President-elect Caret joins Governor Patrick on Innovation Economy Mission to Israel, United Kingdom
BOSTON - UMass President-elect Robert L. Caret is joining Governor Deval Patrick and a coalition of state officials and business leaders on the Massachusetts Innovation Economy Partnership Mission 2011 to Israel and the United Kingdom. The coalition will explore growth opportunities within the Commonwealth's innovation-based industries - technology, life sciences, clean energy and financial services - and areas of common interest between the state's established and emerging partners in Israel and the UK. The mission begins today.
"I'm happy to have President Caret joining our great coalition of leaders on this trade mission," said Governor Patrick. "Doctor Caret and the University of Massachusetts are at the forefront of our innovation economy, and we know his expertise - and the University's expertise -- will go a long way towards forging lasting economic ties and partnerships between Massachusetts, Israel and the UK."
As a scientist and higher education leader, President Caret will further the mission's goals of identifying new research and economic development opportunities. During the trip, President Caret will take part in roundtable discussions, company visits and meetings with government and business officials with Governor Patrick and the delegation in Tel Aviv, Haifa, Jerusalem, London and Cambridge.
"I'm honored to be joining the Governor and the rest of the delegation on this trade mission," said President Caret. "I believe this is an important opportunity for our Commonwealth to explore new academic, research and economic-growth opportunities."
Currently serving as President of Towson University, President-elect Caret will succeed UMass President Jack M. Wilson when he steps down on June 30.
The Massachusetts delegation arrives in Israel today and will depart the United Kingdom on March 17 to return to Boston.
Today, there are 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. 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.
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. For two years in a row, the UK has been the largest market for Massachusetts exports.
Starting March 7, please visit www.mass.gov/governor/innovationmission for more information and regular updates about the trip.
Contact: Robert P. Connolly, 617-287-7073
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