Arizona’s assertive support of innovation has made it a hot spot for startups. Fast Company ranked it No. 1 in the country for “entrepreneurial activity.” Large tech companies are drawn to the business-friendly state, too. In 2017, Intel announced a $7 billion investment to complete a semiconductor factory there. Thanks in part to its thriving job market and relatively low cost of living, the Grand Canyon State’s population is booming, tying with Florida for the fifth highest increase in the nation in 2017. Young people (ages 25-29) in particular are moving to the state in large numbers, and U.S. News & World Report named Phoenix one of the best cities for young professionals. Roofstock currently operates in the Phoenix investment property market.