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UMass Generates Record $6.2B in Economic Impact

BOSTON — The University of Massachusetts was responsible for $6.2 billion in economic activity in Massachusetts last year — a record high — and helped to support more than 43,000 jobs statewide, President Marty Meehan announced Tuesday.

“UMass educates more students than any college or university in the Commonwealth and is one of the state’s three largest research universities, but it also has a profound impact on the Massachusetts economy based on the scope and reach of its operations,” Meehan said. “UMass is a vital economic engine for the Commonwealth, and its impact is felt in every community and by virtually every family across Massachusetts.”

Victor Woolridge, chairman of the UMass board of trustees, said the report illustrates that “UMass truly is here for a reason, and that reason is to serve the entire Commonwealth. The importance of generating an economic impact on the scale that we do — and having it distributed in every corner of the state — cannot be overstated.”

The economic impact generated by the five-campus UMass system translates to a 10-to-1 return on investment for state government when total state funding for the university is considered, according to a FY 2015 analysis performed by the UMass Donahue Institute, which conducts economic and public-policy research.

The major drivers of economic impact are student, faculty, and staff spending; construction projects; and the university’s purchasing the goods and services required for its activities. The study measured that spending and its ripple effect in determining the $6.2 billion impact estimate.

According to the Donahue Institute report, each of the five university campuses generated a substantial economic impact for its region and the state. By campus or unit, the figures were: Amherst, $2.069 billion; Boston, $1.085 billion; Dartmouth, $466.1 million; Lowell, $921.9 million; Medical School, $1.584 billion; and Central Administration, $198.4 million.

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