Phoenix Biomedical Campus has $1.3 billion economic impact, report says

December 19, 2014

By hammersmith

The Phoenix Biomedical Campus in downtown Phoenix had a $1.3 billion economic impact in 2013, with $961 million of that amount attributed to the University of Arizona College of Medicine-Phoenix, according to a Tripp-Umbach study released in December.

In 2013, the campus accounted for 9,355 direct and indirect jobs, while the UA College of Medicine-Phoenix was responsible for 7,185 of those jobs. In addition, the campus generated more than $56.5 million in state and local government revenues in 2013, with $44.5 million of that total attributable to the medical school.

The UA College of Medicine-Phoenix admitted its inaugural class in 2007 and now has 301 students training to be physicians.  The Health Sciences Education Building opened in 2012, which houses health education for both UA and Northern Arizona University. The campus also includes Translational Genomics Research Institute and International Genomics Consortium and features two major projects under construction—the UA Cancer Center at Dignity Health St. Joseph’s and the Biosciences Partnership Building.

The report estimates that the 28-acre medical campus will have a $3.1 billion economic impact by 2025. The report was commissioned by the UA College of Medicine-Phoenix and the city of Phoenix.

For more information:

Phoenix Biomedical Campus creating plenty of jobs, revenue in Valley,” KTAR, 12/15/14

Study: Economic impact of Phoenix Biomedical Campus exceeds $1 billion,” Phoenix Business Journal, 12/12/14

Economic Impact of Downtown Phoenix UA Campus Hits $961M,” UA News, 12/12/14