Press Release: Eric Paley Named Massachusetts Economic Development Secretary
BOSTON, MA – Governor Maura Healey has appointed Eric Paley, a seasoned venture capitalist from Greater Boston, as the new Economic Development Secretary for Massachusetts. Paley, co-founder and managing partner of Founder Collective based in Cambridge and New York City, will assume his role in September, succeeding Yvonne Hao, who stepped down in April.
With 25 years of experience as an entrepreneur and investor, Paley’s portfolio includes high-profile companies such as Uber, The Trade Desk, Omada Health, and Airtable. Governor Healey praised Paley for his dedication to fostering growth in Massachusetts startups: “His leadership and experience are exactly what we need as we strive to enhance our economic landscape.”
Paley expressed gratitude for the opportunity, emphasizing the state’s unique strengths, including world-class talent and robust research institutions. He stated, “Massachusetts is overflowing with entrepreneurial energy, and I look forward to building on these strengths.”
Although cabinet members in Massachusetts are not required to undergo a legislative confirmation process, Paley’s appointment has garnered support from key lawmakers. State Senator Barry Finegold commended Healey’s decision, citing Paley’s blend of critical skills and private sector success as vital for the state’s economic strategy.
Paley, a resident of Lexington, holds an MBA from Harvard Business School and a bachelor’s degree from Dartmouth College. He is also actively involved as a board member for the YMCA of Greater Boston.
This appointment aligns with Healey’s commitment to bolstering the state’s economy—previously reflected in her signing of a nearly $4 billion economic development package aimed at advancing the life sciences and climate technology sectors. Lt. Governor Kim Driscoll expressed enthusiasm for Paley’s expertise, essential for supporting businesses across the state.
For further information, please contact the Governor’s Office.
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