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Investigates the impact of the operations of the tenants at the ASU Research Park on employment and income. The 2016 impact in Arizona was 16,160 jobs, $865 million in labor income, and $1,418 million in total income.
After completing his undergraduate degree in economics at Wake Forest University, Kent received his Ph.D. in economics from Rice University in 1979. He was an assistant professor at ASU from 1978 to 1983. After leaving the university for seven years, during which he worked in the research department of the Federal Reserve Bank of Dallas, he returned to ASU to teach in 1991. He joined ASU’s L. William Seidman Research Institute in 1999.
An update to the November 2022 paper that presented data through 2021, estimates are presented of the number of ASU graduates working in Arizona, as well as their average wage, aggregate wages, and tax payments. Estimates are made for each year from 2012 through 2022.
The spending of Arizona State University and its employees, students, and visitors in fiscal year 2023 had the following direct, indirect, and induced impacts on the Arizona economy: gross product of $5.75 billion, labor income of $3.58 billion, and employment of 56,930.
Since the early 1990s, the Arizona Legislature has repeatedly reduced tax rates and narrowed tax bases of revenue sources used by state government — particularly of those sources providing revenue to the general fund. The tax reductions usually were passed with the…