(This is a snapshot of the economies in Israel and the UK during the time of the trade mission in 2011)
There are currently 478 companies with UK-ties in Massachusetts. Of these, 225 UK-owned companies in the state employ 40,100 Massachusetts residents. Additionally, 253 Commonwealth-based companies have established operations in the UK. Massachusetts companies exported over $4 billion worth of goods to the UK in 2009 and the United States is the UK's second largest source of imports at 9.74 percent. Local firms exported over $180 million worth of goods to Israel in 2009 and, at 12.35 percent, the United States is Israel's largest source of imports.For two years in a row, the UK has been the largest market for Massachusetts exports. Like Massachusetts, Israel and the UK boast thriving technology, life sciences and clean energy economies and the opportunities for collaboration and investment are significant.
- In 2011, there were nearly 100 companies with Israeli founders or Israeli-licensed technologies in Massachusetts. In 2009, these companies employed nearly 6,000 people and generated $2.4 billion in direct revenue for the state.
- The UK's Information Communication Technologies sector is the largest in Europe, and employs over a million people. Israel's life sciences industry has grown steadily over the past decade, with more than 1,000 active companies and 80 new start-ups each year. The UK is a global leader in offshore wind and has one of the largest renewable deployments in the world.