Boston Children’s Hospital and Brigham and Women’s Hospital announced that they are the recipients of a very generous donation by a local businessman.
Quincy, Ma – Granite Telecommunications CEO Rob Hale announced that he and his wife Karen will be making generous donations to two local hospitals. Both Boston Children’s Hospital, as well as Brigham and Women’s Hospital will be receiving $50M donations.
Granite Telecommunications has long supported the Boston area with generous donations. The Quincy MA native has donated millions of dollars over the years to a variety of charitable causes.
Karen Hale is a member of the Brigham and Women’s Cancer Research and Care Advisory Board. Rob holds a seat as chair of Brigham and Women’s Life Giving Breakthroughs campaign along with serving on the Steering Committee for Boston Children’s Dream, Dare, Deliver campaign.
In a recent release,Rob stated:
“Karen and I see Boston as an epicenter for far-reaching medical advances. Both Boston Children’s and the Brigham are international leaders in their research and understanding of diseases. With our $100 million investment in these two world-class institutions, we hope to impact millions of patients.”
“Their extraordinary generosity will fuel innovation and discovery that will one day eradicate some of the world’s most complex diseases and conditions”, said Betsy Nabel, MD, president of Brigham and Women’s Hospital. The couples donations will provide needed supplies and fund research at both hospitals.
Effects on the Local Economy
When large amounts of money is injected into the local economy, the long term benefits can be seen in a variety of industries. Real estate is one of the major benefactors of such contributions. The real estate in Quincy has seen solid growth over the years indirectly from these new jobs created. The medical industry obviously sees growth as well as the construction industry and the service industry.
How These Funds Affect Real Estate
When new jobs are created from the influx of funds, new homes are purchased in Quincy and the surround areas of Boston MA. Whether the new homes are built or simply more demand is inserted for the existing homes, the effect is still the same…Increased home values.
When home values in Quincy MA go up, that too has effects in other local industries. From home inspectors, to mortgage companies to insurance companies to local Realtors to handymen to lawn-care companies. In addition, when a home is purchased, we generally see a buying spree take place from the new homeowner. When people move to a new area and purchase a home, they usually end up buying:
- New furniture and bedding
- New televisions and electronics
- Rugs and interior design pieces
- Home improvement items
- Other items not generally recognized as spurred from a home purchase.
100 Million Dollars Changes The Landscape
When a local philanthropist such as Mr. Hale of Quincy MA donates such a large sum of money to local hospitals, the effects are felt for decades. The quality of life for the people of Quincy, Boston and the surrounding areas are made better in many more ways than the improved healthcare.