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Press Release: UMass Dartmouth annual economic impact: $517 million, 2,483 external jobs


UMass Dartmouth annual economic impact: $517 million, 2,483 external jobs

UMass Dartmouth contributed $517 million to the Massachusetts economy and supported 2,483 external jobs in 2013, according to a new study by the UMass Donahue Institute. This represents a return on investment of $9 for every state dollar invested

Author:  Joseph Sullivan [Contact]
Date:  May 22, 2014
Department:   News & Public Information
Dartmouth, MA (May 22, 2014) -- UMass Dartmouth contributed $517 million to the Massachusetts economy and supported 2,483 external jobs in 2013, according to a new study by the UMass Donahue Institute. This represents a return on investment of $9 for every state dollar invested.

"The public investment in UMass Dartmouth has a powerful impact on the economy of our region," UMass Dartmouth Chancellor Divina Grossman said. "UMass Dartmouth's impact ranges from the creation of construction jobs to purchasing services and goods from small business. Among our top priorities moving forward will be translating UMass Dartmouth research into the creation of jobs in the region, preparing our students to excel in those jobs, and assisting K-12 schools in preparing their students to succeed in college. "

Besides the 2,483 external jobs created by UMass Dartmouth, the University employs 1,220 faculty and staff. About one-quarter of the UMass Dartmouth operating budget is funded by the state.

UMass Dartmouth is part of the five-campus UMass System, which contributed a total of $6.1 billion to the economy of Massachusetts, including 29,552 jobs, according to the Donahue Institute.

Among the UMass Dartmouth economic catalysts are the following:

--  The School for Marine Science & Technology (SMAST) on Clark's Cove in New Bedford is a leader in providing research to assist in sustaining commercial fishing, managing coastal development, and is beginning to engage in marine-based renewable energy initiatives. SMAST recently launched a new video survey research program designed to measure the Yellowtail Flounder population. Plans for a $45 million expansion of SMAST are underway.

-- The College of Visual and Performing Arts in downtown New Bedford has attracted $90 million of private investment in the surrounding neighborhood, including restaurants, apartments, and shops.

--  The Advanced Technology and Manufacturing Center (ATMC) in Fall River currently houses 12 companies in clean energy, marine technology, biotechnology and life sciences, and the software industry. Fifteen companies have already graduated from the ATMC, with 80 percent of staying in Massachusetts. The center experienced combined annual sales of over $50 million in 2013 and historically its companies have generated more than 200 jobs.

-- The University has also located a continuing education center in downtown Fall River that attracts students to the area and the University has invested in the Massachusetts Accelerator for Biomanufacturing in the city's bio-park.

-- In the past year, UMass Dartmouth students dedicated 195,063 hours of community service at a value of $5.3 million to the community. More than 100 UMass Dartmouth faculty members taught 170 service-learning sections this past academic year that engaged nearly 5,000 students in projects that benefit the community. This work has gained national recognition, making UMass Dartmouth one of 12 President Higher Education Honor Roll Finalists out of nearly 4,500 campuses nationwide.

Washington Monthly has also ranked UMass Dartmouth at #25 on its list of best master's institutions in the United States. This ranking focuses on the impact a university has on individuals and communities.
 

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