The business and financial services industry is composed of finance and insurance and professional & business services, which includes data centers and computer systems design and related services.

There are about 28,000 establishments in the business and financial services industry, paying total annual wages of nearly $26.5 billion. (Emsi 2017.2 QCEW and non-QCEW)

Arizona’s strengths include data centers and other mission-critical functions, customer service and support, financial services, insurance and cybersecurity.

The business and financial services industry is one of the largest in Arizona, accounting for an estimated 430,965 employees. (Emsi 2017.2 QCEW and non-QCEW)

The average annual wage for the business and financial services industry is $61,500. (Emsi 2017.2 QCEW and non-QCEW)

Largest employers in the business and financial services sector include: Wells Fargo (15,000), JPMorgan Chase (10,300), Bank of America (10,000), American Express (7,300), UnitedHealthcare (7,000), State Farm (6,300), USAA (3,800), GoDaddy (3,500) and Charles Schwab (3,300). (azcentral.com, 2017)

Arizona is home to three of the top ten data center operators (Digital Realty, Level 3, 365 Data Centers) in North America, EMEA, Oceania and Asia. (Cloudscene, 2017)

State Farm employs 6,300 in Arizona and is the largest insurer in the US, by premiums written and market share. (Insurance Business America, 2016; azcenteral.com, 2017)

Western Alliance Bancorporation, headquartered in Phoenix, was ranked fourth on Forbes America's 100 Best Large Banks list. (Forbes, 2017)

JPMorgan Chase and Wells Fargo, which together employ 25,300 people in Arizona, are the largest and third-largest U.S. banks in total assets. (Forbes, 2017)

JPMorgan Chase & Co. America's largest bank with assets of more than $2.5 trillion is developing a new 67-acre campus in Tempe. (Forbes & Phoenix Business Journal, 2017)

Digital Realty, one of the largest operators of colocation data centers in Phoenix, collectively has nearly one million square feet of data center properties spread over four locations. (Digital Realty, 2017)

At 412,000 square feet of data center space, IO Data Center's Phoenix location is one of the largest multi-tenant data centers on the West Coast with more than 65.5MW of core power. (IO, 2017)

IO Data Center manufactures its IO.Anywhere® modular data centers in Arizona. The modules allow the user to flexibly deliver standard and secure increments of power, cooling, and IT capacity on a just-in-time basis. (IO, 2017)

There were 75,466 workers in Arizona’s technology and innovation sector in 2016. (Emsi 2017.2 QCEW and non-QCEW)

Arizona was home to an estimated 5,760 technology and innovation business establishments in 2016, accounting for an estimated 2.7% of the overall state workforce, with total tech employment growing 14% from 2012 to 2016. (Emsi 2017.2 QCEW and non-QCEW)

Arizona's average annual tech industry wage of $103,843 is 115% higher than the average state wage. (Emsi 2017.2 QCEW and non-QCEW)

Edward Jones has operated a corporate data center in Arizona since 2000, which has resulted in the relocation of the company’s national training center and regional headquarters to the Phoenix metropolitan area.