New Study shows that the UA Tech Park has a Significant Impact on the Region
Tech Parks Arizona has released a new study documenting the economic impact of the University of Arizona Science and Technology Park (UA Tech Park).
The report indicates that the UA Tech Park and its resident companies have an annual economic impact of $2.0 billion.
UA Tech Park tenants generated $51.5 million in state and local taxes in 2017.
The study also reflects that the UA Tech Park is a center for high wage jobs. The average wage of a worker at a UA Tech Park tenant is $74,028, which is significantly more than the Pima County average of $47,327. In 2017, park companies paid $465.3 million in direct wages to their employees.
The UA Tech Park remains one of the largest employment centers in the region hosting 52 companies and organizations that employ 5,870 skilled workers from 15 different industries.
Bi-annually, UA Tech Park tenants are surveyed to quantify the impact that their operations have on the state and regional economy. The current study, authored by independent consultant, Dr. Vera Pavlakovich-Kochi, analyzes the economic and tax revenue impact of the UA Tech Park in Pima County for the calendar year 2017.
The full report can be accessed online at https://techparks.arizona.edu/parks/ua-tech-park/economic-impact
For nearly twenty-five years, Tech Parks Arizona has helped to advance University of Arizona technology innovation and commercialization through the UA Tech Park. In doing so, it has contributed in significant ways to the economic development of Southern Arizona and the Tucson metropolitan area. The Park’s contribution to the region extends far beyond the number of tenants, wages paid or tax revenue generated. Its primary impact is helping to advance new technology that expands and diversifies the local and state economies.
Tech Parks Arizona
Tech Parks Arizona creates the interactive ground that generates, attracts and retains technology companies and talent in alignment with the research, mission and goals of the University of Arizona. Tech Parks Arizona directs the UA Tech Park, the UA Tech Park at The Bridges and the Arizona Center for Innovation, placing the highest priority on recruiting companies desiring connectivity to the UA.
