The University of Arizona plans to convert a 2,100-acre agricultural research facility in Maricopa into an innovation center with a 300-acre research and technology park complete with a satellite educational campus and a 600-acre commercial building complex. Town centres, hospitals, residences, retail stores, hotels etc.
According to a report in Real Estate Daily, the university has the potential to generate $4 billion in annual economic output across the project, tens of thousands of jobs and $74 million in annual tax revenue in the first five years of operation. It is estimated that there will be. A $400,000 grant from the U.S. Economic Development Administration supported research for this project.
Construction on the project is not expected to begin until at least spring 2025.
University A’s project is adjacent to a planned industrial park. Ledevco plans a 1,000-acre business park adjacent to double-track railroad tracks. The initial investment for this project will be $1.4 billion. The park is expected to have a built-up area of 12 million square feet.
