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The Mass Media

The Mass Media

The Mass Media

UMass delivers for Commonwealth

Massachusetts Daily Collegian (U. Massachusetts)

The University of Massachusetts, in collaboration with its satellite campuses in Boston, Lowell, Dartmouth, and the medical school in Worcester, generates $4 billion in economic activity annually, making it one of Massachusetts’ strongest economic promoters, according to a report released Wednesday.

The report, titled, “UMass: A Strategic Investment: A Critical Asset for the Commonwealth’s Economic Future,” was released by the UMass Donahue Institute, one of the leading research facilities in Massachusetts.

The study, conducted by Michael Goodman, the director of economic policy and analysis at the institute, aimed to measure the University’s impact on the state economy, according to Paul Jean of the UMass President’s office.

Each dollar of state support the University receives allows the University to generate more than $8 in economic activity, according to a press release from the UMass News Office.

“When you spend money, that creates other economic impacts,” Jean said. “If I spend money, that puts money in other people’s pockets and it generates economic activity throughout the economy.”

UMass spends approximately $2 billion each year, and receives a quarter of that money from the Commonwealth of Massachusetts. The rest of the funding comes from tuition and fees, research grants and various other sources that account for the rest of the $2 billion total, according to Jean.

The funding from the state totals $524 million of the university system’s total operating budget, and stimulates $4.3 billion in economic activity.

Translated into employment terms, 90 private sector jobs are generated for every 100 UMass jobs, according to the press release.

“If UMass were a private or commercial company, it would not only be a globally competitive firm but one of the state’s largest drivers of economic growth,” according to the report.

UMass is a $2 billion enterprise with 15,000 employees, generating $377 million in research and development investments.

“UMass is the only higher education institution that touches every corner of the state,” said Jack Wilson, president of UMass. “Our initiatives are driving the innovation, educating the talent, and creating the jobs the Commonwealth needs for a bright and successful economic future.”

In the last three years, UMass “has leveraged state matching grants to win national competitions to locate three national research centers, including a cutting-edge $40 million atmospheric sensing center at Amherst, a $16 million nanotechnology center at Amherst, and a $12 million nanotechnology center in Lowell,” according to the press release.

“What the University is trying to do is to measure their impact on the Massachusetts economy,” said Jean. “And that’s why this report was done. And it’s really the first time they’ve captured all of the ways in which they impact the economy directly.”