SCF Arizona is a significant contributor to the state’s economy. They enhance Arizona’s business climate by keeping premiums for workers’ compensation insurance among the lowest in the country. Additionally, the money that policyholders save on premiums is pumped back into the local economy because SCF is an Arizona-based company that only does business in Arizona.
SCF also provides high quality jobs to hundreds of workers and supports the local economy with millions of dollars each year in vendor purchases, creating a very significant economic impact in the region and the state. The fact that SCF Arizona makes a sizeable share of vendor purchases from Arizona companies greatly increases the multiplier effect in terms of the share of economic benefits that stay in Arizona. These local vendors, in turn, are also more likely to make purchases in-state, resulting in a cascade of economic benefits to the state.
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.