Employment & Economic Impact
ASU is one of the largest employers in the state of Arizona, with over 18,500 employees. It provides numerous job opportunities for faculty, staff, and researchers across various disciplines, contributing to local employment rates, being that 90% of undergraduates are employed, and 80% for masters graduates after 6 months.
Direct Economic Impact:
The university’s operations, including faculty and staff salaries, procurement of goods and services, and capital investments generate a significant economic impact in the region. This includes the infusion of funds into the local economy through salaries and spending by students, faculty, and staff. Tempe, for example, collected around 167 million dollars from ASU via tax.
Research and Innovation:
ASU’s research activities drive innovation, technology transfer, and the commercialization of intellectual property. This contributes to the growth of industries and businesses in the region, fostering economic development and attracting investment.
Entrepreneurship and Startups:
ASU has a strong emphasis on entrepreneurship and supports the development of startups. Initiatives such as business incubators, accelerators, and entrepreneurship programs encourage the creation of new businesses and stimulate the local entrepreneurial ecosystem.
Collaborations with Industry:
ASU actively engages with industry partners, including corporations, government agencies, and nonprofit organizations. These partnerships facilitate research collaborations, internships, workforce development programs, and technology transfer, strengthening ties between academia and industry.
ASU has developed targeted initiatives in various industries, such as healthcare, engineering, sustainability, cybersecurity, and more. These initiatives aim to address industry challenges, provide specialized training and research, and promote economic growth in specific sectors.
Innovation Zones and Research Parks
ASU Research Park:
ASU operates a research park, which serves as a hub for research, technology development, and collaboration with industry partners. The park provides space for companies to establish offices, labs, and facilities in close proximity to ASU’s resources and expertise.
ASU has designated innovation zones that focus on specific areas of research and development. These zones bring together researchers, students, and industry partners to drive innovation, create new technologies, and foster economic growth.
Student Entrepreneurship and Engagement
ASU offers entrepreneurship programs, courses, and resources to empower students with the skills and knowledge needed to start their own businesses. These initiatives encourage student entrepreneurship and contribute to the local entrepreneurial ecosystem.
ASU encourages students to engage with the local community through service-learning programs, internships, and community partnerships. This involvement strengthens the connection between ASU and the local economy, fostering economic development and addressing community needs.