National Economic Development Week is wrapping up, but what isn’t ending this week is ASU’s commitment to helping businesses thrive in Arizona and contribute to the state’s economy.
ASU’s Economic Development team works to help businesses succeed in our pro-business state by positioning them within reach of talented people and a multitude of resources at ASU and across the Valley. And it seems to be working.
Aric Bopp, executive director of ASU’s Economic Development team, said this week that more than 55% of ASU graduates stay in Arizona to begin their careers. Almost a quarter of a million graduates worked here in 2018, and earned about $15.9 billion. They paid roughly $1.13 billion in state and local taxes. The total economic impact of ASU’s operations for FY19 totaled $4 billion.
ASU prides itself on being “#1 in innovation” for several years running. The university houses seven “Innovation Zones,” which are collaborative environments where companies can embed themselves and benefit from access to student talent and faculty at one of the top research institutions in the country, as well as other businesses within each Innovation Zone.
The seven zones are the Phoenix Biomedical Campus, Arizona Health Solutions Corridor, ASU Polytechnic campus, SkySong (the ASU Scottsdale Innovation Center), ASU Research Park, ASU West campus, and the Novus Innovation Corridor.
Bopp also said that ASU provides flexible options to companies who work in the Innovation Zones, with the understanding that these businesses will experience cycles of growth and expansion.
That’s what ASU wants. Again, that growth would contribute billions to the state economy and further support ASU’s commitment to being socially and economically responsible to the communities it serves.
The Economic Development team is also working to create an environment that produces a talented, educated and skilled workforce that can assist in advancing industries of the future.