Arizona public universities produce $11.1 billion in economic impact
PHOENIX — The state’s public universities provided 84,000 jobs and made an economic impact of more than $11.1 billion in 2017, according to a new analysis.
The economic impact is equivalent to 14 Super Bowls or 35 Fiesta Bowls, according to a press release from the Arizona Board of Regents.
The study was performed by Elliot D. Pollack & Co. and the Maguire Company and examined Arizona State University, Northern Arizona University and the University of Arizona.
The economic and fiscal impacts were calculated including the universities’ operations, research activities and spending by students, employees and the university.
“Through education, research and service, Arizona’s public universities are fueling the state’s economy,” ABOR Executive Director John Arnold said.
“The universities are also major employers in the state and spark significant business development, both of which contribute to the expansion of the state’s tax base.”
The report found that public university students spend an estimated $2 billion on housing, utilities and groceries, supporting nearly 20,000 jobs.
Spending by university faculty and staff supported 11,000 jobs and made an economic impact of $1.7 billion, according to the analysis.
University research at ASU, NAU and UA created an economic impact of over $2 billion.
Additionally, the universities’ annual operations generated an estimated $451 million in tax revenue.