UMass Chan Medical School generated more than $2 billion in economic activity in Massachusetts in 2022, according to the recently released UMass Economic Contribution Analysis report.
The report, conducted by the UMass Amherst-based Donahue Institute, is the first post-pandemic analysis of the system’s statewide economic contribution. The report found the five-campus UMass system generated a record $8.3 billion in economic activity in FY2022 and supported nearly 40,000 external jobs across Massachusetts.
“The scope of the operations on our five nationally ranked research universities has a profound impact on the Massachusetts economy overall and every region of the commonwealth,” UMass President Marty Meehan said. “As the state’s top workforce development engine, which educates more students than any other college or university in Massachusetts, and as one of the state’s three largest research universities, the university’s economic contribution touches every community.”
The economic impact of the five schools in the UMass system translates into a 9-to-1 return on the state investment in the university.
For its part, UMass Chan had a $2.2 billion impact on the state’s economy, which includes the contributions of the local operating expenditures of the Medical School and one-time major construction expenditures, as well as the spending of the Medical School’s faculty, staff and students, which supports an additional 10,872 jobs throughout FY2022.
Including faculty and staff, UMass Chan supported a total of 16,117 jobs across the state.
