The State of Arizona is in a unique position to become a national center for advanced health care research, teaching, and clinical care through the development of the Phoenix Biomedical Campus. Such a campus incorporates the existing strengths of the University of Arizona College of Medicine – Phoenix, Arizona State University’s Bioinformatics Program, Northern Arizona University, Translational Genomics Research Institute (TGen), the National Institutes of Diabetes and Digestive and Kidney Diseases (NIDDK), and existing Phoenix-area health care systems.
In May 2005, Tripp Umbach was retained to quantify the potential range of economic impact of the Phoenix Biomedical Campus on the State of Arizona, Maricopa County and the City of Phoenix. In 2014, Tripp Umbach was once again retained to measure the economic impacts of the Phoenix Biomedical Campus.
Both analyses included the economic, employment, and government revenue impacts that the Phoenix Biomedical Campus would have on the areas in which they operate. Tripp Umbach concluded that the Phoenix Biomedical Campus would become an important economic engine for the entire State of Arizona. It would also serve as a magnet in downtown Phoenix for local, regional, national, and international healthcare research and clinical organizations, as well as foster the development of biomedical start-ups. With current projections, at full build-out the Phoenix Biomedical Campus is anticipated to generate an economic impact of $3.1 billion annually.