Pinal Central featured Shelby Stults' op-ed outlining how an investment in advanced energy technology could spur dramatic improvements to Arizona’s employment picture. Read snippets below and the full article here.
Arizona lost 331,000 jobs in the COVID-19 recession, but as of this month, we have gained most of those jobs back. However, Arizona is not out of the desert yet. The state is still down tens of thousands of jobs since last year, and with a median income for individuals hovering around $30,000 per year, there is a persistent need for better-paying jobs that can support families.
Recently, our business association, Advanced Energy Economy, published an economic analysis finding dramatic improvements in Arizona’s employment picture are possible if we make a serious investment in advanced energy technology.
In short, an investment of $15 billion into advanced energy technology in Arizona would produce:
- Over $200 billion added to the Arizona economy — a 14-to-1 return on investment;
- Over 1.3 million new jobs, a mix of short-term construction or installation jobs plus more ongoing positions;
- Over $10 billion of additional tax revenue to local and state governments; and
- Over $11 billion in annual consumer savings.
Read the full story and the complete benefits for Arizona here.