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Arizona, with its capital and largest city being Phoenix, was admitted to the Union as the 48th state on February 14, 1912. As of the latest official estimates from the U.S. Small Business Administration, the state is home to approximately 678,357 small businesses, defined as firms with fewer than 500 employees, representing a significant pillar of its economy. Historically, population figures for the year ending July 1, 2006, indicated that Arizona was the fastest-growing state in America at that time, surpassing the previous leader, Nevada. In more recent years, Arizona's population has continued to expand, reaching an estimated 7,582,384 as of July 1, 2024, reflecting a growth rate of about 1.46% from the prior year—placing it among the nation's steadily expanding states, though not the absolute fastest.
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