Higher education could bring Arizona $11.1 billion in economic gains, report finds

Arizona could gain an estimated $11.1 billion if 60% of its 2026 high school graduates earn a certificate or degree, according to a new report from the Helios Education Foundation.

The “Billions in the Balance” report also finds that earnings climb with each level of education. An Arizonan with some college but no degree earns an average of $217,000 over a lifetime, while someone with a bachelor’s degree earns an average of $1.1 million, according to Helios.

Paul Luna, president of the Helios Education Foundation, said encouraging Arizonans to pursue a postsecondary experience also allows employers to access those skills in the future.

“Student success should be intentional, not accidental. Reaching our attainment goal will require us to be intentional about the systems, the policies, investments that help students enroll, persist and complete and move successfully into the workforce,” he said.

The report focuses on two major industries in the state: health care and manufacturing. It shows that both fields require some form of postsecondary education, with degrees and professional certificates needed for health care and certificates and workforce credentials needed for manufacturing. Both sectors will also require at least a 20% increase in their workforces to meet industry needs in Arizona.

Arizona’s higher education goal remains unmet

The report coincides with the statewide Achieve60AZ initiative, which was created in 2016 with the goal of reaching 60% postsecondary attainment by 2030.

About half of Arizona adults ages 25 to 64 hold a college degree or an active professional certificate or license, according to Education Forward Arizona.

Rich Nickel, president and CEO of Education Forward Arizona, said Arizona needs to develop its own workforce to keep pace with the state’s economic growth.

“The new report … confirms Arizona does not need to choose between education and workforce development or reduce education only to workforce development. It actually needs to connect them more intentionally than is being done today,” he said.

Funding for this journalism is made possible by the Arizona Local News Foundation.

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