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ARIZONA MINERALS & MINING RELEASES ECONOMIC SURVEY

 PHOENIX, Dec. 18 /PRNewswire/ -- Arizona's mines and the businesses that provide them with goods and services are worth $7.3 billion a year to the state's economy, according to a first-ever analysis of the entire minerals and mining industry.
 The study puts the direct market value of Arizona minerals and mining at $3.4 billion. The $7.3 billion figure comes from calculating the impact of money as it circulates through the state's economy.
 The study was prepared by Dr. Lee McPheters and Dr. Tim Hogan of the William Seidman Research Institute, College of Business, Arizona State University.
 McPheters and Hogan prepared the study for the Arizona Minerals and Mining, a cluster of mining and mining-related businesses and institutions organized for the Arizona Strategic Plan for Economic Development (ASPED).
 The study also discloses that the Arizona minerals and mining industry:
 -- Provides 76,100 jobs, many of them in rural areas of the
 state.
 -- Pays $154.9 million in state and local taxes.
 -- Accounts for personal income totaling $1.9 billion.
 Direct mining employment, according to the study, totals 19,000 workers, who earn an average of $725 a week, the state's highest industrial pay rate.
 Nicholas S. Balich, vice president of Phelps Dodge and co- chairman of Arizona Minerals and Mining Cluster, said the figures came from a second study commissioned by the cluster.
 "The concept of a cluster that takes in an entire mining industry -- copper, coal, rock products and all affiliated enterprises -- is new," said Balich. "The cluster is so broad that it doesn't lend itself to standard economic analysis, so the Arizona Minerals and Mining Cluster commissioned two studies, and offers the low one as an indication of the total industry's value to the state."
 The other study, authored by Dr. George Leaming of the Western Economic Analysis Center in Marana, set the economic impact of minerals and mining activity at almost $40 billion. Leaming independently released those figures earlier this week.
 "Because mines are mostly located away from state's major population centers, mining is a hidden industry or industries, but obviously of enormous value to all of Arizona," Balich said.
 Balich added that various segments of the mining industry are periodically examined for economic impact, but that this is the first time that all mines and allied industries have been combined into a single study.
 Bob Hobbs, president and CEO of Naumann and Hobbs Material Handling Company in Phoenix is co-chairman of Arizona Minerals and Mining Cluster.
 -0- 12/18/92
 /CONTACT: Dave Ridinger, 602-266-4416/


CO: Arizona Minerals and Mining ST: Arizona IN: MNG SU:

MS-JL -- SD002 -- 0025 12/18/92 14:48 PST
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Publication:PR Newswire
Date:Dec 18, 1992
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