WPCCRUNCHING THE NUMBERS

Fueling Arizona’s future

Report reveals ASU is a major economic engine — driving Arizona’s growth through investment, research, spinoffs, alum earnings, and more.
Arizona State University isn’t just educating the next generation — it’s powering the state’s economy. A 2025 report from ASU’s Office of the University Economist reveals that the university contributes $6.1 billion annually to Arizona’s gross domestic product through its operations and construction — the equivalent of eight Super Bowls yearly.
maroon super bowl trophy graphic beside the text “8x”
maroon Arizona state graphic
$32 billion
When you factor in alum wages, research, and business ventures tied to the university, the total economic impact swells to an estimated $32 billion.

“The Super Bowl has a big impact on Arizona’s economy,” says Office Director Dennis Hoffman. “ASU delivers about eight times that impact every year, using GDP as the basis for comparison.”

headshot of Dennis Hoffman

Research expenditures

ASU is one of the fastest-growing research enterprises in the United States, increasing its research expenditures more than sevenfold since 2002.

According to the National Science Foundation’s Higher Education Research and Development annual survey, ASU’s total research expenditures for fiscal year 2023 were nearly $904 million.

ASU ranked No. 21 among all U.S. public institutions, ahead of the University of California, Irvine; Rutgers University; and Virginia Tech.

The university’s 34% growth rate in the past two fiscal years was among the largest of the top 50 research universities in the country, and all signs point to it continuing to rise.

bar graph illustrating ASU research expenditures

Research expenditures

ASU is one of the fastest-growing research enterprises in the United States, increasing its research expenditures more than sevenfold since 2002.

According to the National Science Foundation’s Higher Education Research and Development annual survey, ASU’s total research expenditures for fiscal year 2023 were nearly $904 million.

ASU ranked No. 21 among all U.S. public institutions, ahead of the University of California, Irvine; Rutgers University; and Virginia Tech.

The university’s 34% growth rate in the past two fiscal years was among the largest of the top 50 research universities in the country, and all signs point to it continuing to rise.

bar graph illustrating ASU research expenditures

The university’s reach goes far beyond
its campuses:

ASU grads working in Arizona earned $24.1 billion in 2023, contributing $1.8 billion in state and local taxes.
graphic of a group of figures
56,000
maroon briefcase
jobs are tied to ASU’s operations and student spending.
headshot of Lisa VanBockern
University spinouts such as Swift Coat and alum-led businesses such as Skin Script — founded by Lisa VanBockern (BS Accountancy/Computer Information Systems ’98) — create jobs, drive small business growth, and strengthen Arizona’s economy.
Meanwhile, ASU’s research enterprise is approaching $1 billion in annual funding, placing it among the top research universities nationwide, without yet having a medical school. Major initiatives, including the Novus Innovation Corridor and semiconductor partnerships, are shaping Arizona into a global tech hub.

With more than 150 capital projects completed last year — and $600 million in new construction underway in 2025 — ASU continues to expand its impact on Arizona’s economy through strategic investments and statewide initiatives.

ASU’s impact reaches every corner of Arizona.
Here’s how it adds up:

forks up hand icon
$24.1 billion
in wages for ASU graduates working in Arizona

$1.7 billion

estimated nontuition spending of ASU students
$6.1 billion
ASU’s annual operational expenditures contribution to Arizona’s gross domestic product

more than 1 in 4

working Arizonans with at least a bachelor’s degree earned it from ASU
Back to Issue