The five-school University of Massachusetts system generated $8.3 billion for the Massachusetts economy in 2022, according to a Thursday report from the university.
UMass Amherst generated $2.9 billion for the state economy in fiscal year 2022, the most of any of the five schools. UMass Chan Medical School in Worcester came in second at $2.2 billion.Â
At UMass Chan, construction spending accounted for approximately $94 million in spending, according to the report. The state invested $60 million in the school during fiscal 2022.
The UMass system supports 40,000 jobs statewide, according to the report. UMass Chan is responsible for 5,245 staff member positions and 10,872 external jobs made possible through employee, student, and school funding. The UMass System is the third largest employer in Massachusetts.
The economic impact comes largely from the purchase of goods and services by the UMass system as well as students and staff members.Â
In April, the higher education system reported a record-breaking year in research and development output, with UMass Chan leading the expenditure.
