Falcon Photography
Falcon Photography
Arizona could benefit from the growth of autonomous vehicle (AV) technology, bringing more than $4 billion in economic growth, according to the Arizona Chamber Foundation.
It is suggested that autonomous vehicles, or self-driving technology, will make transportation cheaper, safer, and faster.
“Autonomous vehicle technology and testing has been growing in Arizona because of a strategic effort by the governor and other state and local lawmakers,” Jim Rounds, an analyst, told Chamber Business News. “When new technology is being developed such as AV, those early entries into the development process tend to earn a higher share of future economic activity.”
An analysis conducted by Rounds and Rounds Consulting Group found that because of the AV technology sector's continued investment, building and growth, Arizona stands to increase its tax collections by $500 million by 2030. He said this is a conservative estimate.
“We calculated the impact of the autonomous vehicle industry in Arizona using various models and assumptions, and any way you cut it, it’s clear that Arizona’s policies have positioned our state to reap a disproportionate share of the benefit from this growing industry,” Rounds said.
Arizona Gov. Doug Ducey has been instrumental in welcoming AV research, development and manufacturing in the state. According to the Arizona Commerce Authority, Arizona is the first state to pass an executive order authorizing the testing and operation of self-driving vehicles, and the first state to launch a self-driving taxi service. More than a dozen companies across the state are testing driverless vehicles. Ducey also signed an order to create the Institute of Advanced Mobility, a group made up of public and private businesses and government officials that discuses advances in the automated vehicle technology industry.
The Arizona Chamber Foundation reported that investing just over $6 billion dollars in AV research and development could net the state nearly 75,000 jobs and more than $4 billion in economic growth.
Alerts Sign-up