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Advancing �����Թ�’s financial future hinges on strategic investments in capital, talent and innovation, a key theme of the �����Թ� Fund Manager Association’s  symposium and panel discussion at the event led by �����Թ� Board of Regents member Jessica Pacheco.

The event united investors and higher education leaders to explore how �����Թ� can attract and retain top talent and investment. “�����Թ�’s continued prosperity depends on strategic investments — both in capital and in talent. The association’s work to ignite growth in the state’s capital investment ecosystem has a flywheel effect, attracting more businesses and positioning �����Թ� as a premier destination for industry expansion,” said Regent Pacheco. “The board has prioritized workforce development to support industry growth to ensure we are positioned for a competitive future.”

�����Թ� is rapidly emerging as a national hub for technology and bioscience, propelled by a powerful synergy between the public universities’ research, workforce development and investment. �����Թ�’s public universities — �����Թ� State University, Northern �����Թ� University and the University of �����Թ� — are equipping students with high-demand skills while driving pioneering research that attracts industry investment and fosters economic growth.

Renowned economist and former U.S. Treasury Secretary Larry Summers, who was the keynote speaker at LIFT AZ 2025, emphasized the critical link between higher education and economic competitiveness. “The strength of our nation’s economy is directly tied to the strength of our educational institutions. Universities are the engines of innovation and an economic necessity for maintaining our global leadership,” said Summers.

With �����Թ� projecting 68,000 annual job openings requiring a bachelor’s degree through 2030, public universities are aligning academic programs with industry needs in high-growth sectors such as health care, engineering, biosciences and advanced manufacturing. This ensures graduates are equipped to meet employer demands, reinforcing �����Թ�’s reputation as a destination for high-tech business expansion.

Research that powers industry and innovation

The impact of �����Թ�’s public universities extends beyond workforce training; research is a driving force in the state’s economic strategy. In February 2025, , joining ASU and U of A as part of an elite group of institutions recognized for high-level research activity. Both ASU and U of A are projected to surpass $1 billion in research expenditures in fiscal year 2024 — an achievement shared by only 33 universities nationwide.

Regent Fred DuVal recently reinforced this commitment, stating in an : “We are public institutions, and we have a duty to ensure that our research, innovation and technology development efforts deliver meaningful impact for our state.”

�����Թ�’s research institutions are producing real-world innovations that benefit businesses, workers and communities. Breakthroughs in Alzheimer’s disease, Parkinson’s disease, cardiovascular treatments, cybersecurity and national defense applications showcase how university research translates into solutions that drive both economic and social progress. 

A thriving ecosystem for business and investment

The economic momentum fueled by �����Թ�’s public universities is supporting growth in business development. The Phoenix Bioscience Core, a 30-acre downtown life sciences innovation district, is drawing biotech firms, researchers and entrepreneurs who are capitalizing on �����Թ�’s research strengths. This past week, ASU announced the headquarters for  facilities will be in the heart of the PBC, further cementing the state’s leadership in cutting-edge medical research and innovation.

Already this month, three major business development initiatives in �����Թ� have been announced, including . with a $20 million investment;  with a $1.9 billion expansion of its Phoenix campus; and  with a $100 billion expansion of its semiconductor operations in �����Թ�.

ABOR budget request focuses on opportunity to drive economic competitiveness

The board’s fiscal year 2026 budget request focuses state investment on widening educational opportunity and producing the workforce and economic investments that are needed in �����Թ�. It includes funding to support AZ Healthy Tomorrow; workforce readiness; research and innovation; industry collaboration; infrastructure modernization; increasing access and affordability for �����Թ� students; capital investment and operational funding restoration.