LOWELL – UMass Lowell’s positive economic impact on the region added up to more than $812 million last year, supporting thousands of jobs and businesses, according to a report by the UMass Donahue Institute.
UMass Lowell increased its positive impact by $322 million, or 66 percent, in just three years, up from $490 million in Fiscal Year 2010, according to the Donahue Institute report, which found that the University of Massachusetts system pumped $6.1 billion into the state economy in Fiscal Year 2013 — up 25 percent since FY 2010.
“UMass Lowell is a key economic driver in the Commonwealth, directly or indirectly affecting every person in the state,” the Donahue Institute report states, adding that UMass Lowell’s contributions to the economy from major construction projects and spending by faculty, staff and students “generates significant benefits for the Massachusetts economy.”
Statewide, the UMass system supports more than 45,000 on- and off-campus jobs. Locally, UMass Lowell supports more than 6,200 jobs, 70 percent of which are off-campus. The city’s second-largest employer, UMass Lowell employs approximately 1,400 full-time faculty and staff.