NEC Releases Report on Economic Impact of Financial Services Industry
On October 27, 2025, The New England Council released a new report, “The New England Financial Services Industry: Driving Innovation and Growth in Our Region and Beyond.” Prepared in collaboration with many of our members, this report highlights the tremendous economic impact of the financial services industry in New England.
In particular, the report details direct, indirect, and induced financial services industry employment in the region, finding that the industry supports nearly 800,000 jobs across New England. The report breaks down employment by state, as well as by sector, with a focus on banking, insurance, and asset management. Given the tremendous growth in new technology over the past decade, the report also explores the convergency of different sectors within the industry, as well as the impact of artificial intelligence on financial services.
This new report updates a similar report published by the Council in 2017. We are pleased to share this new report with you during this, our 100th anniversary year. We hope that this report will be a resource to policymakers in our region as they craft legislation and regulations that will impact the financial services industry, and a tool for our members to use in their own advocacy efforts.
We are grateful to the many Council member who contributed their insights and expertise to the development of this report.
If you have any questions, please contact Natasha Silva, Director of Federal Affairs, at nsilva@newenglandcouncil.com.