Massachusetts Education Industry

Harvard University by a big margin contributes the most for the state economy. In 2016, the student community, all of 34,202, that include undergraduates, professional, graduates and extension school participants, had a direct or indirect impact on the economy.The Puritans, settled in Boston, in the 1630s believed in the power of learning, not of worldly concepts but theological morals. For them, educating children, or at least giving them the capability to read the Bible was essential for a well-rounded life on Earth and thereafter. Respect for the government was proclaimed in the Bible. Literacy was a paramount virtue, and to fulfill the qualities of a responsible and religious citizen, the first formal school - the Boston Latin School was opened in 1635.

The 1647 Massachusetts School Laws led to the first publically funded schools in Massachusetts, with small tuition fee or support for the schoolmaster demanded in return from the children’s family. The Schools were a training ground for Harvard College (Founded in 1648) – the prestigious church-sponsored institution of the time.




Apart from Harvard Business School and MIT Sloan School of Management, Boston Carroll School of Management, Boston University Questrom School of Business, consistently feature in the Top 30 Business School in the US.

Harvard University by a big margin contributes the most for the state economy. In 2016, the student community, all of 34,202, that include undergraduates, professional, graduates and extension school participants, had a direct or indirect impact on the economy. For instance, $317.6 million were spent on local purchases and salaries for the support staff. Over Eighteen thousand people were directly employed by Harvard University, enabling a sub-economy exclusively to meet the need of the huge support staff and students. The total expenses in 2016 ran at $2.8 billion, out of which, $1.4 billion was spent in the state for supplies and services.