Prescott, Arizona


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Prescott Arizona Economy Information

Prepared by the Arizona Department of Commerce

Prescott is located in central Arizona amid the largest strand of Ponderosa Pine in the world. Since Prescott's founding as the first territorial Capital of Arizona and the  establishment of nearby Fort Whipple, government has been a dominant sector in the city's economy. Prescott is the headquarters of the Prescott National Forest and is the Yavapai County seat. The city is named in honor of William Hickling Prescott, a noted historian.

 

FOUNDED: 1864

COUNTY: Yavapai County

ELEVATION: 5,400 Feet

INCORPORATED: Yes, 1883

HIGHWAYS: I-17, SR 89,69

DISTANCE TO PHOENIX: 102 miles

DISTANCE TO TUCSON: 213 miles

DISTANCE TO LAS VEGAS: 251 miles

DISTANCE TO LOS ANGELES: 379 miles

DISTANCE TO FLAGSTAFF: 95 miles

 
Population
  1990 1998 1999
Prescott 26,5592 34,610 35,785
Yavapai County 107,714 148,500 155,900
Arizona 3,665,228 4,764025 4,924,350
Sources: Arizona Dept of Economic Security & U.S. Census Bureau

 

Principal Economic Activities
Prescott is the center for trade in the region, with abundant retail establishments, professional services and manufacturing plants. Yavapai Regional Medical Center & Veterans Administration Hospital provide excellent diagnostic emergency and treatment centers. Travel and tourism, cultural institutions and government offices are important to Prescott's economy. Prescott National Forest, area lakes, and established trail and park systems provide numerous outdoor activities for residents and visitors.
County Employment 1990 1999
Agricultural, Forestry  Fishing 169  
Construction 2368 4325
FIRE 1375 2125
Manufacturing 2490 3250
Mining 843 925
Retail Trade 7548  
Services 8277 14,225
TCPU 1044 1375
Trade   12874
Source: Az. Dept of Economic Security and U.S. Census Bureau
 
Major Private Employers
1. Wal-Mart
2. Embry-Riddle Aeronautical Univ.
3. Phelp-Dodge Bagdad Copper
4. Sturm Ruger & Company
5. Yavapai Regional Medical Center
Major Public Employers
1. State of Arizona
2. City of Prescott
3. Prescott Unified School District
4. Veterans Administration Medical Center

5. Yavapai County

 

 

 

Labor Force Data
  1990 1998 1999
Civilian Labor Force 11,412 16,650 17,121
Unemployment 583 622 647
Unemployment Rate 5.1% 3.7% 3.8%
Sources: Arizona Department of Economic Security
 
Growth Indicators 1990 1998 1999
New Building Permits 511 948 1068
Taxable Sales ($) $380m $658m $717m
Net Assessed Valuation ($) $139m $244m $278m
Sources: Ariz State Univ, Arizona Dept of Revenue
 

 

Scenic Attractions
Prescott is rich in historic and scenic attractions. Sharlot Hall Museum and the Smoki Museum contain pioneer and Indian artifacts. Nearby recreational opportunities include: Thumb Butte, Prescott's outstanding landmark; scenic drives, such as the Senator Highway, and the Prescott national Forest, which contains more than 1.2 million acres of land. A number of lakes are within the vicinity, including Lynx, Granite Basin, Watson, Willow and Goldwater. Major annual events include Territorial Days, Bluegrass Festival, and All-Indian Pow-Wow in June; The Prescott Frontier Days Rodeo and Celebration on the Fourth of July; The Phippen Western Art Show on Memorial Day weekend; The County Fair and the Faire on the Square in September; and the Christmas Parade and Courthouse Lighting in December.


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