Issue link: https://nebusinessmedia.uberflip.com/i/1513532
wbjournal.com | December 25, 2023 | Worcester Business Journal 21 Report: UMass Chan generates $2.2B for Mass. economy e five-school University of Massa- chusetts system generated $8.3 billion for the economy in 2022, according to an Oct. 26 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. At UMass Chan, construction spending accounted for approximately $94 million in spending, according to the report. e state invested $60 mil- lion in the school during fiscal 2022. e 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. e UMass System is the third largest employer in Massachusetts. e economic impact comes largely from the purchase of goods and ser- vices by the UMass system as well as students and staff members. In April, the higher education sys- tem reported a record-breaking year in research and development output, with UMass Chan leading the expenditure. Holy Cross, WPI team up to offer combined master's degrees e College of the Holy Cross and Worcester Polytechnic Institute have agreed to a partnership to allow Holy Cross students to complete their bache- lor's degrees at the renowned Worcester undergraduate liberal arts college and earn a master of science or master of engineering degree at WPI. WPI President Grace Wang and Holy Cross President Vincent Rougeau signed the memorandum of agreement enact- ing the partnership on June 27. Holy Cross doesn't have graduate programs of its own, so this partnership enables its students to obtain a graduate degree as part of their education. e WPI degree programs initially partici- pating in this partnership are mechan- ical engineering, and electrical and computer engineering. W Supporting Sponsor ROCKLAND TRUST BANK Start the New Year off with BOB! Join the Worcester Business Journal and presenting sponsor Fidelity Bank as we toast the 2024 Best of Business Award winners at our Networking and Awards celebration! January 24, 2024 Beechwood Hotel, Worcester 5:00-7:00PM Cost: $50 Pre-registration required. www.wbjournal.com/ BOBawards Presenting Sponsor Winners will be announced in our January 8th edition! LOOK NO FURTHER For a great rate on your savings Certificates as high as 5.00 % APY On terms of 9, 18 and 24 month Certificates *APY-Annual Percentage Yield effective December 1, 2023. 4.85% APY on 9 month and 4.75% APY on 18 or 24-Month Certificates or IRAs. 5.00% APY on 9, 18 & 24-Month Relationship and Jumbo Relationship Certificates. 5.45% APY on 18 or 24-Month Relationship or Jumbo Certificates or IRAs. $500 minimum to open Certificate or IRA or $100,000 minimum to open a Relationship Jumbo Certificate or Jumbo IRA. Relationship Certificates or IRAs require a Relationship account with a minimum balance of $2,500 and a combined average daily balance of $20,000 in all SMCU deposit accounts and direct deposit. Rates may vary and are subject to change without notice. Dividends are com- pounded daily and credited to the account per monthly statement cycle. Fees may reduce earnings. Early withdrawal penalties may apply. stmaryscu.org (508) 490 8000 New! Visit our site for more info