Marty Meehan, President, University of Massachusetts
In an interview with Invest:, Marty Meehan, president of the University of Massachusetts, discussed UMass’s critical contributions to Massachusetts educating 74,000 students annually, with 75% staying in the state. He highlighted the $800 million Lowell Innovation Network expansion, aimed to drive local economic growth and strengthen industry partnerships.
What role does the University of Massachusetts play in supporting the growth and development of Massachusetts?
At UMass, we take great pride in our substantial contributions to the state. Each year, we educate 74,000 students, with about 75% of them staying in Massachusetts after graduation. As the state’s leading workforce development engine, UMass educates more students than any other institution in the state and supports nearly 40,000 external jobs.
Our graduates are top employees in key industries such as life sciences, healthcare, and technology, significantly contributing to the local economy and workforce. We produce more engineers and nurses combined than any other private university , ensuring that our alumni are crucial to ensuring Massachustts remains one of the most educated and innovative states in the nation.
The university generates vast economic activity, with a recent study estimating the UMass system’s annual economic impact at approximately $7.5 billion statewide. Additionally, we generated $826 million last year in research funding from our 94 research facilities. These facilities support companies that lack the necessary infrastructure, enabling growth and significant output.
What impact will the Lowell Innovation Network expansion have on the city and its industries?
I’m incredibly proud of the Lowell Innovation Network Corridor, an exciting economic transformation creating laboratories, office spaces, housing, restaurants, retail, and entertainment venues. We’re working closely with Draper Labs, expanding a partnership we’ve already established. This project aims to embed industry leaders with our faculty and students, creating a synergy that benefits everyone and will not only create jobs across multiple industries but also expand industry partnerships and talent pipelines, making Lowell a top destination for companies, students, researchers, families, and visitors.
The $800 million expansion will have a significant economic impact. It includes new housing and new companies moving to the area, which will drive economic growth. There will be both construction jobs and permanent jobs created, though we need to confirm the exact figures.
We owe a lot to the Healey-Driscoll administration for making this initiative happen. The city of Lowell will see increased tax revenue from these businesses, and likely from property taxes as well. During my tenure as Chancellor, we acquired much of the property for this project. This expansion is expected to generate approximately $3.7 billion economic impact for the area.
How would you describe the current strength of the higher education sector in Boston and Massachusetts, and what are some of the key challenges it faces?
The current strength of the higher education sector in Boston and Massachusetts is undeniable.. However, we do face significant challenges. One major issue is the declining enrollment rates due to demographic changes — fewer babies being born means fewer students. Higher education remains crucial. Studies show that obtaining a bachelor’s degree or higher results in higher lifetime earnings. For example, someone with a college degree earns about $1.2 million more over their lifetime than someone with just a high school diploma. It’s important to communicate this value to prospective students and the community.
How does UMass plan to address the increasing need for student mental health services and the challenges related to student wellbeing?
Addressing student mental health is a top priority for us. Additionally, the Massachusetts legislature has stepped up to offer more help. The first step in tackling this issue is recognizing that there is a problem that needs to be addressed.
Last year, UMass made student mental health a priority in our budget request, resulting in an additional $4 million in state support. We are using these funds to enhance therapy, crisis services, and other forms of counseling, as well as to launch new technology to identify students in need and expedite connections to support. We’re committed to providing the necessary resources to ensure the wellbeing of our students. Our goal is to create a supportive environment where every student can thrive.
What is your outlook for higher education in Greater Boston over the next three years?
Boston is well-known internationally as an education hub. I believe Boston and Massachusetts will continue to thrive and meet upcoming challenges which include student retention, graduation rates, and affordability.
As competition intensifies due to decreasing student population, maintaining a high-quality education will be crucial to attract students. Over the next three to seven years, we can expect significant consolidation in higher education, not just in Boston or New England, but everywhere. Staying at the cutting edge of quality education will be essential for institutions to remain competitive and appeal to prospective students.
