Economic study

ECONOMIC SURVEY REVEALS THE INTERNET CREATES 136,000 JOBS, $48 BILLION IN GDP ACROSS ARIZONA

PHOENIX, February 28, 2022 /PRNewswire/ — While recent economic research details the direct link between the Internet ecosystem and economic growth through Arizonaa trio of ArizonaLondon-based business owners have joined a national coalition, Internet for Growth, to tell how their businesses have benefited from the internet’s unique ability to connect businesses and consumers.

The Economic Impact of the Market-Making Internet, a study published every four years by the Interactive Advertising Bureau (IAB), finds that the Internet has contributed $48 billion to state GDP in 2020 and accounted for 135,900 jobs in Arizona.

The growth in from arizona Internet jobs have been remarkable, growing from around 37,000 in 2012 to just under 136,000 in 2020, a growth rate of 265%.

Recently, the IAB helped launch a national coalition, Internet for Growth, to help capture the stories of the millions of creators, entrepreneurs, and small businesses who rely on the ad-supported Internet so that, When policymakers consider regulations, they have a full understanding of how the Internet is being used to help grow and transform our economy. Internet for Growth has grown rapidly to include over 300 small businesses, including Arizonabased contractors Margaret DunnCEO of Dunn Transportation; Max Fose, President and CEO of Fose+McKay; and Allen Affeldtowner of the hotel La Posada in Winslow.

“This explosive growth clearly shows how essential the internet is to the economy of Arizonafor businesses of all sizes and in all industries,” said Dunn, Founder and CEO of Scottsdaleat Dunn Transportation. “That’s why I joined the Internet for Growth coalition. I want policy makers to understand how critical the internet has been to growing our business, reaching our customers, and how important it is to every part of the world. economy of our state.

According to the study, two of from arizona Congressional districts have at least 38,000 Internet-dependent jobs. In two congressional districts in Arizona, Internet-related jobs employ at least 4% of the population.

The dramatic job growth in the Internet’s economic impact can be attributed to a number of factors, including the Internet’s ability to improve and refine advertising and marketing approaches, particularly for small businesses.

“The Internet lowers the cost of entry for all businesses, while providing a significant advantage to small businesses,” said Max Fosethe president of Arizonaadvertising agency based in Fose+McKay. “Small businesses and the self-employed created 38% of internet jobs, a higher percentage than medium (28%) or large businesses (34%). It shows how the Internet is democratizing business creation, allowing smaller businesses to be competitive. »

“At Fose+McKay, the web and digital advertising is a key part of everything we do for our clients. For our agency, it’s like oxygen for a human being. We couldn’t live without it. .”

Affeldt, whose La Posada property includes a hotel, gardens, gallery and museum, cited the internet as a key driver of his company’s results.

“If you’re in the tourism industry, like we are at La Posada, then the internet is a lifeline for you,” said Allan Affeldtthe owner of the historic north Arizona Hotel. “Very few businesses today would be viable without the internet to help us connect with our customers. As the former mayor of WinslowI joined the Internet for Growth coalition because I want our decision makers to see the world through the eyes of an entrepreneur who also understands politics: the Internet is essential to the mission of Arizona and American economies.”

Nationally, the study finds that the internet economy has grown seven times faster than the overall US economy, creating more than 7 million jobs over the past four years.

About Internet for Growth
Internet for Growth, an initiative of the Interactive Advertising Bureau, supports the transformative role the ad-supported Internet plays in empowering America’s small businesses, helping entrepreneurs turn their ideas into reality. Supported by a diverse community of over 700 IAB members, including marketers, agencies, publishers, platforms and ad tech providers, as well as hundreds of small businesses and creators, we’re showcasing highlights the benefits the Internet brings to local economies, expanding opportunities for innovators to reach markets far beyond their neighborhoods. Our work ensures that people understand the limitless opportunities the Internet offers for creativity and commerce, fair competition, and connection with consumers on mutually shared values ​​and interests, regardless of background or geography.

Media Contact:
David Leibowitz,
602.317.1414,
[email protected]

SOURCE Internet for Growth