SkySong economic impact: $113.6M

January 18, 2011

By hammersmith

[From Arizona Republic]

The Greater Phoenix Economic Council has released a study of the economic impact of SkySong, Arizona State University’s initiative to turn new innovations into successful business and nurture young companies with bright futures in technology-intensive sectors. The study puts SkySong’s economic impact at $113.6 million annually.

According to a recent GPEC study, companies located within the project have created 733 jobs to date and more than 1,000 direct and indirect jobs overall. The study estimates more than 5,000 jobs will be generated by SkySong with a total economic impact of $9.2 billion when it reaches the 30-year mark of its operation.

Many of those jobs are tech positions that appeal to Arizona as it aims to lure employers in the renewable-energy, technology and bioscience industries to boost economic growth. During the recent recession, Arizona shed jobs faster than any state but Michigan, according to federal reports.

Read more at the source: “SkySong’s impact is put at $113.6 million