Study credits state regulatory environment for Arizona’s autonomous tech sector growth

The Arizona Chamber Foundation released a new policy brief Monday that indicates the new decade is likely to see substantial growth in Arizona’s autonomous vehicle industry.

“Economic Impacts of Advancing Arizona’s Competitive Position in the Autonomous Vehicle Industry,” the analysis authored by economist Jim Rounds and his team at Rounds Consulting Group, said Arizona is well positioned to capture a disproportionate percentage of the long-term economic benefits of the industry.

The national AV industry is expected to grow to $557 billion by 2026, and the automotive and tech sectors will have invested about $61 billion in development by 2023.

Rounds’ analysis also found that Arizona could increase its state and local tax collections by approximately $500 million by 2030, a number he said is conservative.