On August 10, 2018, Governor Baker signed legislation, created by a collaboration between Jewish Community Relations Council of Greater Boston and state legislators, authorizing $250,000 for the facilitation and support of the Massachusetts-Israel Economic Connection operated by the New England Israel Business Council, Inc. to continue to pursue economic collaboration between Israel and the Commonwealth.
“JCRC recognizes the rich entrepreneurial and innovative culture of the state of Israel. We are grateful to our partners in the Legislature and Administration for creating the Massachusetts-Israel Economic Connection in order to capitalize off of the vast potential that the country provides,” said Aaron Agulnek, Director of Government Affairs, Jewish Community Relations Council of Greater Boston. “Massachusetts possesses a devoted workforce, premier colleges and universities, and cutting-edge life science and hi-tech sectors, making it a natural home for Israeli founded businesses. Other states and municipalities, however, are taking aggressive action to cut into our competitive edge. This initiative will help expand the collaborations and keep Mass at the top.”
“We are grateful that JCRC led the efforts with the Legislature to support the Massachusetts-Israel Economic Connection,” said Dan Trajman, CEO of the New England Israel Business Council, Inc. (NEIBC). “The more than 9000 jobs created by Israeli-related companies in Massachusetts are a testament to NEIBC’s mission. With the legislature and governor’s support, we will expand Israeli business presence, despite the mounting competition, by helping local companies increase their footprint and ensuring that new companies will choose Massachusetts as their US base of operations.”
“There are more than 200 Israeli-founded businesses in the Boston area alone, creating thousands of high-paying jobs in our life sciences and IT industries. These connections also create opportunities for Massachusetts companies to expand their operations to Israel. Strengthening our state’s economic ties with Israel strengthens opportunities for our businesses and our workers, and this is something we wanted to continue to encourage in the Economic Development Bill,” said Senator Eric P. Lesser, Senate Chairman of the Committee on Economic Development and Emerging Technologies, who authored the bill.
As competition for US/Israeli relationships continues to grow, this initiative promotes Massachusetts as the right home for Israeli businesses. A 2016 study showed that Israeli-founded business in the Commonwealth book over $9 billion of revenue and generate over $18 billion in economic benefit in Massachusetts. They also support over 27,000 jobs in Massachusetts.
“It is so important for Massachusetts to encourage the continued economic relationship with Israeli companies,” said Senator Cynthia Stone Creem, Senate Majority Leader. “It will help solidify our state’s reputation in the high tech and biotech fields as we support research and development opportunities.”
The Massachusetts-Israel Economic Connection initiative will focus on deepening ties between Israeli entrepreneurs and the Massachusetts ecosystem through travel, exchange, relationship development, and job creation.
“I am grateful that the Massachusetts Legislature has successfully included the Massachusetts-Israel Economic Connection in the Economic Development Bill,” said Representative Ruth Balser. “Economic collaboration with Israel has proven time and again to be a great resource to both the economy and the people of Massachusetts. The synergy between the Massachusetts and Israeli economy is clear and this initiative will help to develop the jobs of today and tomorrow.”
The Massachusetts-Israel Economic Connection will promote Massachusetts as the right home for Israeli businesses, utilize the NEIBC’s deep roots in the Massachusetts and Israeli business sectors and academic infrastructure to partner with regional public, quasi-public, and private organizations dedicated to economic development in emerging industries.
"Massachusetts' economy has thrived because our state's policy and business leaders have made a strategic effort to foster key global partnerships," said Representative Antonio F. D. Cabral. "This investment in the Massachusetts-Israel Economic Connection will enhance this dynamic and allow for further growth in areas such as cybersecurity and the life sciences industry."