#45 Massachusetts


2.24 out of 10 in Taxation and Regulation

6.49 out of 10 in Workforce Quality

5.63 out of 10 in Living Environment

Right to Work?

Regional Profile – Northeast

STATE
OVERALL REGIONAL RANK
TAXATION & REGULATION REGIONAL RANK
WORKFORCE QUALITY REGIONAL RANK
LIVING ENVIRONMENT REGIONAL RANK
Connecticut
9
10
6
5
Delaware
11
11
3
2
Maine
3
5
5
9
Maryland
7
8
11
8
Massachusetts
8
9
1
6
New Hampshire
2
2
2
1
New Jersey
10
6
9
11
New York
11
11
8
10
Pennsylvania
4
3
4
4
Rhode Island
6
7
7
7
Vermont
5
4
10
3

Key Industries

Biotech

Key Companies

BJ’s Wholesale Club

Boston Scientific

EMC Corp.

Global Partners

Raytheon

The TJX Companies

Staples

Advantages

Unemployment is below 5% and Massachusetts is the 12th largest state economy.

GE has pledged to bring 800 jobs to the Boston area.

Challenges

The state government’s inaction on raising net metering caps and reforming the solar program has haulted construction of 671 million in solar projects, which could cost the state $3.2 million in annual tax revenues.

Key Contacts

Office of Business Development

Annamarie Kersten, EDIP Director
617-973-8534
10 Park Plaza, Suite 3730
Boston, MA 02116

annamarie.kersten@state.ma.us
http://www.mass.gov/hed/economic/eohed/bd/

CEO Comments

“Massachusetts needs a major highway overhaul, traffic into and out of Boston is terrible and [there haven’t been any] road upgrades in over 20 years.”

“Massachusetts is improving slightly but has a long way to go.”

Current Developments

Regional Report: Northeast 2016
March 18, 2016

7 Best States for Startups
May 8, 2014

How 11 CEOs Unplug and Power Down
November 5, 2015

YOU MIGHT ALSO BE INTERESTED IN…

No 45: Massachusetts

No. 45

Massachusetts

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations
  • State Corporate Income Tax Rate: 8.75%
  • Highest Personal Income Tax Rate: 12%
Workforce Quality
  • % with High School diploma or more: 88.7
  • % with Bachelor’s degree or more: 38.1
  • % with Advanced degree or more: 16.4
  • Patents per 100K: 74.66
  • % of Employed Represented by Unions: 15.6
Quality of Life
  • Hopsitals per 10K: 0.123
  • Elementary/Secondary Schools per 1000 people: 0.292
  • Violent Crimes per 100K: 436.38
Key Companies
  • State Street Corporation
  • Raytheon
  • The TJX Companies
  • BJ’s Wholesale Club, Boston Scientific
  • Smurfit-Stone Container
Other Highlights
Massachusetts rose from #46 in 2009 and 2010 to #45 in 2011 Massachusetts ranks 1st in state debt per capita with $11,357

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education