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Press release from Business Wire

APS Contributes $3.4 Billion, 39,000+ Jobs to Arizona Economy

<p class='bwalignc'> <i>ASU Study Quantifies Company's Benefit to Arizona, New Mexico</i> </p>

Tuesday, August 30, 2011

APS Contributes $3.4 Billion, 39,000+ Jobs to Arizona Economy18:30 EDT Tuesday, August 30, 2011 PHOENIX (Business Wire) -- Arizona Public Service Company contributed $3.4 billion to the Arizona economy and supported 39,200 Arizona jobs in 2010, according to an economic impact report by Arizona State University's W. P. Carey School of Business. Including New Mexico, where the company operates the Four Corners Power Plant, APS provided a $4.2 billion economic benefit to the Southwest, encompassing trickle-down effects that support more than 46,745 total jobs. The ASU study quantifies the direct impact of Arizona's largest electricity provider as well as the indirect benefit created by supporting local suppliers and their employee spending. “The tax dollars and payroll impacts from APS business transactions, as well as local spending by company employees throughout the state, represent significant economic benefits to Arizona,” said W. P. Carey School of Business Professor Dennis Hoffman, director of the L. William Seidman Research Institute, which conducted the study. “We believe these benefits are broad, deep and sustainable. APS is among the companies with the biggest economic impact on this state.” Report highlights include: APS is Arizona's largest taxpayer. The company paid $408 million in taxes to the state and to municipal governments in 2010. When combined with taxes paid by APS employees as well as those paid by local vendors, this spending supports 15,624 jobs and generates $592 million in total income for Arizona. APS purchased more than $945 million in equipment, supplies and services from Arizona vendors in 2010. These purchases directly and indirectly supported 10,755 Arizona jobs. Consumer spending by APS employees accounts for a $364 million economic benefit to Arizona and supports 5,308 jobs. APS operations directly employ 7,514 people in Arizona. “APS has always understood that we are an integral part of Arizona's economic success. APS spends $1 billion per year to build a cleaner, more efficient and reliable energy future for Arizona. We are proud of the jobs and other opportunities we generate in Arizona,” said APS Chairman and Chief Executive Officer Don Brandt. APS is Arizona's largest and longest serving electric utility and serves more than 1.1 million customers in 11 of the state's 15 counties. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW). APSMedia Contacts:Steven Gotfried, 602-250-3040Dan Wool, 602-250-3127Analyst Contacts:Rebecca Hickman, 602-250-5668Geoff Wendt, 602-250-5643aps.com/newsroom