Phoenix is now America's fifth-largest city — a sophisticated, urban region of more than 1.4 million people with a marketplace valued at more than $50 billion. Downtown Phoenix has received about 5 billion dollars of public and private investment over the past decade. Phoenix is located in the heart of the fastest growing and most dynamic metropolitan area in the country with a population of over 4 million people. Phoenix has a population of 1.6 million and is the fifth largest city in the United States, forecast to be at least #4 by 2020.