University of Arizona Health Sciences is receiving a new investment for its proposed biomedical research hub in downtown Phoenix.
The Maricopa County Board of Supervisors recently approved $4 million in funding for the University of Arizona Health Sciences Center for Advanced Molecular and Immunological Therapies — or CAMI — which will anchor the Phoenix Bioscience Core.
The $4 million in federal funding stems from the American Rescue Plan Act. Over the past two years, Maricopa County used the funds to sustain small businesses, mitigate the spread of Covid-19 and support health care initiatives.
CAMI will focus on research for immunology of cancers, infectious diseases and autoimmune conditions, according to a UArizona Health Sciences announcement.
“The Center for Advanced Molecular and Immunological Therapies is designed to respond to health crises that have arisen and will arise in the future, to advance health care activities within the region, and to provide additional fuel to the local economy’s engine,” Dr. Michael Dake, senior vice president for the University of Arizona Health Sciences, said in a statement.
The Maricopa County Board of Supervisors’ investment will advance health sciences advancements as Phoenix becomes a national hub for cell- and gene-based therapy research, startup activity, and corporate engagement, Dake added.
The proposed center will fulfill a need to expand research of new immunotherapies to combat ongoing Covid-19 effects, especially among vulnerable residents, said Clint Hickman, chairman of the Maricopa County Board of Supervisors.
“Our investment in the University of Arizona Health Sciences and CAMI aligns with our commitment to improving the health of Arizona’s residents while also offering significant tangible fiscal benefits to Maricopa County and the state,” Hickman said in a statement.
Center to have $4.8 billion impact
UArizona Health Sciences first announced in April 2022 that it selected downtown Phoenix for the center, which will be built on the southwest corner of Seventh and Fillmore streets near the university’s medical school operations. The 293,000-square-foot structure will have 10 floors above ground and two floors below ground.
The new center will house 42 principal investigator-led research groups and 15 bioengineering research groups. It also will have space for UArizona's Office for Research Innovation and Impact, along with the academic research activities for a new biomedical engineering program, the Business Journal previously reported.
An analysis by Tempe-based Rounds Consulting Group indicated CAMI is expected to spur upwards of $4.8 billion in economic activity, according to UArizona Health Sciences’ website.
Economic impact estimates show an estimated 2.5 to 1 return on investment within 10 years with CAMI attracting more than 150 companies to the Valley and generating more than 7,500 bioscience-related jobs and 13,000 supporting positions. The center is also expected to generate more than $140 million in tax revenue for Maricopa County.
CAMI is supported by the New Economy Initiative, which provides state funding to Arizona’s universities to enhance economic opportunities and develop a skilled and diverse workforce.
Last year, former Arizona governor Doug Ducey designated $150 million to the proposed project.
