PHOENIX, April 5, 2011 /PRNewswire/ — Express Scripts
contributed more than $226 million to Arizona’s economy in 2010,
according to an economic analysis of the company’s data by a
university professor.
(Logo:
http://photos.prnewswire.com/prnh/20080827/EXPRESSSCRIPTSLOGO)
The economic impact study, presented today to state economic
development officials and legislators, showed that the company’s
operations support 2,665 direct and indirect jobs in the state.
The analysis was conducted by Edward C. Lawrence, PhD, finance
professor at the University of Missouri-St. Louis College of
Business and calculated the payroll impact of these jobs to be $183
million last year.
“We are proud of our role as a key employer in Arizona, and
especially pleased to be able to serve the Department of Defense
from this site,” said Jen Pein, vice president & general
manager of pharmacy operations for Express Scripts. She is based in
Tempe. “We appreciate the support we have received from the state
and the business environment of Arizona.”
The study further projects that the company will continue to
provide significant value for the local area and state over the
next 10 years. Assuming a modest 2 percent increase in spending and
wages annually, Express Scripts would produce $2.4 billion in
economic benefits for the state of Arizona in the next decade.
The study also found that:
- Express Scripts generates $8.4 million annually in local and
state taxes. - New capital investment is expected to grow to $5.4 million in
2011, an increase of 125 percent from 2010. - Food and lodging expenses by out-of-town employees contributed
an additional $350,000 to the local economy last year.
Express Scripts operates facilities at two locations in Arizona
that serve the U.S. Department of Defense TriCare program an
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