WASHINGTON – Computer and video games aren’t just entertainment in the Bay State, they’re a legitimate economic driver, according to a study by an industry group released last week.
“Video Games in the 21st Century: The 2010 Report,” released by the Entertainment Software Association, said that the industry was worth $180 million to the Massachusetts economy in 2009. The economic impact includes roughly 4,500 workers and more than $210 million in direct and indirect compensation last year.
Massachusetts had the fifth-largest number of employees in the industry, trailing only California, Texas, Washington and New York.
Nationwide, the industry had a $5 billion economic impact. The study said that the more than 32,000 industry employees earn an average annual compensation of $89,781.
The report didn’t include any information about Rhode Island, but that’s likely to change in future studies. Last month, the R.I. Economic Development Corporation approved a $75 million loan guarantee to 38 Studios LLC, a video game company currently located in Massachusetts and Maryland founded by former Red Sox pitcher Curt Schilling.
The 2001 World Series MVP said that the company will bring more than 450 to the Ocean State by the end of 2012. •
PBN is now accepting applications for its newest award program and event for RI & Bristol County to celebrate the Manufacturing Renaissance that is evolving regionally and across the country. The deadline for applications is March 20th.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.