May 9, 2025
Boston Business Journal recently published an article featuring Mark Williams, Master Lecturer of Finance, discussing how federal research funding cuts, particularly from the NIH, could cost Massachusetts up to $2.2 billion in economic activity and 14,000 jobs next year.
Williams estimates that by 2028, losses could reach $9 billion and 64,000 jobs. The impact extends far beyond universities, affecting hospitals, real estate, restaurants, law firms, and more. Massachusetts receives more NIH funding per capita than any other state, and each $1 million in funding generates $2.56 million in economic activity and 8.2 jobs.
Cutting research funding harms the broader state economy, not just academia, and urges public opposition to the cuts.
