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Latest report published on Massachusettes-Israel business collaboration

In a VIP ceremony in Boston this week, Governor Charlie Baker revealed the latest results from the independent study measuring the impact of business and technology collaboration between the people of Israel and Massachusetts.

This study, updating prior studies released in 2010 and 2013, identified:

  • Over 200 Israeli-founded businesses called greater Boston their home in 2015…
  • … booking over $9 billion of revenue in the state that year…
  • …and generating over $18 billion in economic benefit to Massachusetts, inclusive of their own revenue, plus the multiplier effect of their spending in the local economy, for example, on office space and accounting, legal, marketing, healthcare, and other services.
  • … representing nearly 4% of the state’s GDP in 2015,
  • … while their revenue grew more than 2x faster than the state’s economy from 2013- 2015, and faster than the state’s successful life sciences and IT sectors.
  • They directly employed about 9,000 people in the state…
  • … and supported over 27,000 jobs based on the multiplier effect of their demand for goods and services in support of their businesses…
  • … while their employee base grew 5x faster than the state’s economy from 2013-2015, and faster than the state’s important life sciences and IT sectors.
  • They secured over $1.2 billion in venture capital from 2013-2015, representing 10% of all VC funds raised in the state…
  • …and returned nearly $10 billion to investors in M&A transactions from 1999-2015.

Learn more at NEIBC.org

Contact Tor Tsuk at the Israel Economic Mission in NYC for more information.