Report finds UMass system brings $6.1 billion into state's economy
The five campuses of the University of Massachusetts system pumped a combined $6.1 billion into the Massachusetts economy in 2013 and account for more than 45,000 jobs, according to a study by the UMass Donahue Institute’s Economic and Public Policy Research group.
The study highlighted the role that the UMass system and its five campuses played in boosting the economy of their respective regions and the entire state. It found that the state’s $519 million investment in the UMass system in 2013 fiscal year helped leverage and support $6.1 billion in economic activity in Massachusetts or $12 in economic output for every $1 in state money that UMass received.
The purpose of the UMass Donahue Institute report was to provide an objective analysis to quantify the economic contributions of the University of Massachusetts system and its campuses on the Commonwealth’s economy. The University has campuses in Amherst, Boston, Dartmouth, Lowell and a Medical School in Worcester, and also operates programs in 75 other facilities across the state.
According to the report, each of the five University campuses generated substantial economic contributions for Massachusetts. By campus, the figures were:
• Amherst: $1.9 billion
• Boston: $870 million
• Dartmouth: $517 million
• Lowell: $812 million
• Medical School: $1.7 billion
In addition, external jobs supported by each campus were:
• Amherst: 8, 957
• Boston: 4,692
• Dartmouth: 2,483
• Lowell: 4,801
• Medical School: 7,945
The full report is available here.
May 13, 2014