DOING BUSINESS IN MASSACHUSETTS

617-788-3610
peter.milano@mass.gov
www.mass.gov

Doing business in MassachusettsOne 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
Doing business in Massachusetts
Annisquam lighthouse in Massachusetts (Photo: Adobe Stock/Christian Delbert)

  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

From the July / August 2023 issue of Business Facilities

  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.

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