The backbone of a community is its economic development, which includes developing strategies and initiatives to stimulate the economic health and activity of the area, while providing local citizens with opportunities to enhance their standard of living.
At Freeport-McMoRan, our Arizona operations deliver large economic benefits to the state in the form of direct wages and taxes we pay as well as the goods and services we buy. Thanks to the multiplier effect, this indirectly benefits many other stores, restaurants and businesses.
We have supported a myriad of programs and projects in this area, including efforts to develop human capital, enhance critical infrastructure, spark job creation, assist small business development and support business retention and expansion.
Freeport-McMoRan generated an estimated $2.0 billion in economic benefits for Arizona in 2016.
Our company contributes in many ways to the sustainability of the various communities, counties and states in which we operate. They rely heavily on the economic benefits directly and indirectly provided by our various operations in the form of wages and taxes we pay as well as the goods and services we purchase. This direct spending ripples through the economy, inducing additional economic benefits and contributing to more jobs and greater tax revenues.
The charts help explain how Freeport-McMoRan provides such a boost to the state.
Freeport-McMoRan is also committed to ongoing engagement with the communities in which we operate, investing in programs that help communities realize plans and initiatives that increasingly bolster their sustainability over time and become less depend on a single industry.
At the end of 2016 Freeport-McMoRan had more than 7,460 employees in Arizona and a total impact of approximately 20,000 jobs on Arizona’s economy.
To learn more about an example of one economic development project, taking place at Morenci operations, click here.
Economic impact numbers were produced by the L. William Seidman Research Institute, Arizona State University.