Local First Arizona retained Applied Economics to perform an economic benefit analysis of the operations of SCF Arizona on the State of Arizona (download study in PDF format).
The findings of this analysis show that locally owned companies with a vested interest in the community in fact do create a greater economic impact, indirectly supporting more jobs, payroll and output locally. They also create a greater revenue impact in that more of the taxes they pay, and their employees pay, stay in Arizona.
Introduction (this page)
· Operations Impacts
· Vendor Spending
· Employee Spending
· Overall Economic Impacts
· Corporate Contributions
· Direct Revenues
· Indirect Revenues
Applied Economics was retained by Local First Arizona to perform an economic benefit analysis of the operations of SCF Arizona on the State of Arizona. SCF Arizona was founded in 1925 as part of the Industrial Commission of Arizona. Since that time, they have emerged as the largest provider of worker’s compensation insurance in Arizona. SCF Arizona is focused on finding innovative solutions for customers to protect and optimize their workforce. It is also part of their corporate mission to dedicate time and resources to have a positive impact on the communities they serve.
SFC Arizona currently has 555 employees at seven locations throughout Arizona including the headquarters in Phoenix and branch offices in Flagstaff, Lake Havasu City, Prescott, Show Low, Tucson and Yuma. SCF Arizona serves more than 42,000 businesses and more than 700,000 employees statewide. Figures included in this report are based on 2009 expenditures and employment levels provided by SCF Arizona.
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The information and observations contained in this report are based on our present knowledge of the components of development, and of the current physical, socioeconomic and fiscal conditions of the affected areas. Estimates made in this analysis are based on hypothetical assumptions, current tax policies, and the current economic structure of the region. However, even if the assumptions outlined in this report were to occur, there will usually be differences between the estimates and the actual results because events and circumstances frequently do not occur as expected. This analysis is based on the best available information and is intended to aid Local First Arizona in demonstrating the impacts SCF Arizona has within the state. In no way will Applied Economics be held responsible or have any liability or be subject to damages as a result of this analysis. This report may be used only for the purposes that it was intended.