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New Economy Initiative Aims for More Jobs and Boosted Business

New Economy Initiative Aims for More Jobs and Boosted Business
The New Economy Initiative in Arizona has the goal to create 40,000 new high-wage jobs by 2041. Also to increase the economic output to $6.9 billion by 2032 and then to double the return on the state's investment by the same year. It's been a generational trend that every schoolchild has learned that the state's economy was based on the five Cs: cattle, copper climate, and citrus.
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The New Economy Initiative in Arizona has the goal to create 40,000 new high-wage jobs by 2041. Also to increase the economic output to $6.9 billion by 2032. Then double the return on the state’s investment by the same year. It’s been a generational trend that every schoolchild has learned. That being the state’s economy was based on the five Cs: cattle, copper climate, and citrus. These industries worked well for the Grand Canyon state during the first hundred years. But now the 21st century does require coders and engineers for Arizona. It would be to stay competitive. Also to be resilient through the type of shocks the past 20 years have dealt.

New Economy Initiative For Universities

In fact, Governor Doug Ducey and the state Legislature does have funded a plan for the state’s three universities. It would be to develop a joint, coordinated response. That would be to attract the high-tech industry, drive job creation, and makes Arizona families be prosperous.

The endgame is to move away from Arizona’s economy away from housing growth and tourism. It does have something which is resilient to the economic downturns. Plus the pandemics and then whatever else the 21st century has in store.

“Also, all of us, the citizens of the state, the Legislature, the governor, chambers of commerce we have to do something. Then we have to do something which is collective,” said Sally C. Morton. Morton is the executive vice president of Arizona State University’s Knowledge Enterprise.

The university’s research priorities, Morton has advanced, do also drive corporate engagement, economic development, global initiatives and strategic partnerships, and technology transfer on behalf of the university.

“Also, the state universities should, in fact, play a central role in this,” she said.

Distinct Roles to Play

Also, each university has been given specific roles to play. Thus role does align with their traditional strengths. The regional Arizona university is going to expand its capacity thereby addressing health care worker shortages in nursing, allied health, and mental health education programs. In fact, the University of Arizona is going to launch its “One Health” initiative. It will leverage the university’s medical, veterinary, engineering, and cooperative extension programs to actually address community and health care needs across the state.

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