Massachusetts is the 47th Best State for Business 2013

Previous State: New Jersey Next State: Illinois

No. 47Massachusetts

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 
  • % Growth ’10-’11: 2.2
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.7

Unemployment

  • Unemployment Rate Dec. 2012 %: 6.7
  • Comparison with Nat’l Rate (7.80%): -1.1

Domestic Migration

  • Domestic Net Migration ’10-’11: -10,886
  • Rank: 40

State Government

  • Debt per Capita Fiscal Year ’10 ($): 11,310
  • State & Local Gov’t Employees per 10k Residents: 517.5

State-Local Tax Burden

  • Rate (%): 9.3
  • 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
Appears ready to boost income taxes and add services to sales tax.
CEO Comments
“If I were designing Hell for a company, I couldn’t do as good a job as Massachusetts has. We will be leaving the state within the next year.”

“We are moving out of CA, MI, MA and NY in 2013 and terminating our employees there. The regulatory and tax environment has become untenable.”

“Massachusetts is returning to the state of Taxachusetts, thanks to Governor Deval Patrick and the overwhelming Democratic party majority in both houses of the Legislature.”

“Taxation and regulation are always the key barometers. Massachusetts and Oregon are the worst.”

“Massachusetts has been strong economically because of small to mid-size technology driven companies. Legislators moving towards increased regulations and taxes on the group that has been successful (ex: medical device) could begin to undermine the positive direction. While there may be excitement here for early stage technology companies, more established companies may consider growth and expansion elsewhere.”

“MA is continuing its trend of raising taxes in every manner possible. Mostly through fees over past 3-4 years but now contemplating significant income tax increases.”

“Our experience in Massachusetts is that the legislature and government has an activist mentality. To the point on having obscure regulations that cover seemingly immaterial transactions. Perfect example of good intent undone by unrealistically over-reaching regulations.”

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

Previous State: #46 New Jersey Next State: #48 Illinois

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.

Share
Published by
J.P. Donlon

Recent Posts

Tech CEO Sukhinder Singh Cassidy: ‘Study Failure To Decrease It’

The CEO of global accounting software company Xero knows if she can understand a plan’s…

2 days ago

Leadership Transitions Demand Honesty, Not Just Press Releases

Handled well, a leadership transition is less a single announcement than a series of deliberate,…

2 days ago

Market Engineering Drives Market Leadership: Why Tesla Is Outpacing GM In The Age Of Narrative Advantage

Market engineering is far more than clever marketing. It’s the operating system for category ownership…

3 days ago

Building An ‘AI First’ Accounting Powerhouse

Aprio CEO Richard Kopelman on 14 deals in a year, a $300 million AI bet…

6 days ago

U.S. Manufacturers More Optimistic In May, Despite Continued Volatility

Though volatile pressure continues to temper current business forecasts in the sector, year-ahead manufacturing confidence…

6 days ago

‘We Will Not Have Stability Again’: Takeaways From The 2026 Manufacturing Leaders Summit In St. Louis

In an era of tariffs, China, AI, margin pressure and continued economic uncertainty the best…

7 days ago