Tech Parks Arizona celebrates a powerful economic legacy, reporting a $2.6 billion annual economic impact. The figure comes from a newly released analysis of 2024 data, the organization’s milestone 30th anniversary year, and conducted by the independent research firm Rounds Consulting Group. Every five years, Tech Parks Arizona undertakes a comprehensive assessment of its three innovation hubs: the UA Tech Park at Rita Road, UA Tech Park at The Bridges and the University of Arizona Center for Innovation (UACI).
In 2024 alone, Tech Parks Arizona supported 15,857 jobs, generated $1.1 billion in labor income and contributed $84 million in state and local tax revenues. These outcomes reflect the combined direct, indirect and induced impacts of its innovation ecosystem, reinforcing its role as a driving force in Arizona’s knowledge-based economy.
“Our success is built on the power of people, place and programming,” said Carol Stewart, Vice President of the University of Arizona, CEO of Tech Parks Arizona. “We create connections that matter—linking entrepreneurs, researchers and industry partners to drive meaningful innovation. By providing purpose-built environments and tailored programs that help companies grow, we’re fostering a thriving community where business, research and talent come together to turn ideas into impact.”
Vickie Palmer, CEO of the Association of University Research Parks (AURP), shared, “Tech Parks Arizona stands among North America’s leading university research and technology parks, exemplifying the best practices in innovation-driven economic development. This newly released impact analysis reaffirms Tech Parks Arizona’s critical role as a national model—successfully linking academic research, industry collaboration and entrepreneurial growth to generate extraordinary economic outcomes. As a long-standing member of AURP, Tech Parks Arizona continues to raise the bar for what research parks can achieve.”
In alignment with the University of Arizona’s mission to ensure success for every student, Tech Parks Arizona plays a pivotal role in creating pathways from education to employment. Data collected from tenants of Tech Parks shows that 69% of knowledge workers within the parks are University of Arizona graduates, demonstrating a strong pipeline from classroom to career. Additionally, Tech Parks Arizona facilitates hundreds of internship opportunities annually, providing students with hands-on experience and direct access to industry leaders, further strengthening the university’s commitment to student success and workforce development.
Tech Parks Arizona hosts over 100 companies, ranging from innovative startups to industry-leading tech giants, across sectors such as aerospace and defense, software, optics, financial services and life sciences. As a major employment hub, the parks are home to 9,205 workers whose average annual wage of $75,600 exceeds the Tucson metro area average by more than $13,000—compared to $62,200.
These findings underscore the strength of Tech Parks Arizona’s ecosystem in connecting research, industry, and entrepreneurship. As a vital driver of regional innovation and economic growth, the parks continue to fuel long-term prosperity for the region.
Beyond the numbers, a recent perception study highlights the unique environment Tech Parks Arizona has cultivated, which supports businesses beyond traditional models.
The perception study identified the top recognized benefits as:
- Supporting startups through the University of Arizona Center for Innovation (UACI)
- Fostering a collaborative business and innovation community
- Connecting companies with university resources
The economic influence of Tech Parks Arizona extends well beyond the physical boundaries of its campuses. From supporting high-wage employment to strengthening supplier networks and generating critical public tax revenues, the ecosystem fostered by the parks underscores their role as a cornerstone of Southern Arizona’s growth and a vital contributor to the state’s long-term economic success.
“An IASP member since 2019, Tech Parks Arizona has been an active and valued part of our international network, which brings together 350 likeminded organizations across 80 countries. Tech Parks Arizona has actively contributed to the knowledge sharing and learning processes of innovation communities and peers worldwide, enriching the strategic goals of our global innovation community, “ shared Ebba Lund, CEO of International Association of Science Parks and Areas of Innovation (IASP).