The University of Arizona Science and Technology Park ranks 6th among university-related research parks in the United States in terms of occupancy and jobs, according to Vernon George, a nationally-recognized economic development consultant.
Hammer, Siler and George Associates, an economic development firm based in Maryland, conducted an assessment at the request of the University of Arizona. They compared the University's Science and Technology Park with 150 similar facilities across the nation.
"After only a short marketing period, The University of Arizona Science and Technology Park ranks among the most successful research parks in the nation," said George. "The park ranks in the top six both in total occupied space as well as in jobs provided for the local economy."
George adds that the Park's success is particularly notable due to its short history. "The other parks in this category have been in operation from 15 to 40 years," said George. The University of Arizona purchased its facility from IBM in August 1994.
The consultants also cited an unusually strong degree of collaboration between University personnel and the park's tenant companies. "University-park entity partnerships are a true test of a research park's bringing something totally new to the local economy," said George. "There are already important partnerships between park companies, large and small, and various faculty members at the University of Arizona. Our interviews with senior faculty confirm that there is a strong interest on the part of many of the best research-funded faculty to have an active role in the university-park activity."
The University of Arizona Science and Technology Park is home to 17 high technology companies, ranging from well-established giants, such as IBM, Keane and Raytheon, to small, new research and development companies. Together these companies provide more than 4,800 jobs and occupy more than 1.8 million square feet of research and office space at the park facility, located at 9000 S. Rita Road. The park contributes $700 million to the economy of Tucson and Pima County.