UMass Medical School has a huge economic impact on the local economy, according to an article published in the Worcester Telegram & Gazette on Monday, July 22. UMMS contributes more than $1.75 billion to the local economy in direct and indirect expenditures.
“Direct effect includes direct employment and revenue/expenditures—i.e., including UMass Medical School’s expenditures for goods, services and payroll. Indirect and induced effect represents revenues for local businesses that result from UMass Medical School’s local expenditures, and revenues for local businesses that result from employee spending,” explained James Leary, vice chancellor for community and government relations, who was interviewed for the article.
The numbers cited by Leary come from a survey by the University of Massachusetts Donahue Institute.
Read the full article here:UMass Medical School's $1.75 billion contribution to Worcester's economy