Study: Arizona nonprofits grew by 25 percent

credit: Wikipedia

A recent study by the Arizona Community Foundation found that Arizona's economy has grown in part due to an increasing influence of nonprofit organizations within the state. Nonprofits provide employment to state residents and are responsible for almost 10% of Arizona's gross state product, mostly resulting from fees and revenue from government contracts.

The assets held by Arizona nonprofits have hit nearly $50b in total and have transformed cities like Lake Havasu, which depend on nonprofits to support their local economies, in large part through spending. Over the last 7 years, a 12% surge in nonprofit growth has helped strengthen the state's ability to compete both nationally and internationally with a strong and skilled labor force.

According to the Arizona Community Foundation, the influence of nonprofits in the state of Arizona must be taken seriously.

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