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Compares the actual economic impact of ASU graduates working in Arizona to the impact in three hypothetical scenarios, each of which assumes the rate of growth in the number of individuals graduating from ASU was less than the actual number.
Dennis received a B.A. in economics and mathematics from Grand Valley State University, a M.S. in economics from Michigan State University, and a Ph.D. in economics from Michigan State University in 1978. He has served on the faculty of the Department of Economics at ASU since 1979, as director of ASU’s L. William Seidman Research Institute since 2004, and as the director of the Office of the University Economist since 2005.
Eva received her B.S. in finance from Babes-Bolyai University in Romania, a M.S. in business management from Politehnica University in Romania, and a M.A. in economics from Western Michigan University in 2000. She worked as a research analyst at the W. E. Upjohn Institute in Kalamazoo, Michigan prior to joining ASU’s L. William Seidman Research Institute in 2007.
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…