Independent analysis confirms Arizona's largest private employer supports 120,000 jobs and $610 million in state and local tax revenues

PHOENIX, Nov. 11, 2026 (GLOBE NEWSWIRE) -- Banner Health generates $25.3 billion in annual economic output and supports approximately 120,000 jobs across Arizona, according to an independent analysis released today by Rounds Consulting Group. The nonprofit, fully integrated health system is Arizona's largest private employer, but the analysis confirms its economic reach extends well beyond its own workforce. Banner is a statewide economic engine whose ripple effects touch industries and households that may never set foot in one of its facilities, contributing $10.1 billion in annual labor income and $610.1 million in state and local tax revenues.

The analysis further found that nearly 48% of Banner's total employment impact occurs outside the healthcare sector. This means for every job Banner supports inside a health care setting, nearly an equal number of jobs are supported across the broader Arizona economy.

"We exist to serve our communities, and this analysis confirms that our commitment runs deeper than the care we deliver inside our facilities," said Amy Perry, Banner Health president and chief executive officer. "We are an economic anchor for communities across this state, and we take that responsibility seriously."

A statewide economic engine

Banner's approximately 53,000 Arizona-based employees generate nearly $12.9 billion in direct economic output and $12.4 billion in indirect economic output. Purchases from Arizona businesses support an estimated 32,000 indirect jobs. Household spending by Banner employees and its supply chain anchors another 35,000 jobs across industries including retail, restaurants, finance and professional services.

As a nonprofit, every dollar Banner earns is reinvested back into communities and expanded access to care for the people and places that make Arizona home.

Building Arizona’s healthcare workforce

Arizona faces a projected shortage of approximately 23,600 healthcare workers by 2035 — and Banner is helping close that gap. Arizona employment at Banner increased 2.3% in fiscal year 2025, compared with 0.8% statewide. More than 1,300 residents and fellows are trained at Banner every year, , with residency and fellowship positions increasing 21% in the last decade.

Medical professionals earned an average of approximately $111,300 annually in 2025 — 65% more than the statewide average — anchoring middle-class households and sustaining local economies across the state.

"Banner is not just measuring our economic impact today, we are actively building Arizona's workforce for tomorrow," said Mark Whalen, Banner Health chief enterprise growth officer. "The jobs we are creating and the physicians we are training are the foundation of Arizona's economic future."

Economic impact by region

Maricopa County anchors the largest share of Banner's impact, supporting approximately 95,000 jobs and $20.6 billion in annual economic output. Banner's reach extends statewide:

  • Pima County: approximately 20,700 jobs and nearly $4 billion in economic output
  • Pinal County: approximately 2,300 jobs and $466.4 million in economic output
  • Gila County: approximately 600 jobs and $119.8 million in annual economic output
  • Coconino County: approximately 300 jobs and $64.4 million in economic output
  • Yuma County: approximately 200 jobs and $39.4 million in economic output

Based on fiscal year 2025 data, Banner directly employs more than 700 people across Arizona counties outside Maricopa, Pima and Pinal — physicians, nurses, technicians and administrative professionals who live and spend in their communities while providing care to their neighbors. For rural Arizonans, Banner's presence means access to an integrated health system without leaving home.

Rounds Consulting Group is an Arizona-based economic and public policy consulting firm specializing in economic and fiscal impact analysis, economic development, forecasting, market research, and strategic planning. Rounds Consulting Group used a customized IMPLAN model to estimate the direct, indirect, and induced economic effects associated with Banner Health. The findings are estimates based on information provided by Banner Health, publicly available economic and employment data, industry research, and economic modeling assumptions.

To view the full report, please visit our website.

About Banner Health

 Banner Health's mission is to make health care easier, so life can be better. As one of the nation's largest fully integrated nonprofit health systems, we are pioneering a sustainable care model that prioritizes prevention, manages chronic disease, and reduces health spending – succeeding when patients stay healthy, not when they get sick. We operate 33 hospitals and more than 400 sites across six states, delivering seamless care from primary to quaternary medicine, including health insurance, physician networks, world-renowned specialty services, and behavioral health. Accountable to the communities we serve, we reinvest every dollar into advancing care, research, and facilities, providing more than $1 billion each year in community benefit. Through our partnership with the University of Arizona, we drive clinical discoveries across more than 800 trials and train more than 1,300 residents and fellows annually. Headquartered in Arizona, we serve Arizona, California, Colorado, Nebraska, Nevada, and Wyoming. Our hospitals are consistently ranked among Arizona's top-performing by U.S. News & World Report. For more information, visit bannerhealth.com/about.

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