The Association of Independent Colleges and Universities of Massachusetts (AICU Mass) said its 59 independent, nonprofit college and university members have an annual economic impact of $71.1 billion, generate $2.4 billion in tax revenue for the state, and collectively support 320,800 jobs. Colleges and universities spend $35 billion on operations, alumni who live and work in the area have the spending power of $28 billion, the institutions have $4.4 billion in capital spending, and the campuses spin off $3.6 billion in ancillary spending, according to the study conducted by national research firm Econsult Solutions, Inc.
