President’s Bulletin
August 2024
Celebrating 40 Years: Reflections from the President
A look back at four decades of leadership and the opportunities ahead
Massachusetts’ tech-driven economy has transformed dramatically since I joined the Massachusetts High Technology Council in 1984, a pivotal time when the state was emerging as a significant player in the technology industry. Back then, the economy was transitioning from its traditional manufacturing roots to a knowledge-based economy marked by advancements in technology, research, and development. As I reflect on the past 40 years, I see a global Massachusetts economy that has evolved in remarkable ways, crafted by private-sector leadership and shaped by shifting political trends—factors that underscore the ongoing need for the Council and its distinguished leadership.
The 1980s Tech Boom: Defining Our Future Economy
In the 1980s, Massachusetts’ high-tech economy was vibrant and dynamic, anchored by the minicomputer industry and supported by a robust ecosystem of research institutions, venture capital, and entrepreneurial activity. Digital Equipment Corporation (DEC), led by Ken Olsen and headquartered in Maynard, Massachusetts, was a dominant force. DEC’s PDP and VAX series of computers were widely used in both business and scientific applications, driving significant economic growth in the region. Other Massachusetts companies, including Analog Devices, Data General, Prime Computer, and Wang Laboratories, were establishing our state as a global leader in computing technology.
However, this success came with challenges. The intense competition within the minicomputer industry led to price wars and profit pressures, particularly as companies like IBM began to dominate the personal computer market. Additionally, the rise of Silicon Valley as a formidable rival to Massachusetts and the Route 128 Corridor posed new threats as the West Coast’s focus on microprocessors and software began to overshadow the minicomputer industry.
Leading Through Change: Private Sector Leadership
Much of Massachusetts’ strategic response to these challenges was driven by its private sector leaders. From day one, I had the privilege of working alongside global innovators who not only navigated their Massachusetts-based companies through industry changes but also played crucial roles in shaping state policies that reduced barriers to investment and fostered employment growth.
Howard Foley’s 1984 interview in Mass High Tech newspaper.
For instance, Ray Stata’s commitment to innovation at Analog Devices was evident in the company’s focus on analog technology, which set it apart in a rapidly digitalizing world. Ed DeCastro’s work at Data General led to the development of groundbreaking products like the Eclipse minicomputer. Art Goldstein, as CEO of Ionics, drove innovation in water purification technologies, while Pete Nicholas, co-founder of Boston Scientific, pioneered less-invasive medical devices that revolutionized patient care. These leaders engaged directly and fearlessly with complex public policy challenges.
In a 1984 interview, Council President Howard Foley highlighted the unique characteristics of our membership: “a high level of CEO commitment, high value-added products, rapid growth, an international marketing orientation, and a high proportion of scientists, engineers, and R&D investment.”
He emphasized that we sought CEOs “willing to do the work,” as the Council’s strength has always come from its members’ active participation.
Up Next: MassVision2050
Reflecting on my 40-year career, I am filled with pride and gratitude for the journey we have taken together and the future we are charting under MassVision2050. I’ve been inspired by the principled leaders who have collaborated to create, defend, and sharpen Massachusetts’ ability to remain a leading state for a highly educated workforce, innovation, and investment.
From the start, our mission at the High Tech Council was clear: to make Massachusetts the best place in the world to live, work, and build a technology-driven business. Achieving this required a multifaceted approach that brought together leaders from industry, government, and academia.
The Council has consistently stepped up to lead critical statewide competitiveness strategies, including key initiatives like Proposition 2½ in 1980, the 1986 state tax revenue growth limit, and the creation of the state R&D tax credit in 1992.
More recently, we have continued to make an impact by leading the 2005 federal Base Realignment and Closure (BRAC) strategy, winning the 2018 Supreme Judicial Court challenge against a proposed tax amendment to the State Constitution, developing the Massachusetts COVID-19 Recovery and Return to the Workplace Framework that helped senior executives and policymakers understand COVID and shaped response plans statewide, and launching the Mass Opportunity Alliance in 2023.
These successes rest on the principle of Council leaders “doing the work,” a tradition that has guided us for 47 years under our tagline, “Dedicated to Growth, Committed to Action.”
I am incredibly proud of our accomplishments and our leadership team from global leaders like MKS Instruments, Rapid7, PTC, Thermo Fisher Scientific, MilliporeSigma, Suffolk Construction/Technologies, UKG, Franklin Templeton (Putnam Investments), Azenta Life Sciences, Onto Innovation, and more.
The Council has been a catalyst for positive change, helping to transform the state into a global leader in technology and innovation. But more than that, it has been a privilege to work with so many talented and dedicated individuals—colleagues, partners, and leaders—who share a common vision for the future and are willing to commit their time, talent, and resources to achieve it.
The majority of business, professional services, and research institution leaders in Massachusetts care deeply about their role in this vision.
In three years, we’ll celebrate the Council’s 50th anniversary. The foundations we have built are strong, and I look forward to working with and for inspiring private sector leaders in continuing to help Massachusetts lead the way in innovation for generations to come.