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University startups contribute billions to state economy

Posted at 5:59 AM, Feb 09, 2018
and last updated 2018-02-09 19:29:53-05

The Arizona Board of Regents reports the three state universities are contributing billions of dollars to the Arizona economy and creating thousands of jobs each year. 

The UA is contributing greatly to that partially through its startup engine Tech Launch Arizona.

In the last five years, 55 new companies have been launched. Fifty-three of those companies are still in business. Last year, those companies represented 780 jobs and generated about $32 million in revenue for our local economy.

Fourteen of the startup companies already have products and services on the market.

Tech Launch Arizona says when its start-up companies succeed, it only helps bring more companies back to Tucson and expand the growing science-based industry here.

Tech Launch Arizona says Tucson is such a great place to start a company not only for the resources that the university provides but also for the support from the city of Tucson.