Home » 2014 Best & Worst States » Massachusetts is 46th Best State for Business 2014

Massachusetts is 46th Best State for Business 2014

Massachusetts is considered one of the seven best states for startups. Cambridge, home to Harvard and MIT, ranked as the No. 4 metro on the Kaufmann Index for high-tech startup density, and entrepreneurs brewed by those educational institutions often stay in and around Boston. In addition, Massachusetts ranked No. 25 overall by the Tax Foundation, while the Suffix University Index (based in Boston) ranks the state business climate No. 1 in the country.

Previous State: Michigan Next State: New Jersey

No. 46 Massachusetts

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 1.6
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -0.3

Unemployment

  • Unemployment Rate Dec. 2013 %: 7
  • Comparison with Nat’l Rate (6.70%): 0.3

Domestic Migration

  • Domestic Net Migration 2013: -2,833
  • Rank: 33

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 11,790
  • State & Local Gov’t Employees per 10k Residents: 517.5

State-Local Tax Burden

  • Rate (%): 10.4%
  • Compared to Nat’l Avg. (9.9%): 0.57%
Key Companies
  • State Street Corporation
  • Raytheon
  • The TJX Companies
  • BJ’s Wholesale Club
  • Boston Scientific
  • Smurfit-Stone Container
Development Trend Indicator: Negative
At least state legislature is resisting Gov. Patrick push for highest minimum wage.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon is the Editor-in-Chief of Chief Executive magazine.