The University of Arizona is back in session but the overall economic impact is much larger than students alone. We’re talking about a footprint of more than four billion dollars.
TUCSON, Ariz. — 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.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.”A study released in 2019 estimates the overall impact at $4.1 Billion dollars a yearA billion dollar impact from UArizona research, counting jobs, supplies, equipment and the value of the research discoveries.
“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.”Craig Smith is a reporter for KGUN 9.
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