TUCSON, Ariz. (KGUN) — The University of Arizona is back in session and naturally that’s good for the businesses near UA but the overall economic impact is much larger than that. We’re talking about a footprint of more than four billion dollars.
The students and their spending are the obvious part of UArizona’s financial boost.
Shops along Main Gate Square are busier than they’ve been in months.
On Park, next to a large student apartment building, Matthew Taylor says permit delays kept his new business Screwbean Coffee and Brewing from opening until just as the summer slowdown began. But now, he says his business is way up.
“Oh, we're hoping for our numbers to double, which is what it looks like they're doing this week anyway. We've got 600 students who live right across the street in the apartment building. So it's just massive for us.”
Studies help us measure the broader part of UArizona’s economic footprint.
A study released in 2019 estimates the overall impact at $4.1 Billion dollars a year
Here’s just part of the breakdown:
A billion dollar impact from UArizona research, counting jobs, supplies, equipment and the value of the research discoveries.
$779.1 Million from students and almost 5,200 jobs related to them and their needs.
About 15,000 faculty and staff added more than 701 Million to the economy with their purchases
Sports and other university events bring in visitors and spending that add 60.5 million dollars.
Incoming freshman Jillian Howayek grew up in Tucson and understands the variety UArizona injects into the economy.
“I know that our science programs are really big. For example, our space program is one of our big things. We have a medical school. Those things are huge. Those bring a lot of people and they invest a lot in the economy and they bring besides tourism, research and recognition across the country.”
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Craig Smith is a reporter for KGUN 9. With more than 40 years of reporting in cities like Tampa, Houston and Austin, Craig has covered more than 40 Space Shuttle launches and covered historic hurricanes like Katrina, Ivan, Andrew and Hugo. Share your story ideas and important issues with Craig by emailing craig.smith@kgun9.com or by connecting on Facebook and Twitter.
