Israeli-founded companies based in Massachusetts brought in $9.3 billion to the state last year, continuing to outpace the state’s economy in overall revenue and job growth, according to a new report Wednesday by the New England-Israel Business Council.
When factoring in the impact of spending on goods and services, such as office space, marketing and other business needs, that figure nearly doubles, to $18.1 billion, the report finds.
Some 200 companies employ nearly 9,000 people in Massachusetts, up from some 6,600 employees three years ago, when NEIBC released a similar study. Both studies were conducted by Stax, Inc, a strategic management consulting firm, with support from the Combined Jewish Philanthropies of Greater Boston.
In that time, the revenue from the Israeli-founded companies grew twice as fast as the Massachusetts economy overall and now represents nearly 4 percent of the state’s entire economy.
— JTA
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