By Lyle Moran, Lowell Sun
LOWELL -- UMass Lowell wants to make the city into a college town, and the university has spent millions of dollars in recent years to boost its presence in Lowell's downtown district.
The university's spending to acquire downtown properties has positioned UMass Lowell to have a hefty stimulative impact on downtown businesses, according to a new report.
UMass Lowell students, faculty and staff have the potential to spend $10 million a year in Lowell's downtown area, said the report, released by the Lowell Plan and the university.
"This study quantifies for the first time what we have long known about UMass Lowell: that the university has a significant positive impact on downtown Lowell," said UMass Lowell Chancellor Marty Meehan.
The university has increased its presence downtown with its purchase of the former DoubleTree Hotel and the former Tsongas Arena, and university officials said the report highlights the significant role UMass Lowell plays in supporting local small businesses.
Read the entire economic impact story.