State's school districts could gain $7 million in revenue annually

ROSEMONT COPPER EXPECTED TO BOOST ARIZONA ECONOMY YEARLY BY $488 MILLION, 2,950 JOBS

TUCSON, AZ, Sept. 17, 2007 -A new study from the Western Economic Analysis Center in Pima County reports Arizona's public and private sectors stand to gain significant economic benefits from the Rosemont Copper mine. The study looked at the economic impact on a local, state and national basis for the estimated 19-year mining operation, which calculates a cumulative boost of approximately $43.7 billion over that period of time, said George F. Leaming, Ph.D., author of the economic analysis.

Details from the study show that:

• Pima County - Residents in the county will see a local increase of $156 million in direct revenues from Rosemont Copper and another $100 million generated through indirect contributions to personal incomes, business sales and local government incomes. Over the 19 years of mine operations, more than $4.8 billion will support schools, local governments, families and private businesses throughout Pima County. The mine will provide nearly 500 jobs with $29 million in salaries directly (based on 2006 wages) and another 1,200 supportive jobs with an annual total income estimated at $42 million, for an overall annual countywide increase in income of $72 million.
• Arizona - The Rosemont Copper mine will benefit the state's economy by an average of almost $488 million per year to personal income, business sales, and government revenues. In addition, the economic support will include the direct and indirect creation of 2,950 new jobs. State, county, municipal, school districts, community college and other local governments across the state will see new revenue streams of almost $49 million per year during the 19 years, with the economic benefit to the state totaling more than $9.2 billion.
• United States - For nearly two decades, the national economy will realize more than $2.3 billion annually, and more than a $43.7 billion boost through direct and indirect contributions related to the operation of the Rosemont Copper mine. Individual Americans will gain a substantial amount of personal income ($520 million annually), businesses will realize an additional $1.5 billion in sales generated, and the Federal Government will see an average of $164 million for each year of production.

Dr. Leaming, who earned both his MBA and Ph.D. in economics from the University of Arizona, spent 12 years as a UA faculty member. His bachelor's of science degree in mining engineering is from Lafayette College in Pennsylvania.

Click here to view the Economic Impact study

A Super Bowl in Arizona Every Year?

On February 3, 2008, Super Bowl XLII was held in Glendale, Arizona, bringing an estimated $300-$400 million in economic benefit to the host city. Comparatively, Rosemont Copper will bring more than $487 million to Arizona’s economy every year during the 19-year life of the mine.