“We are proud to be a state of strong cities and towns, made stronger by programs like the Community One Stop for Growth, which delivers critical resources to grow local economies. By keeping our focus at the local level, we are creating opportunity, supporting affordability, and enhancing quality of life for all in Massachusetts.”
— Governor Maura Healey
Annisquam lighthouse in Massachusetts. (Photo: Adobe Stock/Christian Delbert)
TOP BUSINESS FACILITIES RANKINGS
#1 Life Science Leaders
2024 State Rankings
Top 5 Tech Talent Pipeline
2024 State Rankings
Top 10 AI Growth Hubs
2024 State Rankings
Top 10 Foreign Direct Investment
2024 State Rankings
#3 Medtech/Medical Devices
2024 State Rankings
Top 10 Outdoor Recreation
2024 State Rankings
Top 5 Agritech: Boston
2024 Metro Rankings
Top 5 Top Performing Container Ports: Port of Boston
Life Sciences: Massachusetts is the global epicenter for the life sciences industry. To continue to cultivate innovative companies, Massachusetts is elevating cross-sector collaboration to explore ways to keep residents healthy, instead of waiting until people are sick.
Climatetech: Massachusetts is situated to be a leader in climatetech. As a state that is advancing strong public policy to confront the existential threat of climate change, Massachusetts must seize the opportunity to catalyze new leadership in the climate technology sector.
Small Business Support: Small businesses comprise a major segment of the Massachusetts economy, supporting nearly 45% of the state’s employees. Massachusetts is establishing an economic strategy that enables small businesses to grow and thrive.
TOP PROJECTS (CAPITAL INVESTMENT)
COMPANY
LOCATION
INVESTMENT
FM Global
Norwood
$593 million
Sublime Systems
Somerville
$157 million
Novo Nordisk A/S
Lexington
$100 million
Werfen
Bedford
$50 million
Granite Telecommunications
Quincy
$23 million
FAST FACTS
Population (2024 est.): 7,020,060¹
Largest Cities (2024 est.): Boston (654,423); Worcester (209,566); Springfield (153,337); Cambridge (119,008); Lowell (114,401)¹
Real GDP (2023): $615.5 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.
Grants will help 16 underserved and overburdened communities recruit, train, and place workers for community revitalization and cleanup projects at brownfield sites.
Highlighting the life sciences industry’s evolution, JLL’s new 2024 Life Sciences Real Estate Perspective and Cluster Analysis introduces new rankings for talent and AI.
