Tucson Standard

The University of Arizona Center for Innovation (UACI) has significantly contributed to the regional economy, generating an economic output of $664.8 million between 2021 and 2023. This information comes from a report by Rounds Consulting Group, an independent public policy and economics advising firm.

UACI is part of Tech Parks Arizona in the Office of Research, Innovation & Impact at the University of Arizona. It serves as a business incubator network supporting science and technology startups in Southern Arizona and beyond.

"Supporting the growth of new businesses is a cornerstone of Southern Arizona's economic development strategy," stated Carol Stewart, vice president of Tech Parks Arizona. "By empowering startups, we create a ripple effect of economic growth that extends across the region. UACI's strategic, results-driven approach is already delivering measurable success, strengthening our economy for the future."

The reported economic output includes both direct and indirect impacts from multiple incubator locations such as Oro Valley, Sahuarita, Sierra Vista, and Biosphere 2. These impacts are driven by entrepreneurs participating in UACI programs who purchase services locally, hire talent, and spend money within the community.

"UACI is a powerful driver of economic growth in Southern Arizona," said Casey Carrillo, executive director of UACI. "By fostering innovation and supporting entrepreneurs, we are not only launching successful companies but also creating high-quality jobs and attracting investment that strengthens our regional economy."

Startups affiliated with UACI have made significant contributions to state and local taxes totaling $19.1 million from 2021 to 2023 while creating 886 jobs during this period. Furthermore, 41% of these startups involved University of Arizona alumni or technology derived from university research.

"The University of Arizona has built a dynamic innovation ecosystem where pioneering research, entrepreneurship and economic growth converge," remarked Tomás Díaz de la Rubia, senior vice president for research and innovation at UArizona. "Through Tech Launch Arizona...we provide founders the mentorship and infrastructure to launch and scale their businesses."

UACI supported various industries over this time: healthcare (39%), climate technology (24%), hardware/engineering (17%), software/AI/mobile applications (16%), imaging (4%). The report also reviewed UACI's lifetime impact on more than 1,500 entrepreneurs through workshops and training sessions leading to over $180 million in capital investment funding for more than 300 startups.