May 5, 2025
Boston Business Journal recently published an article featuring Mark Williams, Master Lecturer of Finance, discussing how federal research funding cuts under the Trump administration are impacting Boston-area colleges and hospitals and could soon lead to major job losses and economic slowdowns.
Massachusetts, a major recipient of National Institutes of Health (NIH) funding, risks losing billions in economic activity and tens of thousands of jobs, especially in life sciences and higher education. Experts warn that reduced federal support will stifle innovation, slow drug development, and cause a “brain drain” as top researchers seek opportunities abroad.
Williams said that if those cuts remain in place long-term, Massachusetts could suffer a brain drain as top scientists move to other countries that instead make those investments. By 2028, he said, the state could lose $5.4 billion to $9 billion, and up to 64,000 jobs.
In response, institutions like Harvard, MIT, and UMass Chan Medical School are implementing hiring freezes, layoffs, and cost-cutting measures.
