Novus Innovation Corridor Has Generated $1.86 Billion

Novus Phase III of Development

Construction of completed and currently active projects in Novus will generate an economic impact of $1.86 billion*. Seidman also projects 33,734 jobs will be created by 2035 through office, hotel, multifamily and retail operations in Novus. Additionally, more than 20,000 temporary construction jobs related to development will also be generated.

Ultimately, the growth, jobs and commerce associated with Novus will enable the university to operate from a stronger and more economically enviable position,” said Morgan Olsen, Ph.D., executive vice president, treasurer and CFO of ASU. “Everything we are doing within Novus and our other innovation zones is focused on creating a sustainable financial model for the immediate future and the rest of this century.

Read the full press release here.