617-788-3610
“One Stop is a vital economic development tool to spark growth, spur development and strengthen local economies across the state. These funds will help make possible community-led projects that build vibrant downtowns and unlock economic potential in every region of Massachusetts, while creating new jobs, housing, and opportunity.”
— Governor Maura Healey
TOP BUSINESS FACILITIES RANKINGS
#1 Life Sciences | 2023 State Rankings |
#3 Tech Talent Pipeline | 2023 State Rankings |
#3 Medtech/Medical Devices | 2023 State Rankings |
Top 5 EV Charging Infrastructure | 2023 State Rankings |
Top 10 Broadband Access | 2023 State Rankings |
Top 10 FDI (Projects) | 2023 State Rankings |
#2 Smart Cities: Boston | 2023 Metro Rankings |
#3 Top Performing Container Ports: Port of Boston | 2023 Metro Rankings |
Top 10 Tech Talent Leaders: Boston | 2023 Metro Rankings |
Top 5 Financial Centers (North America): Boston | 2023 Global Rankings |
TARGETED GROWTH SECTORS
Finance: Financial companies make up an important part of the state’s economy. Financial companies operating in the state include names such as Fidelity Investments, Liberty Mutual Group, and the Massachusetts Mutual Life Insurance Company.¹
Biotechnology: Massachusetts’ capital city, Boston, is the hub for the state’s biotechnology industry. The city, as well as the neighboring community of Cambridge, both house nearly 1,000 biotech companies.¹
¹ Source: www.WorldAtlas.com
NOTABLE PROJECTS
By the end of 2026, the LEGO Group will move its head office for the Americas from Enfield, CT to Boston, MA. The Commonwealth’s Economic Assistance Coordinating Council approved three projects for participation in the Economic Development Incentive Program. The projects are expected to create 230 net new jobs while leveraging roughly $115 million in private investment. State leadership also announced $164 million for more than 330 grant awards to support local economic development projects statewide.
FAST FACTS
Population (July 2022 est.): 6,981,974¹
Largest Cities (2020): Boston (674,272); Worcester (206,242); Springfield (155,556); Cambridge (117,699); Lowell (115,264)¹
Real GDP (2022): $543.8 billion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
WORKFORCE DEVELOPMENT
The Economic Development Incentive Program fosters job creation and stimulates business growth. Companies can receive state tax credits and/or local property tax incentives in exchange for a commitment to new job creation, existing job retention, and private investment.
Community One Stop for Growth is an application portal overseen by the Executive Office of Economic Development that provides a streamlined process for municipalities and organizations to apply for 13 state grant programs that fund certain economic development projects.
LATEST NEWS
New England Continues To See Economic Improvement
As part of its rebounding economy, the New England region has seen its unemployment rate reach its lowest point since 2000.
2024 Top Utilities
These top utilities play a key role in state and local economic development endeavors, as well as sustainability efforts.
New York, Illinois, Massachusetts Lead 2023 Top 10 States For Green Building
For the first time ever, New York has earned the top spot on the U.S. Green Building Council (USGBC) annual list of Top 10 States for LEED.