,” which is the nickname given to noted cook and real estate icon Rosalyn Bennett Lyon, whose son Scott was a key member of the company that developed the hotel. And you know if someone names a restaurant after a mom; then it must be amazing. Russell LaCanse, who leads the culinary team onsite, is quietly one of the best chefs in the Southwest. He isn’t scared of going bold with flavors, having fun with plating or challenging guests to try a little something new. Of course, the venue also boasts the Showstopper Shake, which is quickly becoming the stuff of legend. ZuZu’s pastry chef collaborates with LaCasce to come up with a brand-new flavor every month, creating a new spin on this classic 1950s dessert. Learn more: hotelvalleyho.com

ShadowRock Tap + Table As much a social hub as culinary hotspot, this indoor-outdoor dining adventure at Hilton Sedona at Bell Rock celebrates the red rock spirit of adventure through a wealth of amenities including the Porch, a large outdoor garden with fire pits, water features, lawn games and scenic seating. In addition to the restaurant’s inviting setting, guests and locals can enjoy a variety of creative seasonal activations and seasonal menu stunners that set the resort dining experience among the best in the Southwest. Insider tip: visit now through late March as the resort offers an igloo dining experience under the stars, inclusive of your own post-dinner fire pit for s’mores. Learn more: hiltonsedona.com

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DINING

MANGIA!

The Italian Daughter is as authentic and amazing as anything this side of Sicily By MICHAEL GOSSIE

hen restaurateur Melissa Maggiore Meyer was a guest on the AZ Big Podcast, one of the themes that ran throughout the conversation was “family” and the importance of food when it comes to family — especially Italian families. Some of the strongest memories that fill the minds and spirits of those who grew up in Italian families are those of family dinners — in particular, Sunday dinners … which sometimes stretched from lunchtime until bedtime. Maggiore Meyer, the daughter of the late, great Tomaso Maggiore, founder of Tomaso’s Italian Restaurant, brings those family dinner memories to life with The Italian Daughter Cucina + Cocktails in North Scottsdale. “The Italian Daughter is a restaurant concept that I believe my father would have been really excited to see,” Maggiore Meyer says. “I want people to experience the joys of our authentic Italian cuisine in an atmosphere full of music and energy.” The food at The Italian Daughter is as authentic and amazing as any you will find this side of Sicily. The made-from-

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scratch menu focuses on handcrafted pasta, stone fired pizzas, seafood, veal dishes, and new twists and tastes on Italian classics. The best thing about The Italian Daughter is that you could literally throw a dart at the menu and walk away with a belly filled with the best Italian meal you’ll ever have in Metro Phoenix. Some cannot-stop-thinking-about menu items: • The Sicilian Rice Balls ($14) stuffed with bolognese (just like Grandma Gossie used to make) are a great way to start your meal. But be careful. You’ll want to eat so many, you may end up with a food baby. Don’t do that because there is too much deliciousness ahead of you. • Maggiore Meyer says she brought back pizza during the pandemic because it was an easy meal for people to carry out of the restaurant. But The Italian Daughter’s stone-fired Margherita Pizza ($14) and Tre Carne Pizza ($16) will more than satisfy even the most discriminating pizza lover. Plus, there is a gluten-free dough option available. • That brings us to the handcrafted pastas. Where do we start? The Butternut

Squash Ravioli ($19), Papa’s Bolognese Mafalda ($19), Linguine Frutti di Mare ($28), and Spaghetti “Picchiu Pacchiu” ($18) are all masterpieces that would make Michelangelo proud. But each pasta dish is a culinary work of art. • For entrées, the Braised Veal Osso Buco ($40), Sicilian Mixed Grille ($42), Eggplant Torte + Gnocchi Pesto ($23), and Chicken Parmigiana ($25) are all so … well, let’s just say you’ll never fuhgettaboutit. Beyond the food, The Italian Daughter’s incredible desserts, piano lounge — with live music five nights a week — and iconic Italian craft cocktails will make you want to return time after time. But isn’t that what family dinner is all about? And with The Italian Daughter, every night makes it feel like you’re going back home. Mangiamo. The Italian Daughter Location: 23655 N. Scottsdale Rd., Suite 120, Scottsdale Hours: Monday-Thursday and Sunday 3 p.m.10 p.m.; Friday-Saturday, 3 p.m.-11 p.m. Happy Hour: Daily 3 p.m.-9:30 p.m. Information: theitaliandaughter.com

3603 East Indian School Road, Suite A, Phoenix S.E. Corner of 36th St. & Indian School in the Gaslight Square Brunch Sat & Sun 9am - 3pm (Brunch Drink Specials) Dinner Wed - Fri 4pm - 9pm • Closed Mon & Tues

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ARIZONA MINING

WHO’S THE BOSS? Arizona’s mining industry fuels the economy as it fulfills the future demand for copper and other minerals By ERIN THORBURN

f you ever watched “Undercover Boss,” then you know the show’s premise involved wealthy executives posing as entry-level employees. Moguls like Steven Cloobeck, founder and former chariman of Diamond Resorts, and Mitch Modell, president and CEO of Henry Modell & Company and of Modell’s Sporting Goods, disguised themselves, later revealing their true identities. In the process, they often financially assisted or gifted employees in need. Mining is very much like an undercover boss. At first glance, it looks kind of familiar, but it’s not recognized as something particularly powerful. But, after closer inspection, what you come to realize is mining is a true boss for Arizona’s economy. In fact, in Arizona, mining packed a $15.4 billion economic impact in 2020. Now, that’s a boss move. Copper helps drive demand and dollars In addition to being a key fiscal driver, Arizona mining is a job producer, highwage generator, and tax revenue creator. “According to the National Mining Association, the U.S. mining industry, directly and indirectly, employs more than 1.5 million individuals paying in excess of $95 billion in labor income,” says Norm James, director of natural resources for Fennemore Craig. In 2020, the mining industry generated close to 48,000 direct and indirect jobs in Arizona. And mining jobs are among some of the highest earnings in the state, with an average wage of $81,000 per year — compared with an average wage for all workers in the United States of $59,000 per year.

AB | January - February 2022

If you’re wondering what makes Arizona mining an economic impact gangbuster, there are several reasons. And one of the most prominent is copper. “The future demand for Arizona copper and other needed minerals will continue to escalate,” says David Kimball III, shareholder for Gallagher & Kennedy, “due not only to the dramatic increase in global demand for electric vehicles and other green energy technologies, but also for the needed infrastructure that enables the harnessing green power.” Earlier this year, GM announced that it aims to stop selling petrol-powered and diesel models by 2035, and Audi had a similar proclamation targeted for 2033. According to Kimball, Zimtu Capital Corporation recently reported, “electric vehicles will require on average of approximately 83 kilograms (183 pounds) per manufactured vehicle, an increase of 277%, or three times more copper than for traditional vehicles.”

AB | January - February 2022

ARIZONA MINING “We seem to be making mining more costly and difficult,” James says, “rather than supporting the industry and ensuring that our future supply of minerals will be secure.” And, the reason for uncertainty in securing the minerals needed — even crucial ones such as the 14 minerals deemed critical by the secretaries of defense and the interior — is somewhat of Norman D. James David Kimball III Brad Ross a Catch-22, according to James. “Mining in the United States is among the most forward to the next five years, 10 years? Yes. heavily regulated industries in the world,” EVs and their other green-technology Mineral demands are expected to grow counterparts, however, are only a small he says. “Too often, critics of mining point as much as 1,000% by 2050. And going sampling of copper use and demand. to mines that operated many decades back to EVs, much of this demand will Copper is also sought in the medical ago, when environmental standards and field for its antimicrobial characteristics. In come from automakers, which plan to enforcement were largely non-existent, to national defense, it’s critical to aircraft and spend $300 billion globally to produce new argue that mining should not be allowed.” EVs over the next decade. advanced weaponry. And commercially, Additionally, permitting delays pose a Additionally, points out Dr. Brad Ross, copper can be found in smartphones, risk to many U.S. mining projects. “Because interim director for the University of tablets, and other mobile devices. of the extensive nature of regulation, Arizona’s School of Mining and Mineral “Today the world uses 10 times as and as well as litigation by opponents of Resources, “The Infrastructure Investment mining, it takes about 10 years to obtain much copper per year than it did in 1950, and Jobs Act makes mining even more and that number is increasing with the the permits needed to operate a mine in critical to Arizona’s economy.” population and the demand for green the United States,” he says. In the next year, according to Ross, energy technologies,” Kimball says. Despite the challenges, however, construction will begin on a wide variety And if you’re wondering how Arizona Arizona mining will likely continue to measures as a copper producer compared of projects that range from roads and covet its deserving status as an economic with the rest of the world, the U.S. is the bridges to airports and railroads. Mining boss. fourth-largest copper-producing nation (in will be called upon to supply the basic After all, as Kimball so perfectly 2019) with Arizona (in 2020) accounting for materials of sand, gravel cement, and rock states, “We know if it can’t be grown, products to make these projects possible 74% of total national copper production. it must be mined. Contributions to the and bring billions of dollars into the state. Arizona economy from the Arizona Demand for minerals maintains an mining industry should increase over the upward trajectory Could challenges slow supply? next year, five years, and into the next While it’s clear mining has and currently While future demand is clear and steady decade as the demand in mined goods for is essential to supporting Arizona’s when it comes to the need for minerals, the electric vehicles and other green energy supply chain outlook is less so. economy, will it continue to be looking technologies escalates.”

USES OF COPPER MOBILE COMMUNICATIONS • Smart phones, tablets and other mobile devices contain copper circuitry. • The network towers used to transmit wireless signals also use copper. MEDICAL CARE • Antimicrobial Copper continuously kills bacteria on surfaces such as hospital bed rails. • Diagnostic imaging systems and certain surgical instruments contain copper components. 42

AB | January - February 2022

Copper has countless applications in business and in the lives of individuals. These are just a few examples of copper’s essential uses.

NATIONAL SECURITY • From aircraft to advanced weaponry, copper keeps our military strong. • Copper is considered to be a “strategic and critical mineral” in the DoD’s 2015 Report on Stockpile Requirements. TRANSPORTATION • The typical vehicle has approx. 50 pounds of copper. • Copper is used in brakes, vehicle electronics, emissions controls, and wiring systems.

RENEWABLE ENERGY • Copper is essential for solar photovoltaic systems. There are approx. 5.5 tons of copper per MW in photovoltaic systems. • Copper is heavily used in wind turbines; found in generator coil windings, highvoltage power cable conductors, transformer coils and grounding equipment. TECHNOLOGY • Copper is present in major advanced economy technologies ranging from integrated circuits to batteries to electromagnets.

AB | January - February 2022

ARIZONA MINING

CHANGING MISCONCEPTIONS

Mining leaders aim to correct prehistoric views of environmental practices as the future success of green economies depends on the industry By ERIN THORBURN

t’s safe to say that this may be the only piece of journalism to analogize mining’s environmental impact with Britney Spears. Yet, can we mostly agree that both have faced their fair share of public scrutiny? And, while some barbs may be deserving, others are simply unfair — even unsubstantiated? It’s likely true that before they knew better, both may have made mistakes along the way. But, have they learned from their mistakes? While perhaps the jury is still out in the case of Spears, research demonstrates that the mining industry certainly has learned its lessons. Not only has the mining industry made improvements in environmental protections, but progress has also led to valuable, lasting sustainability and green energy efforts.

AB | January - February 2022

Norman D. James

David Kimball III

Brad Ross

Robert Winton

Hit me baby one more time — with the truth about environmental regulations The truth: There was a time when mining wasn’t as safe and clean as it is today. But despite the progress that’s been made in mining environmental safety, advancements in public awareness have not been as progressive. Dated perceptions have — and remain — challenging to overcome. “Mining in the United States is among the most heavily regulated industries in the world,” says Norman D. James, director of natural resources for Fennemore Craig. “Too often, critics of mining point to mines that operated many decades ago, when environmental standards and enforcement were largely non-existent, to argue that mining should not be allowed.” And here’s another truth: In addition to being heavily regulated by a number of local, state, and federal laws protecting public health, welfare, and the environment, the modernization of mining has rendered many irresponsible, unsafe mining practices obsolete. “Modern mining in Arizona employs highly sophisticated mineral recovery and computer technologies that maximize mineral recovery while minimizing impacts to the environment,” explains David Kimball III, shareholder for Gallagher & Kennedy. And, as Kimball points out, mining operations aren’t relegated to environmental regulatory processes solely during the active phase, but also they are also regulated after mining operations cease — including mine reclamation requirements to ensure beneficial postmining land use. AB | January - February 2022

ARIZONA MINING

“The future demand for Arizona copper and other needed minerals will simply continue to escalate.” — David Kimball

Stronger (and smarter) mining processes Mining in the U.S. has come a long way since its commercial inception in the 19th century, as have environmental awareness and initiatives. Within the last couple of decades, focus of improvement in mine regulations has been accompanied by a greater need for environmentally-friendly mining processes and implementation of newly discovered and innovative, green mining technologies. “The top initiatives in Arizona mining,” says Robert Winton, senior vice president and general manager of Excelsior Mining Corp., “are focused around water usage and means of reducing the impact on Arizona’s aquifers.” According to Winton, Excelsior’s project at Gunnison is a prime example of this initiative being impacted in a mining operation. “Excelsior uses an In Situ Leaching (ISL) process, which is a closed-loop system that largely recycles water, thereby significantly reducing water consumption over conventional mining techniques and provides a road map for future projects in the state,” he says. Winton provides another example of ISL use in Taseko’s Florence project to reduce mining’s impact on the water supply. “The larger-scale projects that utilize more conventional mining techniques are looking to utilize improved tailings management,” Winton says, “such as dry-stacked tails, etc., for reducing their water consumption through the life of their projects.” Together, these two ISL projects offer a significant reduction in dust, noise, and 46

AB | January - February 2022

light as compared with conventional open-pit copper mining. Toxic views of mining mitigated through education One of the best ways to help alter archaic ideas about mining and environmental impact is bolstering education. “Only by breaking through traditional disciplinary silos and taking an untraditional approach to curriculum can we equip students and professionals alike with the broader, more sophisticated knowledge and skills required of the workforce of the future,” says Dr. Brad Ross, interim director for University of Arizona’s School of Mining and Mineral Resources. Those at the helm of UArizona’s School of Mining and Mineral Resources are doing their utmost to accomplish their mission and disrupt traditional education pathways by what Ross describes as implementing, “innovative curriculum that keeps pace with change and leverages the best subject matter experts, wherever they are.” Additionally, the mining school’s Innovation Hub is designed to cultivate opportunities to “attract, inspire, and connect the brightest minds and provide the framework necessary to stimulate collaborative problem-solving around the issues that matter most,” Ross says. Radar: What’s the future outlook for mining? At this point, Britney’s future may be more discernible than the mining industry’s. While Britney’s

conservatorship has been lifted, Arizona mining projects continue to face delays and impasses that make the state’s mining outlook less clear. “Mining in Arizona faces an uncertain future,” James says. “There is a tremendous push to restrict mining in the United States by withdrawing or banning mining activities on federal land and by imposing increasingly complex regulatory requirements that increase project costs and cause additional delay.” The Biden administration, for example, has rescinded the Final Environmental Impact Statement for the Resolution Copper Project, leaving that project in limbo. Mining is also banned or restricted on more than half of all federal public lands, according to James, making mineral resources on those lands off-limits to production. Yet, in an ironic twist, the green economies the world aspires to develop can only succeed through materials Arizona mining produces. “The future demand for Arizona copper and other needed minerals will simply continue to escalate,” Kimball says, “not only due to the dramatic increase in global demand for electric vehicles and other green energy technologies — wind, solar and energy storage — but as well as the needed infrastructure that enables harnessing green power.” With the said, “It is incumbent on the state and its citizens to support this future, as we will be able to produce these materials more sustainably and environmentally conscious as any other jurisdiction in the world,” Winton says.

AB | January - February 2022

ARIZONA MINING

SAFETY FIRST

New Arizona mine inspector places a high premium on safety and aims to take office to the next level

By ERIN THORBURN

eet Paul Marsh, Arizona’s recently appointed Arizona state mine inspector. “Paul Marsh has over 25 years of industry experience and will bring a wealth of knowledge to the position,” says Gov. Doug Ducey. “He is a proven leader with strong communication skills and a history of working with safety standards and regulations.” Marsh joins an impressive lineage of mine inspectors dating back to 1912, when the position was first established. Previously, Marsh served as the ready mix operations manager in the Phoenix fivision for CalPortland Company, and before that, director of safety for CalPortland Southwest Region. Beyond his career experience, Marsh’s deep knowledge and commitment to safety protocols and standards also no doubt stems from his time operating heavy equipment in the United States Marine Corps. Az Business sat down with Marsh to learn more about his experience, goals, and outlook as Arizona’s incoming mining inspector, and to get a glimpse of what’s ahead for the state’s mining industry.

Az Business: Tell us a little about your background and career. Paul Marsh: I started in 1994 at a small sand and gravel mining company as a laborer and equipment operator. I continually worked my way up through the ranks to management. I have been in mine safety since 2004, earned my Certified Mine Safety Professional (CMSP) credentials in 2015, and am a Blue Instructor Cardholder. I have successfully held positions in the past as director of safety and operations manager. AB: What are you looking forward to the most in your new role? PM: I look forward to bringing the Arizona State Mine Inspector’s Office to the next level. With my leadership, knowledge, and experience, we will continue to build upon the strong foundation that already exists. 48

AB | January - February 2022

AB: What would you say have been the most compelling transformations in mining that you have witnessed throughout your career? PM: I have seen a tremendous change in safety culture and overall safety in the mining industry. The days of “old school safety” are gone, and through required training, miners know they have a right to a safe workplace and that they can stop production when needed. AB: With many automakers pledging to convert to all-electric vehicles — which will increase the demand for copper and other metals — how do you feel Arizona’s economy will be impacted? PM: Arizona currently produces 68% of our nation’s copper, and I believe Arizona will see tremendous growth as we convert to all-electric vehicles. All-electric vehicles use more than three times the amount of copper used in current vehicles. A current gas-powered car uses approximately 50 pounds of copper versus an all-electric vehicle using over 180 pounds. One study suggests that there will be a six percent increase in global copper demand in the next 10 years due to electric vehicles alone. AB: How do you view the current state of mining in Arizona? PM: The current economic state of mining in Arizona is good, with Arizona ranked No. 2 for non-fuel mineral production in the United States in 2020. Furthermore, the entire mining industry in Arizona has a $20 billion total economic impact, and supports nearly 75,000 total jobs. AB: What initially enticed you to have a career within the mining industry? PM: I am a veteran who operated heavy equipment in the United States Marine Corps. Initially, I was just looking for a job that utilized my skills as an equipment operator, but quickly realized the opportunities available in the mining industry. It is amazing what you can accomplish with hard work and dedication.

DIGGING IN: “I am excited for the opportunity to serve all Arizonans as the state mine inspector,” says Paul Marsh. “I look forward to the opportunity to continue protecting both the public and the miners that call Arizona home.” (Photo by Mike Mertes, AZ Big Media) AB | January - February 2022

EXCELLENCE IN BANKING Here’s a look at the financial institutions and individuals who have set high standards for the industry as we embark on 2022 By MICHAEL GOSSIE

ometimes, the seeds of leadership and excellence are planted before you know it. “One could argue my motivation to be a leader was harvested at a young age, when my basketball coach asked me to be the leader of the team,” says Dave Ralston, Arizona market CEO for BOK Financial. “He then proceeded to set expectations of me, some of which I have maintained throughout my career.” The roots of leadership in youth and sports seems to be a common theme in the financial services industry.

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“I was raised by a teacher and a coach, so it seems natural to take a leadership position in any organization,” says Mike Thorell, president of Arizona Federal Credit Union. But for some, the motivation for leadership is the the satisfaction of seeing others rise to new levels of excellence. “I’m very passionate about the banking industry, specifically taking a very complex process and finding ways to help customers grow and succeed,” says Don Garner, CEO of Alliance Bank of Arizona. “As a leader, I learned the importance of taking my experience and conveying those insights in a way that inspires, encourages and motivates the accomplishments of my team.” That is an sentiment that Mike Brown understands completely. “The opportunity to teach someone a new skill every day motivated me to become a leader,” says the Arizona regional president for WaFd Bank Arizona. “Through education and mentorship, I can convey my knowledge and experience to a new generation of professionals and help them build a successful and impactful career.” Over the next several pages, you’ll meet the banking leaders and learn about the financial services institutions that have achieved levels of excellence that help drive Arizona’s business community. And you’ll learn a little about how they’ve achieved a level of excellence that separates them from their competitors. “I try to allow my personal values to guide me in where I go and what I do in life,” says Kyle Kennedy, president and Phoenix banking director for Bell Bank. “I hope people would say that I am a leader who aligns people’s values with the company’s values to achieve something better in this world. Ultimately, it’s about making the world a better place. What better motivator can there be?”

Mike Brown

Kyle Kennedy

Dave Ralston

Mike Thorell

AB | January - February 2022

BANKERS of the Year

|| Mike Brown

|| Kevin Cutter

|| Jeff Friesen

|| Kyle Kennedy

|| Seth Philbin

Arizona regional president WaFd Bank Arizona Brown leads WaFd Bank, which has 30 branches statewide, $1.6 billion in local deposits and is a winner of Money.com’s Best Bank in Arizona.

Arizona president Pacific Premier Bank Cutter has worked in the banking industry since 1992, specializing in credit administration, relationship management, commercial real estate, construction lending, and risk management.

Southwest region president Enterprise Bank & Trust In August, Enterprise named Friesen as president of the Southwestern Region. Friesen is responsible for Arizona, Albuquerque, and Enterprise’s growing presence in Las Vegas.

Arizona president Bell Bank During his career, Kennedy has specialized in the areas of commercial and industrial lending, treasury management, small business banking and private banking.

Lead business advisor Alerus As a lead business advisor for the East Valley, Philbin serves as the trusted point of contact for business clients and works closely with experts across Alerus.

|| Jennifer Anderson

|| Tina Figueroa

|| Ericka LeMaster

Business banking manager Wells Fargo Figueroa is regional small business banking manager - healthcare for Wells Fargo in Chandler. She has been with Wells Fargo for more than 36 years.

Senior managing director Alliance Bank of Arizona LeMaster sources, underwrites and structures commercial real estate loans, including acquisition, vertical construction, term and bridge financing within a portfolio that exceeds $1.3 billion.

|| Christine Nowaczyk

|| Cathleen Walker

Senior vice president MidFirst Bank Anderson has a successful track record in developing people, exceeding organizational objectives through building and managing successful teams, and leveraging key partnerships.

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Corporate banking Arizona executive BOK Financial In addition to her role at BOK, Nowaczyk is on the board of ACG Global, the premier mergers and acquisitions dealmaking association.

Regional president PNC Walker brings 30 years of financial services experience at PNC Bank to the market and leads a team that provides top-notch service, scale and capabilities with a community focus.

BANKS of the year Bell Bank Bell Bank made a huge splash in 2021 when it signed a 10-year naming rights partnership with the $280 million multipurpose sports and entertainment complex that opens in 2022 in southeast Mesa. The 320-acre complex will be called Bell Bank Park, designed to host youth and amateur sports, teams and individual training, family fun events, concerts, youth sports tournaments, and fitness opportunities. It will be the largest of its kind in North America.

JPMorgan Chase In March of 2021, JPMorgan Chase announced a $475,000 grant for the Arizona Hispanic Chamber of Commerce for its implementation of Ascend Phoenix, a program to help grow small businesses owned by Black, Latinx and other underserved entrepreneurs, boost their long-term success and create inclusive economic growth. Ascend Phoenix seeks to assist underserved small businesses by providing training and resources related to management skills, navigating market access through contracts and supply chain relationships, and developing networks with mentors and others.

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PNC In 2021, PNC became the fifth largest U.S. commercial banking organization with more than $560 billion in assets after its acquisition of BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA. “Our acquisition of BBVA USA accelerates our national expansion and positions us to increase shareholder value over time by bringing our industryleading technology and innovative products and services to new markets and clients,” says William S. Demchak, PNC’s chairman, president and CEO.

UMB Bank In November, UMB Bank announced the formal launch of its Family Wealth offering – a multi-family office of registered investment advisors focused on delivering entrepreneurial investment strategies, sophisticated tax planning and generational wealth guidance to families with significant wealth. “We were already providing many of these services within Private Wealth Management, and we decided it was time to truly formalize the offering, including hiring and developing a dedicated team of investment professionals,” says Nikki Newton, president of Private Wealth Management at UMB.

Wells Fargo Habitat for Humanity Central Arizona is one of more than 220 Habitat organizations awarded a grant from Wells Fargo as part of its nationwide initiative to help lowto-moderate income families construct and improve homes across the country. “Far too many people across the country are facing housing instability and one of our key priorities is to create housing affordability solutions where everyone can have a safe and affordable place to call home,” says Don Pearson, Wells Fargo lead region president.

CREDIT UNIONS of the Year Arizona OneAZ Arizona Central Credit Union Desert Landings OneAZ Credit Union was Credit Union Federal Financial Credit Union named No. 6 on the ACCU is a not-for-profit, Credit Union 2021 Healthiest 100 Credit Union Credit Union Landings full-service, financial Workplaces in America When Arizona Federal has been making a institution locally owned and operated by its members. With almost 58,000 members and more than $500 million in assets, ACCU has served members in Arizona since 1939. ACCU operates nine full-service branches throughout the Greater Phoenix area, Tucson, Flagstaff and Show Low and offers access to more than 5,600 branches nationwide through the CO-OP Shared Branching Network.

Credit Union acquired Pinnacle Bank in 2019, it was the first time an Arizona credit union acquired a community bank. Arizona Federal Credit Union is the only Arizona-based credit union that has been designated an SBA Preferred Lending Partner (PLP) by the U.S. Small Business Administration. As an SBA preferred lender, Arizona Federal has the authority to approve its SBA-guaranteed loans, which simplifies and expedites the SBA loan approval process for borrowers.

AB | January - February 2022

Many organizations shuttered doors and turned away customers in the wake of the pandemic. But this “Angel of the YearBusiness” lived up to its title. Desert Financial Credit Union invested more than $5 million in 2020 to help members ($2,227,200), the community ($1,229,413) and employees ($1,815,279) during this time of need. When the pandemic broke, leaders decided to doubledown on its people-first strategy and instead of scaling back, moved ahead with record giving back.

difference in the lives of its members and the communities it serves for more than 65 years. Landings Credit Union’s leadership has the experience and expertise of a big bank, but the sensibilities of a small business and understand that banking needs aren’t a one-size-fitsall type of thing. That is why they focus on each member’s story to help them to achieve their personal financial goals.

by Healthiest Employers for its investment in the health and wellbeing of its employees. This award honors the organizations that are demonstrating care for their people by investing in health and well-being solutions and initiatives. “Investing in the health and wellbeing of our associates is an important part of our mission here at OneAZ,” says president and CEO Kim Reedy.

CREDIT UNION

Leaders of the Year || Alan Althouse

|| Jeff Meshey

|| Kim Reedy

President and CEO TruWest Credit Union Althouse has been the president and CEO of TruWest Credit Union since 2016. His leadership philosophy: “You must be passionate about making a difference in the financial lives of consumers – that is ultimately what employers are looking for. This can mean excellence in customer service, developing a killer financial app or creating a superior service culture within a work group you lead.”

CEO Desert Financial Credit Union Meshey is president and CEO of Arizona’s largest credit union. His leadership philosophy: “I have always been comfortable providing leadership to teammates on athletic teams, classmates in school and colleagues in business. I strongly believe in servant leadership and know that I can make the biggest impact by inspiring and preparing others to achieve more and enabling them to truly make lives better.”

President and CEO OneAZ Credit Union With more than 35 years of financial industry experience, Reedy joined OneAZ as CFO in 2012, providing leadership to drive asset growth from $1.3 billion to $2.8 billion and membership growth nearing 150,000. His leadership philosophy: “Compassion for people and helping them to reach their goals. I have always believed it can be tremendously rewarding to assist others in helping them achieve what is important to them.”

AB | January - February 2022

|| Sandra Sagehorn-Elliott CEO Vantage West Credit Union Sagehorn-Elliott leads Vantage West, which has 20 branches statewide and $2.5 billion in assets. Her leadership philosophy: “I didn’t set out to be a leader, but discovered when I got my first opportunity to step into a leadership role that I loved it. Coaching and developing others and then watching them achieve great things is one of the most rewarding things a person can do.”

|| Robert J. Swick President and general manager Hughes Federal Credit Union Swick serves as both president and the treasurer of the volunteer board. With 33 years of executive leadership and 20 years serving as president and general manager, Swick has overseen Hughes’ growth from $239 million assets and 31,500 members to more than $1.2 billion in assets, 130,000 members, and the No. 1 Arizona spot on Forbes’ inaugural “Best-InState Banks and Credit Unions” list in 2018.

COMMUNITY IMPACT Bank of America Bank of America has directed more than $17 million to support Native American communities since the onset of the pandemic. Funding includes capital investments and philanthropic grants to nonprofits and institutions providing services to Indigenous communities as part of the bank’s effort to advance racial equality and economic opportunity through its $1.25 billion, fiveyear commitment.

Desert FirstBank Financial FirstBank, which has a focus on “banking Credit Union for good,” announced To help Desert Financial’s more than 350,000 members remain financially solvent and slow the spread of the virus, leaders at the credit union took swift measures during the pandemic, including reducing or eliminating member fees, instituting senior hours and following all CDC recommendations for branch safety. Immediate needs in the community were identified and a $400,000 donation was split between four local food banks.

AB | January - February 2022

that for every FirstBank Bloom Package that was opened by Aug. 31, 2021, the bank would plant five trees in partnership with global reforestation nonprofit One Tree Planted. The bank is hoping to plant up to 50,000 native trees throughout Arizona, Colorado and California in an effort to improve air quality, filter and conserve water, support wildlife and more.

National Bank of Arizona

OneAZ Credit Union

OneAZ’s leadership wants to be an organization that exists to improve the National Bank of lives of its members, Arizona is working to associates and address the needs of consumers who may find communities. Through its OneAZ Community themselves priced out Foundation, the credit of traditional banking products. NBAZ received union has given more than $600,000 to Bank On certification nonprofits across the for its no-overdraftstate. “This year we’ll fee bank account from probably put somewhere the Cities for Financial around $300,000 into Empowerment Fund. community giving The product, called through the foundation,” OnBudget Banking, says Kim Reedy, helps keep customers president and CEO of aligned with their OneAZ. “In five years, financial goals with a that number should be predictable monthly $1 million.” service fee of $5, mobile banking and no overdraft fees.

AB | January - February 2022

SMALL BUSINESS

COMMERCIAL REAL ESTATE

Arizona Federal Credit Union

Alliance Bank of Arizona

Bank of America

Enterprise Bank & Trust

National Bank of Arizona

JPMorgan Chase

Pacific Premier Bank

Tower Capital

Lenders of the Year Arizona Federal Credit Union is the No. 1 credit union SBA lender in Arizona and an SBA preferred lending partner. AFCU ranked No. 4 among SBA lenders in Ranking Arizona. Bank of America meets all SBA preferred lender program eligibility criteria, including proficiency in processing and servicing SBA-guaranteed loans. As an SBA preferred lender, National Bank of Arizona can help you find government-guaranteed SBA loan options that fit your business needs and let you seize opportunities. Pacific Premier Bank offers commercial business loans, lines of credit, SBA loans, commercial real estate loans, agribusiness loans, franchise lending, home equity lines of credit, and construction loans.

Southwestern Business Financing Corporation

SBFC has funded the purchase or construction of more than $1.5 billion of buildings for almost 1,000 Arizona businesses and is one of only three companies approved to make SBA 504 loans in Arizona. 64

AB | January - February 2022

Lenders of the Year

Alliance Bank of Arizona offers a wide range of commercial real estate loans for different property types, including office, industrial, retail, residential, hospitality and charter schools. Enterprise can provide lending solutions to finance business expansions and acquisitions, commercial real estate, new construction, major equipment purchases, and more. Investors, developers and owners of office, retails, industrial, and mixed-use properties rely on JPMorgan Chase for financing solutions and for its local real estate expertise. Established in 2015 and headquartered in Phoenix, Tower Capital provides customized structured financing to investors and helps real estate investors navigate the capital markets.

UMB Bank

For investment commercial real estate term loans up to $3 million, UMB has a specialized program to meet the unique needs of small to moderate sized investment property owners.

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AB | January - February 2022

The Top 100 Lawyers in Arizona for 2022

AB | January - February 2022

By MICHAEL GOSSIE

or many, the vision of leadership becomes clear very early in life. “In my teens, I heard a leadership mantra: ‘Lead, follow or get the hell out of the way,’” says Steven N. Berger, shareholder at Engelman Berger. “I chose to embrace leadership as the other two options didn’t sound too enticing. Leadership by example is another key concept.” Berger’s path to leadership led him to be be included in Az Business magazine’s Top 100 Lawyers in Arizona for 2022. The Top 100 Lawyers in Arizona were selected using an algorithm that factors in professional ratings and accolades, impact on Arizona’s legal profession, and impact on the communities in which the lawyers practice. There were more than 1,000 attorneys under consideration for the 2022 list. “After law school and then clerking for Justice William J. Brennan of the United States Supreme Court, whom I admired greatly, I knew I wanted to be a part of a firm that adhered to the highest standards of quality, professionalism and community involvement,” says William J. Maledon, partner and shareholder at Osborn Maledon. “I think that goal was achieved with Osborn Maledon.” Maledon isn’t the only attorney on this year’s list of the Top 100 Lawyers in Arizona who were helped on the leadership journey by mentors or colleagues. “I have benefited professionally from strong and savvy leaders, and as I grew and experienced more success in my field, I wanted to do more for my colleagues, our associates, and our clients,” says Nicole Maroulakos Goodwin, Phoenix managing shareholder at Greenberg Traurig. “Dedicating time to leading our office is my way of giving back to the firm that has been supportive of me.” Wendi Sorensen, a shareholder at Burch & Cracchiolo, agrees with that sentiment. “As our firm has grown and we have taken on younger attorneys, I remember how important good guidance was to me when I was new in this profession,” she says. “It’s important to me to repay some of that kindness by sharing skills and guiding the new generation of lawyers.” Here are the Top 100 Lawyers in Arizona for 2022, representing excellence in leadership and accomplishments for the state’s innovative and exceptional legal industry. AB | January - February 2022

Andrew Abraham

President and shareholder Burch & Cracchiolo Practice areas: Real estate law, real estate litigation, commercial litigation Background: Abraham is a Certified Specialist in Real Estate Law and his practice is primarily real estate law and litigation. In addition to serving as Burch & Cracchiolo’s president, Abraham was named the Best Lawyers in America’s 2020 “Lawyer of the Year” in Metro Phoenix in Real Estate Litigation. He has been recognized as one of 50 Top Attorneys in Arizona by Southwest Super Lawyers in 2011 and 2014-2021. Abraham is also a Martindale-Hubbell 5.0 preeminent attorney. More recently, he received the Az Business Angel of the Year award at the 2021 Az Business Angels Awards. Contact: aabraham@bcattorneys.com

Amy Abdo Director | Fennemore Craig Practice areas: Business litigation, healthcare, employment and labor, professional liability Thomas H. Allen Member | Allen Barnes & Jones Practice areas: Bankruptcy, bankruptcy trustee rights, business and consumer debtor bankruptcy, corporate reorganization, creditors’ rights in bankruptcy, mediation and arbitration, commercial litigation Hilary L. Barnes Member | Allen Barnes & Jones Practice areas: Corporate and consumer bankruptcy Kira N. Barrett Partner | Gordon Rees Scully Mansukhani Practice areas: Commercial litigation, construction, insurance, product and general liability, employment law 68

AB | January - February 2022

Donald R. Alvarez

Partner | Radix Law Practice areas: Civil litigation, business and commercial litigation, business divorces, contract disputes and business torts Background: Alvarez has been practicing law since 1976 and is an “AV” rated attorney with extensive litigation experience in many types of civil and commercial disputes. He also has served for over 40 years as an Arbitrator in most types of civil and commercial cases. He is admitted to practice in both Arizona and New York and is a member of the Maricopa County Bar Association, the Arizona Association for Justice, the Scottsdale Bar Association, and Arizona’s Finest Lawyers (Sustaining Member). Don has also served on the Board of Trustees of the Maricopa County Bar Foundation (chairman in 2005) and the city of Scottsdale’s Judicial Appointments Advisory Board. Contact: radixlaw.com

James J. Belanger Founder | J. Belanger Law Practice areas: Criminal and white collar criminal defens, lawyer ethics, discipline and malpractice, response to government investigation Timothy J. Berg Director | Fennemore Craig Practice areas: Civil appeals, state constitutional and public law, public records law and public utilities regulation Steven N. Berger Shareholder | Engelman Berger Practice areas: Bankruptcy and reorganization, creditor’s rights, loan workouts, business restructurings, business and real estate disputes, mediation Maureen Beyers Partner | Beyers Farrell Practice areas: Complex commercial litigation and arbitration

Laura A. Bianchi Partner | Bianchi & Brandt Practice areas: Cannabis law, business, compliance, and operations Steve Biddle Shareholder | Littler Practice areas: Discrimination and harassment, workplace safety and health, labor-management relations, wage and hour matters William D. Bishop Founder | Bishop Law Office Practice areas: Family law Marc D. Blonstein Member | Berens Blonstein Practice areas: Real estate transactions, real estate financing, master planned communities, subdivision matters, and leasing

AB | January - February 2022

Dwayne Burns

Attorney | Davis Miles McGuire Gardner Practice areas: Personal injury, product liability, wrongful death Background: Burns is recognized as a highly effective advocate in personal injury law. He represents clients in bringing high profile catastrophic injury, wrongful death, products liability, and medical malpractice cases. An attorney with Davis Miles McGuire Gardner, he was recently named to the National Top 100 Black Lawyers; to The National Top 40 under 40 Black Lawyers; and as a Rising Star Super Lawyer, by Thompson Reuters. Burns is a member of the Maricopa County Bar Association Board of Directors and Diversity & Inclusion Committees. In addition, he serves his community by coaching the Arizona State University Spirit Squad. Contact: dburns@davismiles.com

Brian R. Booker Partner | Gordon & Rees Practice areas:Commercial litigation, product and general liability, professional liability defense, securities litigation Annette T. Burns Founder | Annette T. Burns Law Offices Practice areas: Family law Sheila Carmody Partner | Snell & Wilmer Practice areas: Complex litigation with an emphasis on defense of insurance companies and manufacturers in class action cases, multi-jurisdictional litigation and general commercial litigation J. Craig Cartwright Shareholder | Buchalter Anne Chapman | Attorney Mitchell | Stein | Carey | Chapman Practice areas: Defends clients in criminal cases and assisted companies with internal and governmental investigations

Mark L. Collins

Elizabeth Chatham Partner | Stinson Practice areas: Immigration

Henry Darwin Partner | Gallagher & Kennedy Practice areas: Environmental law

Shannon L. Clark Shareholder | Gallagher & Kennedy Practice areas: Plaintiff’s personal injury and wrongful death

John E. DeWulf Partner | Coppersmith Brockelman Practice areas: Contracts, business torts, trade secrets, real estate, securities, intellectual property, professional malpractice, officer and director liability, and products

Stasy D. Click Founder | Law Office of Stasy Click Practice areas: Family law Scott B. Cohen Shareholder | Engelman Berger Practice areas: Represents banks, lenders, landlords, guarantors, committees, and other creditors in bankruptcy, creditors’ rights matters, loan workouts, business turnarounds, Chapter 11 reorganizations, receiverships, bankruptcy litigation, and commercial litigation Anthony J. Coury Shareholder | Gallagher & Kennedy Practice areas: Litigation, plaintiff’s personal injury and wrongful death

Member | Gust Rosenfeld Practice areas: Real estate, litigation, public law Background: Collins has almost 40 years of experience in complex commercial and real estate litigation. Over the past decade, he has focused his practice on representing a governmental entity in negotiating and crafting the documents necessary for a wide variety of commercial projects, including hotels, corporate headquarters and massive upgrades to a regional public facility. For many years, Collins has been listed in the Real Estate Law category of The Best Lawyers in America and is AV Preeminent rated by Martindale Hubbell. Collins was Best Lawyers in America’s 2021 Lawyer of the Year in Tucson for Real Estate Litigation. Contact: mcollins@gustlaw.com

AB | January - February 2022

John Alan Doran Member | Sherman & Howard Practice areas: Labor and employment, litigation, trials, appeals Ashley Duncan Adams Founder and principal Adams & Associates Practice areas: White collar, criminal defense, government relations

AB | January - February 2022

David Michael Cantor

Founding partner | DM Cantor Practice areas: Criminal defense, homicide, white collar, and sex crimes. Background: Cantor is a Board-Certified Criminal Law Specialist, and has conducted more than 200 jury trials in his 30-plus year career. These have ranged from misdemeanor DUI, to multi-million-dollar federal white collar and double-capital murder defense jury trials. He has also handled hundreds of pre-indictment sex crime allegations, as well as dozens of Professional Board and Title 9 defenses. Cantor has not only defended regular Arizona citizens, but also many high-profile businesses and clients whose cases have been featured on national media outlets such as CNN, the CBS morning show, Hannity and Colmes, Inside Edition, Anderson Cooper Live, Good Morning America, and the Howard Stern Show. Contact: d.cantor@dmcantor.com

AB | January - February 2022

Christine Whalin

Partner and managing attorney DM Cantor Practice areas: Criminal defense, white collar defense, DUI-related defense. Background: Whalin is presently one of only 12 female criminal defense attorneys in the state of Arizona who are Board Certified Specialists in Criminal Law per the State Bar of Arizona, Board of Legal Specialization. She is also an “AV” rated attorney under Martindale-Hubbell’s peer review process. Whalin is a trial lawyer practicing for more than 15 years, strictly in the area of criminal defense. She focuses on representing individuals in all types of criminal cases ranging from state and federal felony and misdemeanor matters, along with school discipline and Title IX litigation. She is particularly skilled handling major felony cases involving sexual misconduct, sexual assault, and other serious “life-in-prison” allegations. Some representative cases: • Obtained acquittals after numerous Jury Trials on felony and misdemeanor allegations, including sexual conduct with a minor, aggravated assault with a deadly weapon, endangerment, child molestation, DUI, assault, public sexual indecency, and burglary. • Significant experience in representing those accused of sexual offenses such as sex conduct with a minor, child molestation, sexual exploitation of a minor, sexual assault, and other sexual offenses. • Successfully represented numerous people in vehicular crime allegations such as hit and run, aggravated DUI, manslaughter, aggravated assault with a deadly weapon, DUI, and other driving offenses. • She has also successfully represented numerous individuals accused of drug possession, sale, and transportation. Successfully represented individuals in both pre-arrest and post-arrest investigations for fraudulent schemes, theft, money laundering, conspiracy, embezzlement, and gambling violations. Contact: c.whalin@dmcantor.com

Nicholas Boca

Managing family law attorney Cantor Law Group Practice areas: Family law A Phoenix native, Boca began his career as an assistant Attorney General with the Arizona Attorney General’s Office, representing the Department of Child Safety. In this position, he appeared in several hundred court hearings, mediations, and trials. After that, Boca started with Cantor Law Group, where he now is the managing family law attorney. With Cantor Law Group, Boca’s trial experience continues to build, handling extremely contentious custody matters, along with high-net worth, complex, and high-profile cases. Boca is the co-chair of the MCBA family law section and chair of the Juvenile Law Section for the State Bar of Arizona. Contact: n.boca@cantorlawgroup.com

Helen Davis

Chair of the board The Cavanagh Law Firm Practice area: Family law Background: Davis is the managing partner and chair of The Cavanagh Law Firm and is adjunct faculty at the Sandra Day O’Connor College of Law. Davis handles complex financial and custody cases and is certified as a Specialist in family law by the Arizona State Bar; a Fellow of the American Academy of Matrimonial Lawyers; a Fellow of the International Academy of Family Lawyers; is AV-rated by Martindale-Hubbell; honored by Best Lawyers in America since 2013, Southwest Super Lawyer since 2015, and Arizona’s Finest Lawyer’s since 2014; honored as one of the most Influential Women in Arizona; and an Athena nominee. Contact: hdavis@cavanaghlaw.com

Matthew P. Feeney Phoenix firm chair | Snell & Wilmer Practice areas: Mergers and acquisitions, securities offerings, SEC reporting and compliance, and corporate governance matters

Paul D. Friedman Shareholder | Burg Simpson Eldredge Hersh & Jardine Practice areas: Personal injury, ethics and malpractice

Jay A. Fradkin Chair, Medical Malpractice and Healthcare Professional Liability | Jennings Strouss Practice areas: Medical and professional malpractice defense, products liability, personal injury defense, and insurance defense

Garrick L. Gallagher Owner and director | Sanders & Parks Practice areas: Personal injury, mass torts, insurance litigation and coverage

Leah S. Freed Shareholder | Ogletree, Deakins, Nash, Smoak & Stewart, P.C. Practice areas: Management-side labor and employment law Susan M. Freeman Partner | Lewis Roca Rothgerber Christie Practice areas: Business bankruptcy and on appeals of all kinds 74

AB | January - February 2022

Lauren L. Garner Partner | Jaburg Wilk Practice areas: Probate and trust litigation and mediation J. Phillip Glasscock Manager | Guidant Law Firm Practice areas: Business transactions, litigation and estate planning Benjamin Gottlieb Founding partner | MacQueen & Gottlieb Practice areas: Real estate, business, commercial cases

Jennifer Hadley Catero Partner | Snell & Wilmer Practice areas: Complex commercial litigation with an emphasis on corporate governance litigation, banking, consumer financial services and securities litigation and privacy and data security issues Robbie Hendricks Managing partner | State 48 Law Firm Practice areas: Complex divorce litigation and high conflict custody cases Tami Keller Shareholder | Polsinelli Practice areas: Works with lenders and borrowers in connection with commercial loan transactions and construction-based acquisitions, including both asset-based and real property lending

“Honored to be among Arizona leaders selected for AZ Business magazine’s list of Who’s Who in ’22.” (See page 25) — Heidi Bayer, Principal/Legal Recruiter

R E D E F I N I N G

P E R S O N A L I Z E D

S E R V I C E

Jonathan Frutkin

Principal | Radix Law Practice areas: Corporate and business law, corporate bankruptcy and commercial litigation Background: Frutkin has significant experience as an attorney, a business executive, and business owner. Frutkin’s legal practice focuses on providing general counsel, including legal advice on capital formation, mergers and acquisitions, litigation strategy and intellectual property. His work includes handling both domestic and international transactions on behalf of his business clients, ensuring that these matters comply with all relevant federal, state and international laws. Frutkin brings his talent and expertise, including real-life experience in the business world, to the practice areas of corporate and business law, corporate bankruptcy and commercial litigation. Contact: radixlaw.com

Phillip P. Guttilla

Office managing partner | Polsinelli Practice areas: Mergers and acquisitions Background: Guttilla is a deal lawyer. Whether it is a business sale or purchase transaction with a short timeline or a must-close financing, he brings practical solutions and creative thinking to get to closing. As a Certified Public Accountant and Chartered Financial Analyst, Guttilla takes a multidisciplinary approach to serving his clients. He delivers what he expects from his team – thought leadership and creative solutions with superior responsiveness. Guttilla values his clients and builds deep relationships; many of his client relationships go back decades. He is a trusted adviser who strives to help his clients minimize taxes, maximize their business enterprise value and keep the larger picture in focus. Contact: pguttilla@polsinelli.com

Larry Lazarus

Partner | Lazarus & Silvyn, P.C. Practice areas: Lazarus oversees a variety of client projects including high-rise office buildings, planned residential developments, resorts, luxury condominiums, urban in-fill redevelopment, and Native American community properties development. Background: Lazarus has earned the reputation as one of Arizona’s most talented land use attorneys due to his promotion of sound land use principles, good public policy and for the respect he shows to people from all walks of life. As a former chairman of the Urban Form Directions for the City of Phoenix, he significantly influenced the nationally recognized General Plan for the City called the Village Concept Plan. Contact: llazarus@lslawaz.com

Amy L. Lieberman Founder | Insight Employment Mediation and Insight Mediation Group Practice areas: Arbitration and mediation

Patrick R. MacQueen Founding partner | MacQueen & Gottlieb Practice areas: Real estate transactional law and real estate litigation

Leonardo Loo Phoenix office managing partner Quarles & Brady Practice areas: Mergers and acquisitions, commercial financing, international transactions, securities, and general corporate law

Nicole Maroulakos Goodwin Managing shareholder | Greenberg Traurig Practice areas: Corporate governance disputes, financial services litigation, real estate litigation, post-acquisition disputes, health care litigation, and franchise litigation

AB | January - February 2022

Anne E. McClellan General counsel | Jennings Strouss Practice areas: Pofessional liability, legal ethics, and litigation in the areas of medical malpractice defense, healthcare, personal injury defense, and business disputes Paul J. McGoldrick Attorney and owner | Shorall McGoldrick Brinkmann Practice areas: Personal injury cases and has experience as lead counsel in complex business disputes

AB | January - February 2022

William J. Maledon

Partner | Osborn Maledon Practice areas: Alternative dispute resolution and mediation, antitrust and trade regulation counseling and litigation, appellate, commercial litigation, sports law Background: Maledon is recognized as one of the leading commercial litigation and trial attorneys in Arizona and in the country. He has extensive experience in both federal and state courts in a wide variety of cases in Arizona and throughout the country, including antitrust and trade regulation, product liability, insurance coverage and insurance bad faith, class actions, securities, sports, and various other complex commercial cases. He also has extensive experience in handling appellate matters in both federal and state courts and he also has acted as mediator in numerous significant cases. Contact: wmaledon@omlaw.com

Michael McGrath Partner and the board chair | Mesch Clark Rothschild Practice areas: Debtor and creditor rights as well as commercial and real estate litigation and transactions John A. Micheaels Partner | Beale Micheaels Slack & Shughart Practice areas: Medical malpractice and catastrophic injury and wrongful death cases Alexandra Mijares Nash Partner | Mijares Nash Practice areas: Represents corporations and individuals in a wide variety of criminal and civil matters

Pernell McGuire

Kiersten A. Murphy Attorney | Henze Cook Murphy Practice areas: Public procurement, commercial litigation, appeals Randy Nussbaum Attorney | Sacks Tierney Practice areas: Bankruptcy, debtor and creditor rights, trustee representation, commercial litigation, real estate law, construction litigation Luis Ochoa Partner | Quarles & Brady Practice areas: Indian law and policy, tribal housing, gaming, business entity formation, real estate development, leasing of nontribal fee land, tribal trust and allotted land

Managing partner | Davis Miles McGuire Gardner Practice areas: Bankruptcy, banking and lending Background: McGuire has served as the managing partner of Davis Miles McGuire Gardner for the past seven years. Under his leadership, the firm has doubled its revenues and earned a No. 3 ranking among all large firms in the state, according to Ranking Arizona in 2021. McGuire and his partner, Douglas Gardner, recently led an ownership transition of the firm, naming an additional nine new equity partners while retaining the firm’s traditional name. He is a certified specialist in bankruptcy by the Arizona State Bar and is named among the 2022 Best Lawyers in America by U.S. News and World Report. Contact: pmcguire@davismiles.com

AB | January - February 2022

Sharon J. Oscar Founder | Law Office of Sharon J. Oscar Practice areas: Shopping center law, commercial real estate and commercial leasing cases Michael R. Palumbo Special counsel | Jennings Strouss Practice areas: Civil litigation Randy Papetti Partner | Papetti Samuels Weiss Practice areas: He has litigated and tried major commercial, intellectual property, and even criminal cases Kristy L. Peters Shareholder | Littler Mendelson Practice areas: Labor and employment matters arising under federal and state laws

AB | January - February 2022

Christina M. Noyes

Partner | Gust Rosenfeld Practice areas: Franchise, corporate, intellectual property Background: Noyes has 25 years’ experience in franchise, corporate, and intellectual property law. Her practice includes preparing and reviewing franchise disclosure documents and obtaining franchise registrations on a national basis, as well as handling federal and state trademark registrations and renewals. She represents franchisees and franchisors, and she has been listed in the Franchise Law category of The Best Lawyers in America since 2009. She was named by Best Lawyers as the 2015 Franchise Law Lawyer of the Year for Arizona. Noyes’ practice also includes helping business and nonprofit clients with formation, contracts with vendors and customers, mergers and asset acquisitions. Contact: cmnoyes@gustlaw.com

Scott I. Palumbo

Founding partner | Palumbo Wolfe & Palumbo Practice areas: Personal injury and wrongful death Background: Palumbo is a trial lawyer dedicated to defending those who have been victimized by serious personal injury accidents and those who have lost loved ones to wrongful death. He is the immediate past president of the Arizona Association for Justice/ Arizona Trial Lawyers Association and an adjunct professor of law at Arizona State University’s Sandra Day O’Connor College of Law. Palumbo is included in The Best Lawyers in America in the areas of Plaintiffs Personal Injury Litigation and Medical Malpractice Law and was named the 2020 “Lawyer of the Year” for Plaintiff’s Medical Malpractice Law. Contact: palumbowolfe.com

Steven Plitt

Senior member | The Cavanagh Law Firm Practice area: Insurance defense Background: With more than 39 years of experience, Plitt is an insurance coverage lawyer handling complex, high-exposure disputes and bad faith cases. He was inducted as a Fellow into the American College of Coverage Counsel and the American Law Institute. He has been named as an “Insurance Lawyer of the Year” several times by Best Lawyers. Plitt has been a Top 50 lawyers in Arizona for Southwest Super Lawyers for the past 15 years. He is Band 1 ranked by Chambers and Partners USA and teaches insurance law at The University of Arizona. Contact: splitt@cavanaghlaw.com

Jason Pritchett

Partner | Radix Law Practice areas: Commercial business transactions, mergers and acquisitions Background: Pritchett is an experienced Arizona business attorney practicing primarily in the areas of commercial business transactions, mergers and acquisitions, contract drafting, reviewing and negotiation, as well as sports consulting and advisement. Previously, Pritchett practiced in the litigation and corporate groups at Fennemore Craig. Pritchett’s diverse practice experience in both the litigation and corporate worlds grants him a complete perspective of business transactions and entity development from inception to completion. This valued insight enables Pritchett to efficiently and effectively advance his clients’ interests, whether fellow attorneys, business executives or start-up entrepreneurs. Contact: pritchett@radixlaw.com 80

AB | January - February 2022

Barbara U. Rodriguez-Pashkowski

Partner | Gust Rosenfeld Practice areas: Environmental law, litigation Background: Chair of the firm’s Real Estate and Commercial Sections, RodriguezPashkowski concentrates her practice on environmental law, including environmental compliance, WQARF, CERCLA, UST matters, due diligence, air quality, water quality, and RCRA. She brings to her clients years of experience, including state and federal Superfund litigation, UST compliance and appeals, air quality and water quality permitting and regulatory compliance, asbestos compliance, RCRA regulatory compliance, environmental rule writing, and legislation. Rodriguez-Pashkowski works with various federal, state, and local governmental entities and private companies on a broad range of environmental issues. She was selected as MCBA Member of the Year, 2021, and was named in The Best Lawyers in America and Az Business Leaders in 2021. Contact: bpashkowski@gustlaw.com Daniel P. Quigley Partner and president Cohen Dowd Quigley Practice areas: Complex business litigation and contested administrative proceedings Stephanie Quincy Shareholder | Greenberg Traurig Practice areas: Labor and employment, trade secrets and unfair competition, financial institutions litigation, trade secrets Cathy L. Reece Director | Fennemore Practice areas: Financial restructuring, bankruptcy and creditors’ rights Cynthia A. Ricketts Founding partner Sacks Ricketts & Case Practice areas: Complex contract and commercial litigation, consumer class action defense

Keri Silvyn

Joel B. Robbins Partner | Robbins & Curtin Practice areas: Serious personal injury, wrongful death, and civil rights cases

Dev Sethi Partner | Schmidt, Sethi & Akmajian Practice areas: Personal injury and wrongful death

Kristen Rosati Partner | Coppersmith Brockelman Practice areas: Data breaches, health information exchange, data sharing for research and clinical integration initiatives, clinical research compliance, and biobanking and genomic privacy

David S. Shughart Partner Beale Micheaels Slack & Shughart Practice areas: Personal injury and insurance litigation

Thomas J. Salerno Partner | Stinson Practice areas: Bankruptcy and creditors’ rights, aviation and aerospace Ted A. Schmidt Managing partner | Schmidt, Sethi & Akmajian Practice areas: Personal injury

Partner | Lazarus & Silvyn Practice areas: The client projects Silvyn oversees include medical campuses, retail, office, residential and mixed-use developments, industrial complexes, continuing care retirement communities, local cities and towns, and negotiations of economic development agreements. Background: Silvyn specializes in zoning and land use law in Southern Arizona, with an emphasis on sustainable development, and appropriate and responsible growth. She advises private developers and local governments on the application of zoning codes, compliance with state statutes and current land use case law, and effective public/private partnerships. Silvyn’s career spans over 20 years and her leadership and expertise have been recognized for excellence locally, statewide and nationally. Contact: ksilvyn@lslawaz.com

AB | January - February 2022

Leon B. Silver Managing partner | Gordon & Rees Practice areas: Complex commercial and real estate disputes K. Thomas Slack Partner Beale Micheaels Slack & Shughart Practice areas: Catastrophic injury and wrongful death

PAID ADVERTISEMENT

REVERSING THE EXODUS OF THE GREAT RESIGNATION Highly successful businesses retain employees by making them owners Thirty years ago this year, Craig Danley and his business partner launched Delta Pipeline Inc. They have an office in Long Beach, California and have recently expanded their services into Arizona. Delta Pipeline works in both the public and private sectors – their projects include redevelopment and new construction of schools, medical buildings, retail, office and industrial space. From the start, they frequently shared profits with their employees as a way for them to participate in the growing construction company’s success. In 2017, Delta Pipeline became employeeowned through an ESOP (Employee Stock Ownership Plan) – a qualified retirement plan used to transfer all or part of the company’s stock to a trust through which employees accrue shares as a retirement benefit. ESOPs and other forms of employee ownership give employees a direct stake in the company’s growth. This makes them a powerful tool to recruit and retain employees

and help reverse the tide of the Great Resignation. The majority of small businesses in Arizona are still feeling the impact of the pandemic as businesses are struggling to keep their employees engaged and hopeful for a prosperous future. These challenges are layered on top of an ownership succession crisis that was already unfolding. Baby boomers own nearly half of all businesses with employees in Arizona and are set to retire in record numbers. Nonprofit organization Project Equity analyzed the number of privately-held companies in Arizona that have owners who are 55 years and older. These businesses: • Number 50,000 • E mploy approximately 597,000 individuals • Generate over $99B in revenue Without succession plans, many of these businesses could close with immense economic impact, or simply consolidate or move out of the area. That was precisely

the scenario Danley wanted to avoid when he chose to make Delta Pipeline employeeowned. “With employee ownership, you get to be better,” Danley said. “You get to grow. And it’s not only about your retirement. It’s about what happens to you while you’re building a company as an owner. It changes the way you interact with your colleagues, your family, your supervisor and your community.” Employee ownership lets an owner achieve partial or full liquidity at market value and may offer the opportunity of significant tax benefits, to the owner and to the business. “If you’re an owner, and you do not have a succession plan yet, it’s never too early to start,” Danley said. “It’s a big bet to think that somebody’s just going to buy what we created.” To learn more about how to stem the Great Resignation through powerful employee engagement, or to ensure your business legacy continues, reach out to Project Equity at project-equity.org/free-consultation

AB | January - February 2022

David B. Rosenbaum

Partner | Osborn Maledon Practice areas: Complex commercial litigation in state and federal courts Background: Rosenbaum’s practice focuses on complex commercial litigation in state and federal courts. He has represented public companies and their officers and directors in numerous securities fraud class actions; represented Fortune 50 companies in a wide range of complex commercial litigation matters, including matters involving intellectual property disputes; represented a major telecommunications company in an array of commercial litigation matters; represented companies in sales and use tax disputes; and represented national and local companies in employment controversies, including class-action discrimination lawsuits. As past president of the Federal Bar Association and Lawyer Representative to the Ninth Circuit Judicial Conference, Rosenbaum has developed knowledge and experience in the finer points of prosecuting complex litigation in federal courts. Contact: drosenbaum@omlaw.com

Brian J. Schulman

Attorney | Weiss Brown Practice areas: Complex business disputes, including contract matters, fraud, securities law, shareholder disputes, real estate, financial services, and officer/director liability Background: As both a litigator and counselor, Schulman is in the problem-solving business – whether that means acting as a zealous advocate in court or offering strategic advice on an internal business issue. Schulman’s litigation practice focuses on business and regulatory disputes, including contract matters, fraud, securities law, shareholder disputes, business divorces, real estate, tribal law, financial services, and officer/director liability. Schulman also acts as a private mediator and judge pro tempore. Contact: brian.schulman@weissbrown.com

Bradley D. Shwer

Co-founding partner | Thorpe Shwer Practice areas: Business and commercial litigation, personal injury torts, and products liability Background: Shwer is the founding partner of Thorpe Shwer, a boutique civil litigation law firm representing Fortune 500 companies, local businesses, individual entrepreneurs, and government entities in high-stakes cases across the United States. His practice areas include business and commercial litigation, personal injury defense, franchise litigation, products liability, and employment litigation. He has litigated cases across the country in federal and state courts. He has been recognized as a top 50 lawyer in Arizona by Southwest Super Lawyer and as a Sun Devil 100 member. Contact: bshwer@thorpeshwer.com

Gary Smith

Manager | Guidant Law Firm Practice areas: Cannabis, psychedelics, construction, real estate and administrative law Background: A seasoned litigator, mediator and arbitrator, Smith focuses his practice on cannabis, psychedelics, construction, real estate and administrative law. He is trusted to handle a wide range of complex, multi-million-dollar disputes. A prolific writer, speaker and thought leader, Smith has authored numerous legal manuals, including “The Orange Book: The Regulation of Arizona Contractors,” and “Psychedelica Lex,” the latter of which solidified him among the country’s foremost authorities on psychedelics law. AV Preeminent rated from Martindale-Hubbell, Smith founded the Arizona Cannabis Bar Association and serves on the board of the Arizona Cannabis Chamber of Commerce. Contact: admin@guidant.law

AB | January - February 2022

Wendi A. Sorensen

Shareholder | Burch & Cracchiolo Practice areas: Personal injury and wrongful death Background: Sorensen is a Certified Specialist in Personal Injury/Wrongful Death Litigation. In addition, she has a robust mediation practice defending aggravated liability and damages matters, including trucking accident cases, vehicular products liability matters, construction site injury and death matters, and premises liability cases. She is the current Arizona State Bar Board of Legal Specialization Chair. Sorensen is a Best Lawyer in America, and been named one of the “Top 25 Women Attorneys” in Arizona by Southwest Super Lawyers in 2013 and 2015-2021. She was a Arizona Business Leaders Top Lawyer in 2019-2021 and one of the “Most Influential Women in Business” in 2015. Contact: wsorensen@bcattorneys.com

Carolyn Tatkin

Partner | Radix Law Practice areas: Consumer and business bankruptcy, representing both creditors and debtors Background: With more than 35 years of legal experience, Tatkin is adept at handling all aspects of her clients’ bankruptcy matters. She also focuses on non-bankruptcy resolutions for clients with complex financial challenges. She enjoys counseling her clients, prioritizes open communication, and particularly values the trust that they place in her. Over the years, she has also practiced in the fields of commercial litigation, insurance bad faith litigation, construction defect litigation as well as general business and commercial law. Contact: radixlaw.com

William L. Thorpe

Founding partner | Thorpe Shwer Practice areas: Complex commercial and tort matters Background: Widely considered one of Arizona’s preeminent litigators and trial attorneys, Thorpe is the founding partner of Thorp Shwer, a boutique civil litigation law firm representing Fortune 500 companies, local businesses, individual entrepreneurs, and governmental agencies in high-stakes litigation in state and federal courts across the United States. His practice areas including business and commercial disputes, personal injury defense, railroad and trucking industry litigation, products liability, employment litigation, and appellate work. He has tried cases to juries in federal and state courts throughout the Southwest. Contact: wthorpe@thorpeshwer.com Pilar Thomas Partner | Quarles & Brady Practice areas: Tribal renewable energy project development and finance, tribal economic development, federal Indian Law Geoff Trachtenberg Managing partner | Levenbaum Trachtenberg Practice areas: Personal injury, litigation and appeals

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Paul M. Weiser Shareholder | Buchalter Practice areas: Commercial real estate Dennis I. Wilenchik Managing partner | Wilenchik & Bartnes Practice areas: Civil litigation with an emphasis on real estate and business Quinn P. Williams Shareholder | Greenberg Traurig Practice areas: Mergers and acquisitions, public and private securities offerings

Susan M. Wissink Director | Fennemore Practice areas: Corporate and mergers and acquisitions Mark G. Worischeck Shareholder | Sanders & Parks Practice areas: Complex civil litigation

Debora Verdier Senior member | The Cavanagh Law Firm

Practice area: Labor and employment Background: Verdier defends employers, including municipalities, in all types of labor and employment disputes pending before the Equal Employment Opportunity Commission, state and federal courts and private arbitrators. She has been appointed to the International Association of Defense Counsel and served as a judge pro tem in the Maricopa County Superior Court for eight years. Since 2012, she has served as an adjunct professor at Arizona State University, where she teaches a practical skill course called “The Litigation Experience.” She has been recognized as one of Southwest Supers Lawyers’ “Top 25 Arizona Women Attorneys” for seven years in a row. Contact: dverdier@cavanaghlaw.com

Scott K. Weiss Attorney | Weiss Brown

Practice areas: Mergers and acquisitions, start-up emerging businesses, financing Background: Weiss is a corporate and securities attorney and focuses his practice in the areas of securities, private placements, venture capital, and mergers and acquisitions. Weiss is also a certified public accountant. Prior to forming his own law firm, Weiss was a shareholder at an international law firm and served in the audit practice of Arthur Andersen. Weiss has been listed in Chambers & Partners USA Guide, an annual listing of the leading business lawyers and law firms in the world, in the 2008-2010 and 2014-2021 editions. Contact: scott.weiss@weissbrown.com

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2022

WHY PHOENIX IS SO HOT (And we’re not talking about the weather)

GPEC leads the Valley of the Sun to a record-setting run of economic growth

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GREATER PHOENIX ECONOMIC COUNCIL

GROWTH SPURT Here’s how GPEC has helped the economy in Metro Phoenix reach new heights for innovation and expansion

By MICHAEL GOSSIE

hile many of the nation’s businesses have struggled throughout the pandemic, the economy of Metro Phoenix has been firing on all cylinders. “Arizona has been the benefactor of many elements that have helped the economy, including attracting top tier e-commerce, in-migration from surrounding states and the fundamentals 92

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that are attracting businesses to Arizona,” says Derek Wright, president of Suntec. Wright also points to the many megaprojects that have gone online over the past year that will set the Metro Phoenix region up for a ripple effect of companies following suit in choosing Arizona for additional operations. And many of those mega-projects would not be possible without the behind-the-scenes work of the

Greater Phoenix Economic Council (GPEC). “We can see the evidence of GPEC’s investment, relationships and hard work from east to west in the Valley,” says James Murphy, CEO of Willmeng Construction. “Buckeye was named the fastest-growing city, according to U.S. Census data, and we can see significant infrastructure growth that laid the groundwork for this commercial and residential development.

Companies like ElectraMeccanica building a production plant in Mesa are spurring growth in the East Valley for similar plants. E-commerce is active across the Valley and prompting subsectors such as cold storage to grow at a faster pace than many cities in the nation as a result of the business attraction, labor pool and product demand.” Az Business talked with Chris Camacho,

president and CEO of GPEC, about the recent economic wins the organization has achieved and what he sees for the future of Metro Phoenix’s economy. Az Business: Can you talk a little bit about how 2021 went for GPEC? Chris Camacho: In the last 12 months, we’ve seen a massive shift in a couple different areas — one being that

industrial technology momentum has been very strong. The industrial tech space is generally categorized by advanced electronics, semiconductors, and the supply chain that supports those sectors. We’ve had pretty robust activity in those areas, plus electric vehicles. We’re coming off the heels of Taiwan Semiconductor Manufacturing Company (TSMC) coming to Arizona — which is the biggest deal in AB | January - February 2022

GPEC

Chris Camacho the country — along with the expansion of Intel, which is a $20 billion investment. We’re on the map globally now for industrial technology. In a normalized market, you would see about 60% of GPEC’s deal flow in office and 40% in industrial. Today, we’re doing 70% in industrial and 30% office deals. So, it’s pretty graphic change. AB: What makes Metro Phoenix so attractive for these industrial projects? CC: Well, it starts with labor. We have the requisite labor with our history in semiconductors and aerospace and defense. It starts with a qualified labor force, having a P-20 education system that meets the needs of business — whether it’s precision manufacturing within the community college system or the engineering capacity at our universities. That’s been part of the reason why we’ve been so attractive to industrial users. We are also growing in biomedical, and a large part of that success is because of the University of Arizona, Creighton, our medical schools, and the partnership with Mayo Clinic and ASU. We’re just hitting our stride on that. That’s going to get even more intensified. AB: Outside of the workforce, what are these industrial clients seeking? CC: They look at the infrastructure and the power grid. Is the power grid stable? Are the rates competitive? Is the water and wastewater infrastructure already there or do they have to build it? Finally it’s quality of life and cost competitiveness. So you put together the quality of life, meaning affordability for families, and the cost competitiveness for company operations. They can attract people who want to move out of California or want to move from Chicago 94

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James Murphy

Derek Wright

to Arizona. So all those ingredients are why we’ve done well. AB: How did Metro Phoenix become such a hot spot for electric vehicles so quickly? CC: I give Gov. Doug Ducey a lot of credit. Back in 2015, before electric vehicles and autonomous vehicles were really mainstream, he adopted an executive order that enabled Waymo and other companies to test in our market. At the time, it was kind of a frontier mindset to do that. But what happened, ultimately, was we garnered a lot of notoriety because of the testing of a lot of these nascent emerging automotive companies. That just builds over time, so success begets success. When you have that testing, the engineering capacity at ASU, and being next door to California, where a lot of innovation initially was created, all those initial ingredients help us become a destination for scaled manufacturing. But what put us on the map five or six years ago was the initial fortitude to create regulatory policy that was attractive for autonomous vehicle testing here. What have we done right to attract that investment?

really accelerated in the last two to three years is these out-of-state venture capital firms are looking at Arizona now, much like they are looking at Austin, Texas. AB: How have things like the FinTech Sandbox and the Wearable Technology Center impacted Arizona in terms of becoming a hot spot for innovation? CC: They’re all ingredients, right? There are a dozen companies in the Wearable Technology Center that I think are going to put Arizona on the map for biomedical instrumentation. The Wearable Technology Center and the sandboxes around PropTech and FinTech really put us on the global map because people look at them and say, “Hey, this is a place that’s very, pro-business and is going to enable global technologists to test their idea or concept in a state that will help to protect their IP.” And the difference between Arizona and California or any other Western market is you’re able to come here and test and validate your technology with such ease, as opposed to a lot of the regulatory burdens that exist in other places.

AB: We talked about semiconductors and electric vehicles. What are some of AB: Attracting venture capital was a the other hot sectors that you’re seeing problem for Arizona in the past, but that heading into 2022? seems to be changing. What have we done CC: All the way through this downturn, right to attact more investors? cybersecurity and software have been CC: A decade ago, we were satisfied with really strong, and they’ll continue to be being a place where people came and we strong. What also has occurred in the last took other people’s intellectual property 24 months is we’ve quietly become one (IP) and allowed them to get it to scale. of the top financial services hubs in the About a decade ago, we set a chartered country. While there may not be a lot of course to build our own IP. So we’ve created fanfare about that, as the return to office assets such as the Wearable Technology occurs over the next 24 months in New Center and the Blockchain Institute that York, Chicago, Boston or Los Angeles, we’re were launched over the last five years. seeing and hearing about divisions being Now, we’re creating new Arizona-based IP. shifted out of those places and very quietly So, what’s been happening and what has moving into existing space they already

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GPEC

GPEC locates in 2021 Molded Devices, Tempe 62 jobs

Align Technology, Tempe 150 jobs

Bonelli Doors + Windows, Mesa 35 jobs

Delta Apparel, Phoenix 69 jobs

Cambridge investment Research, Phoenix 50 jobs

*Project Seahawk, Mesa 53 jobs

Five Below, Buckeye 150 jobs *Project Wrigley, Goodyear 200 jobs PennyMac Mortgage, Phoenix 374 jobs Bright Health, Tempe 90 jobs Amazon, Goodyear 1,000 jobs Honeywell (Project Storm), Phoenix 340 jobs Honeywell (headquarters), Chandler 585 jobs Kuehne + Nagel, Phoenix 35 jobs Protecht, Phoenix 30 jobs Langham Logistics, Phoenix 25 jobs Metal Finishing Solutions, Phoenix 28 jobs *Project Westward, Phoenix 111 jobs *Project Millennial, Phoenix 761 jobs

Awake Window and Door Company, Gilbert 20 jobs ThriftBooks, Phoenix 150 jobs Green Worldwide Shipping, Phoenix 30 jobs Mlily USA, Goodyear 424 jobs Viavi, Chandler 233 jobs LifeStance Health, Scottsdale 100 jobs *Project Test, Phoenix 50 jobs *Project Dino, Glendale 25 jobs ElectraMeccanica Vehicle Corp., Mesa 300 jobs Robinhood, Tempe 182 jobs Mechanical Keyboards, Chandler 15 jobs APEL Extrusions, Phoenix 184 jobs IQVIA, Mesa 100 jobs

ClearSky Health, Avondale 75 jobs TSMC, Phoenix 1,900 jobs HelloFresh, Phoenix 750 jobs OnePointOne, Avondale 53 jobs Thinkzilla Consulting Group, Scottsdale 10 jobs KOAM, Phoenix 10 jobs Marketech International Corp., Phoenix 69 jobs Anuncia, Scottsdale 10 jobs *Project Corney, Mesa 600 jobs *Project Jomi, Casa Grande 58 jobs Georgia Pacific, Phoenix 41 jobs *Project Flaming Bird, Phoenix 210 jobs Brooklyn Bedding, Glendale 181 jobs

* Locates listed under project name have completed lease agreements, but have not made formal announcements.

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have in Phoenix. So I think financial service is going to be very exciting. We also lead the nation in percentage job growth in bioscience. If you add that to the healthcare segment, we’re going to have more than 300,000 people working in that sector alone in the Metro Phoenix region. AB: One of the strengths that Metro Phoenix has always had has been affordable living costs, but housing prices are skyrocketing. How will that impact our ability to attract new business? CC: Yes, and the projections are that we’re going to see pretty modest increases again. The good news, if there is any, is that our base was lower than the national average. For the first time we’ve creeped over on the index, instead of at the 100% index, we’re at 113% on the housing index. But our overarching affordability is still competitive. That’s what a lot of these hot markets are grappling with today. So when you’re in Austin or Seattle or Denver, or these other places where jobs are wanting to go, the only advantage we have is we have much more land to grow. Where we got caught a little bit flat is we’ve seen an overarching demand for our housing, but unlike 2006, we did not overbuild. We don’t have an oversupply today. I do think the housing market will level out as you see interest rates hike in 2022. I think you’ll see a much more normalized housing situation than what we’re seeing or what we saw in the last 12 months. AB:Looking ahead to 2022 and beyond, what’s your outlook for GPEC and the Metro Phoenix economy? CC: I think we’ve got another four quarters of pretty extensive growth. In our pipeline today, there are 252 companies evaluating the market. Like I said, about 70% of those are industrial technology related companies. My hope is that we strengthen or fortify our position of being a global leader in semiconductors. I think we’re going to continue to be an e-commerce hub. I also think you’re seeing a return to aviation, so commercial and business aviation activity around our airports. I think we’re very wellsituated on many fronts in terms of cost competitiveness, labor supply, and quality communities. So that’s why I’m still very confident that we’re going to have a very strong 2022 calendar year.

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GPEC

PAYING DIVIDENDS Here’s how Metro Phoenix is starting to attract more venture capital

By KYLE BACKER

nnovation and Arizona State University (ASU) are essentially synonyms. For the seven years that U.S. News & World Report has offered an innovation category, ASU snatched No. 1 every time, outperforming other juggernauts such as Stanford University and Massachusetts Institute of Technology. One outlet for this creativity is Skysong Innovations, the vehicle that brings ASU research into the market. In November 2021, ASU passed a significant milestone when it announced that startups in its portfolio attracted $1 billion in external funding. “It’s a testament to the quality of the ASU technologies that are coming out of this university,” says Kyle Siegal, senior vice president and chief patent counsel at Skysong Innovations. “It speaks to the growth in Arizona companies’ ability as a whole to attract venture capital investment from outside of the state.”

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Historically, the Grand Canyon State hasn’t been a top contender for venture capital. CBRE’s Q3 2021 Life Sciences Trends report shows that three markets attract 70% of life science venture capital funding: Boston-Cambridge, San Diego and the San Francisco Bay area. The same report identifies where the remainder of the 30% is allocated, and Phoenix didn’t attract enough to warrant a “hot spot” label. Still, Joan Koerber-Walker, president and CEO of AZBIO, is bullish on the state’s future as a magnet for venture capital. “We are making great progress. Every time I get new reports, Arizona is getting more and more venture capital,” she says. “But we’re still not in the top 10, because other states have a complete ecosystem. If you’re missing even one component, it doesn’t work efficiently.”

ATTRACTING INVESTORS: Arizona State University just passed a milestone with more than $1 billion raised in external funding by the startups in its portfolio at Skysong Innovations, the entity that brings ASU research into the marketplace. (Provided photo)

Brandon Clarke

Joan KoerberWalker

Kyle Siegal

An integrated system An ecosystem is composed of separate-but-related parts that impact one another. If a herd of deer doesn’t have a predator, the group will overpopulate and stretch the available resources until the population recalibrates itself. Even though the wolf preys on the deer, they both need each other for a healthy existence. Luckily, entrepreneurs are far more collaborative than the denizens of the natural world. Brandon Clarke, co-founder and CEO of StartupAZ, describes the startup ecosystem as the humans, assets and resources that comprise a vibrant community. “Universities are participants in the ecosystem, along with accelerators, incubators and mentor networks,” he says. Clarke launched StartupAZ in 2015 because he saw a need for an organization dedicated to founders learning from one another. “As you get into the stage of finding product market fit, talent and capital becomes essential, but so does having a peer network of other founders going through the same thing. We took some principles from other CEO mastermind type groups, and focused on early stage, founding CEOs of high growth tech companies,” he says. “We felt if we could develop that category of leader, it would have a big impact on our ecosystem. And more importantly, it could help establish a stronger, more resilient economy rooted in high growth tech in the coming years and decades.” Convincing investors that successful technology or life sciences companies will come from Greater Phoenix is a challenge because, as Siegal notes, venture capital firms want to co-locate near innovation hubs. “Historically, it’s been challenging for entrepreneurs in Arizona to raise early-stage capital, because the majority of wealth created in the state has been through real estate, not technology related investments,” he says. “It’s a matter of making the case to the venture capital ecosystem over a period of many years that they should be paying attention to what’s going on here.” What that initially looks like is out-of-state venture capital providing funds into local companies, then, hopefully, relocating AB | January - February 2022

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GPEC to the state and becoming a part of the ecosystem. Clarke notes that over the last three years, active StartupAZ members have collectively raised over $201 million, approximately 80% of which has come from outside of Arizona. “It’s a sequential process, but we’re well on our way,” Siegal adds. “If we talk about ASU, we’ve launched more than 190 startups. Many of our spinouts are based in Arizona, and most of their financing does come from out of the state. That means folks outside of Arizona are noticing the quality of innovations.” Internal growth One of ASU and Skysong Innovations’ spinout companies, OncoMyx Therapeutics, is built around a treatment that uses an engineered virus to attack cancer cells developed by Grant McFadden, a professor and director of ASU’s Biodesign Center for Immunotherapy, Vaccines and Virotherapy. In December 2021, the company announced $50 million in Series B funding. “That’s the exception, not the rule,” Koerber-Walker says. “It’s a harder to get venture investment here than it is in places like Boston, San Francisco or San Diego. It’s not that our companies aren’t any better than what they have. It’s because we don’t have very early-stage venture capital, sometimes called seed capital. The companies don’t get to a level where they are venture ready.” AZAdvances, an initiative of AZBio and the Opportunity

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Through Entrepreneurship Foundation, is designed to address the lack of venture capital in the state, what Koerber-Walker describes as a significant issue in the way of building up the life sciences industry in Arizona. “Venture capitalists look for certain milestones that a company has hit before they’re ready to write a big check. Getting through those gates cost money,” Koerber-Walker explains. “AZAdvances is not currently deploying capital, but the goal is to build a $200 million endowment that will then yield $10 million a year in early seed capital in Arizona forever. That will allow the most promising companies that are based in Arizona to progress through these gates so they can attract more capital.” Ultimately, she believes that devoting resources in our innovation sectors, whether it’s technology, life science or advanced manufacturing is one of the greatest opportunities Arizona has coming out of the pandemic. “As we invest in these companies, they will grow and hire people here. These industries tend to have high wages, which builds the money supply that circulates in our state, so every business benefits,” Koerber-Walker concludes. “Every time that money recirculates, the state gets a little piece and it builds our tax base, so we have more money for the important things, such as roads, education and taking care of our people. This is a wonderful opportunity for Arizona, and it’s time to capitalize on it.”

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SILICON IN THE VALLEY Metro Phoenix has become a major player in the semiconductor industry, generating jobs and strengthening the economy 104

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By DANIEL OBERHAUS Arizona State University

ilicon is an example of a semiconductor, materials that have the characteristics of both a conductor, such as copper, and an insulator, like glass, allowing engineers to precisely dial in exact electricity flow under specific conditions. This makes semiconductors well-suited for building the microscopic circuits at the heart of the computers in our devices. Every year, more than a trillion semiconductors roll off assembly lines to meet an insatiable appetite for

microelectronics that are faster, smarter, cheaper; demand is growing. The U.S., birthplace of semiconductors, was once the global manufacturing leader. But over the past few decades, competition drove many manufacturers abroad. According to the Semiconductor Industry Association, the U.S. now manufactures about 12% of the world’s semiconductors. The coronavirus pandemic exposed the risks of relying on an international supply chain for a critical product. As the virus circled the globe, worldwide semiconductor manufacturing facilities — called fabs — came to a standstill. Suddenly, no one could get their hands on the chips that power the modern world. The shortage has held up production for cars, televisions, washing machines and even smart toasters. Politicians in Washington, D.C., realized that semiconductor manufacturing in the U.S. is a matter of national security. When President Joe Biden announced his administration’s $2 trillion infrastructure bill, he held a semiconductor chip aloft to underscore the industry’s prominent place in the bill. “Everyone is impacted by semiconductors, but we don’t always see all the ways that microchips support the lives we lead,” says Sally C. Morton, executive vice president of Arizona State University’s Knowledge Enterprise. “We need to have autonomy in this space for both production and distribution.” Arizona’s chip investment Because of strong historical roots and rapid expansion, Arizona is poised to be at the epicenter of the American semiconductor revolution, with ASU playing a starring role. Last spring, two of the world’s largest chipmakers, Intel and Taiwan Semiconductor Manufacturing Company, announced plans to spend a combined $32 billion building three semiconductor fabs in the Phoenix region, with TSMC purchasing enough land to possibly build five more fabs, which would invest billions of dollars more. Around the same time, Samsung shortlisted Phoenix as a possible factory site. The interest in Phoenix makes sense. For decades, city officials, business leaders and ASU cultivated the infrastructure,

regulatory environment and human talent the industry needs. And their timing couldn’t have been better. Worldwide semiconductor industry sales hit $439 billion in 2020, according to the SIA, with the industry projected to reach $803.15 billion by 2028. “Building up the semiconductor ecosystem in this state will bring industry and jobs,” Morton says. “This is an economic opportunity that improves our well-being.” When Michael Kozicki, a professor of electrical engineering and director of the Center for Applied Nanoionics, first arrived at ASU in 1985, semiconductor manufacturing had already established a foothold in the area. Intel and Motorola anchored it, building a foundation that includes NXP, ON Semiconductor, Microchip Technology, Medtronic and others. Kozicki’s ability to straddle the divide between industry and academia has proved invaluable for preparing generations of Sun Devils for careers at the world’s largest chipmakers. Today, he leads courses covering everything from working in the planet’s cleanest laboratories to designing next-gen chips, a heady mixture of practical and experimental knowledge that students need to drive nonstop innovation in microelectronic engineering. Local partnerships, global impact “There are not many universities that do courses in semiconductor fabrication where you get a hands-on, industry-relevant education,” Kozicki says. “It’s all part of getting people ready to be productive professionals within the semiconductor industry. We’re a major supplier of talent.” ASU’s emphasis on industry-relevant research has forged mutually beneficial partnerships with local semiconductor firms. In 2017, for example, the university partnered with ON Semiconductor, a Phoenix-based supplier to the global industry, to establish a $2 million, fiveyear award to support two ASU professors working on the leading engineering and supply chain issues faced by manufacturers. One of the award recipients is Bertan Bakkaloglu, a professor of electrical engineering. His research focuses on AB | January - February 2022

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GPEC analog circuit design. It’s foundational for the emerging Internet of Things, connecting machines to the web to monitor and control them remotely. To turn off lightbulbs while away, a conventional copper switch isn’t going to cut it. Bakkaloglu says the ON Semiconductor professorship critically supports his students’ research efforts. Manufacturing small batches of experimental semiconductor chips can cost tens of thousands of dollars. Still, the process of taking a chip from concept to fabrication is a critical experience that prepares students for the industry’s challenges. “Our students gain experience in areas that almost every semiconductor company in town requires,” Bakkaloglu says. “My PhDs don’t go to the Bay Area or Texas. They stay in Arizona. So it’s a fundamental win-win because there’s a shortage of qualified semiconductor designers, and these companies get graduates who hit the ground running.” ASU’s Ira A. Fulton Schools of Engineering will further boost Phoenix’s reputation as semiconductor central

with the recent launch of the School of Manufacturing Systems and Networks, which focuses on the research and education needed to drive the ideas critical to technology development for the Fourth Industrial Revolution. ASU’s newest engineering school will prepare students to meet the challenges of industry 4.0, with semiconductor-related engineering and research a core component. “Without a doubt, the school will play a role in helping industry leaders think about what the fab facility of the future looks like,” says Kyle Squires, dean of ASU’s Fulton Schools. “How can you neglect that, given what’s happening in the Valley with semiconductor manufacturing?” Benefiting Arizonans Dennis Hoffman, a professor of economics and director of the L. William Seidman Research Institute at the W. P. Carey School of Business, says semiconductor manufacturers making a home in the Grand Canyon State support Arizonans. “Every electronics manufacturing job accounts for another five or so jobs in

vendors and suppliers,” Hoffman says. “It’s a valuable asset for the state’s economy.” Earlier this year, the Senate passed the United States Innovation and Competition Act, which includes $52 billion to boost semiconductor manufacturing in the U.S. Hoffman sees this, and other national and state funding, as prudent investments that will deliver benefits to Arizonans. For Morton, the growth of the semiconductor industry in Phoenix underscores the importance of collaboration between the university and industry driven by organizations such as ASU’s Knowledge Enterprise. It’s critical that the R&D Sun Devils do in the lab makes its way into the real world so that new technologies don’t get trapped in the so-called “valley of death,” the gap between academic innovation and commercial application. “We don’t want to just do research, we want to disseminate research and implement it to have an impact on the world,” Morton says. “This is at the heart of the mission of ASU: research of public value and service to our communities. This is what we do. This is primary.”

METRO PHOENIX SEMICONDUCTOR INDUSTRY Greater Phoenix has been a leader regarding top cities for semiconductor companies since 1949 when Motorola first opened a facility in the region. Today, many industry leaders call Greater Phoenix home. These established manufacturers have created a legacy of innovation in Greater Phoenix, fostering the region’s skilled engineering workforce and developing the semiconductor industry’s cutting-edge technologies: • Intel Corporation • ON Semiconductor • NXP Semiconductors • Microchip Technology. Coming soon: In 2020, Taiwan Semiconductor Manufacturing Company (TSMC) paid $89 million for 1,129 acres of undeveloped land in North Phoenix with plans to build a $12 billion chipmaking facility that would create 1,900 full-time jobs over a five-year period. In May 2021, a report said TSMC is looking at building up to five additional fabrication facilities for its Arizona site. The new plan will be a $35 billion investment in advanced manufacturing — almost three times larger than the initial estimate.

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AZBusiness January/February 2022

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