BAKER-POLITO ADMINISTRATION EMBARKS ON ISRAELI ECONOMIC DEVELOPMENT MISSION

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Governor Charlie Baker and the New England-Israel Business Council (NEIBC) are leading an economic development mission to Israel this week designed to bolster the Commonwealth’s economic competitiveness in cybersecurity and digital health.

Massachusetts has 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.

Governor Baker said the mission provides “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 Massachusetts-Israel business connection is already strong. 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.

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. Nearly 40 private sector partners are participating, along with staff from the Baker-Polito Administration.