Baker-Polito Administration to Embark on Israeli Economic Development Mission
Mission to bolster Commonwealth’s economic competitiveness in cybersecurity, digital health
BOSTON – Governor Charlie Baker and the New England-Israel Business Council (NEIBC) today released additional details on the Baker-Polito Administration’s upcoming Economic Development Mission to Israel, focused on leveraging the Commonwealth’s unique and innovative economic climate to welcome Israel’s global leadership in the cybersecurity and digital health sectors.
“Massachusetts is one of the most innovative states in the nation and our unique economic relationship with Israel is a key driver to increase our competitiveness for the world’s emerging digital health and cyber security industries,” said Governor Baker. “This mission will provide opportunities to exchange ideas and showcase all Massachusetts has to offer, from a highly-educated and talented workforce, to top tier universities and a vibrant venture capital sector, as these startup Israeli businesses seek a home away from home to expand and create new jobs in the Commonwealth.”
The mission will build on the Commonwealth’s unique and existing relationship with Israel. According the NEIBC’s 3rd edition economic impact study, Israeli-founded companies in Massachusetts booked over $9 billion in revenue in 2015 – nearly 4 percent of the state’s Gross Domestic Product (GDP) – and employed 9,000 workers. The study also found that the growth rate of Israeli companies in Massachusetts is four times that of the Massachusetts economy as a whole.
Massachusetts recognizes a thriving digital health ecosystem, with nearly 300 innovative companies and 10 digital health innovation programs and accelerators, including an initiative announced by Governor Baker earlier this year. Cybersecurity continues to be one of the major economic growth drivers between Israel and the Commonwealth’s robust research, investment, capital and talent sectors.
Over the course of the mission, the Governor and delegation members will participate in various forums and site visits with Israeli partners seeking to do business in the Commonwealth, including but not limited to:
The delegation will include nearly 40 private sector partners, to be announced, and members of the Baker-Polito Administration, including Assistant Secretary of Innovation, Technology and Entrepreneurship Katie Stebbins, Health Connector Executive Director Louis Gutierrez, MassIT Executive Director Mark Nunnelly and Senior Advisor for Anti-Terrorism and Cyber Security, Han Olsen. The administration is partnering with the New England Israel Business Council (NEIBC), with the support of Combined Jewish Philanthropies (CJP) to host the mission at no cost to taxpayers.
About New England-Israel Business Council
The mission of the New England-Israel Business Council is to increase economic development in Israel and New England by fostering cooperation, investment opportunities and business relationships and by leading a vibrant Israeli-minded Business Community in New England. NEIBC provides a varied and diverse program of activities and events and facilitates connections between the Israeli and New England business communities and offers advice on doing business in these two regions. www.neibc.org.