State Resources


Massachusetts Business Resources

As with many states early on in their history, agriculture was the prominent industry in the Massachusetts economy. The focus on agriculture quickly shifted to manufacturing however, as Massachusetts became a national and world leader producing textiles and machine tools during the Industrial Revolution. The last few decades have seen a shift in workers from manufacturing jobs to service jobs. One major reason for this growth in service jobs has been the increased importance of tourism.

Today services produce four-fifths of the gross state product, while manufacturing only provides one-sixth of the total. Prominent present day industries include higher education, health care, and high technology. These industries are bolstered by a particularly high proportion of professionally trained workers, which includes engineers, scientists, doctors, educators, and technicians.

Business Data

Per Capita Real GDP$46,721 Rank: 3/50 (2006)
Population6,349,100 Rank: 13/50 (2000)
Per Capita Personal Income$45,877 Rank: 3/50 (2006)
Unemployment Rate4.50% Rank: 24/50 (2008)
Business Tax Climate IndexRank: 34/50 (2008)
Corporate Tax Rate9.5%
Individual Tax Rate 5.3%
Sales Tax Rate 5%

Business Tax Climate Index

Individual Income Tax Index Rank15
Sales Tax Index Rank8
Unemployment Insurance Tax Index Rank49
Property Tax Index Rank45
Business Tax Climate Index34
Corporate Tax Index Rank46

State Information

AbbreviationMA
CapitalBoston
Nick NameBay State
State Web Sitehttp://www.mass.gov
MottoBy the sword we seek peace, but only peace under liberty

Top 5 Export Partner Countries

Canada, Netherlands, Germany, Japan, United Kingdom

Top 5 Export Merchandise

Chemicals Sales Computers and Electronic Products Sales Primary Metals Manufacturing Machinery Manufacturing Computers and Electronic Products Manufacturing

Major Cities

Boston, Springfield, Worcester

GDP

Total Gross Domestic Product (USD Millions) $351,514.00 (2007)
Per Capita Real GDP (USD)$47,351.00 Rank: 5 (2007)

Population Stats

Population 6,497,967 Rank: 15 (2008)

Age Distribution

Under 18 Population1,500,060
Under 18 Percent of Total Population24%
65 and older Population860,162
65 and older Percent of Total Population14%

Gender Distribution

Male Population48.2%
Female Population51.8%
Non-English Speaker (at home)908,415
Net International Immigration162,674
Birth Rate12.2%
Percent of People Under Poverty Level10.3%
Rank40

Expenditure

Per Capita State Spending$41,190
Rank32
Energy Expenditures per Person$3,807
Expenditures of State and Local Government Employee-Retirement Systems$4,010,621

Revenue

Personal Income$31,048
Rank3
State Internal Revenue Collection$74,782,325
Rank12
Cash and Deposits by State Government$1,353,840
Per Capita State Tax Collection$3,016
Rank14

Education

High School Graduation Rate74.7%
Rank20
Percent of Population with a Bachelor's Degree21.4%
Rank2
Percent of Population with an Advanced Degree15.7%
Rank1

Largest Universities

Boston University Harvard University University of Massachusetts, Amherst
High School Graduation Rate74.7%

Logistics

Public Road Length (Mile)35,938
Gas Tax Rate (%)21%
Highway Planning and Construction (USD Thousands)541,395
Number of Public Airports40

Main Airports

BOS: Boston

Ports

Boston Fall River Salem

Weather


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State Business Links

Boston Herald
http://www.bostonherald.com

Secretary of State

Massachusetts Secretary of State
http://www.sec.state.ma.us
The Secretary of the Commonwealth is the principal information resource for the state government of Massachusetts.

Small Business Administration

Massachusetts Small Business Administration
http://www.sba.gov/localresources/district/ma/index.html
The SBA was created in 1953 to ensure a strong and vibrant small business sector. Changes in our economy, in technology, and in society as a whole have changed the environment for small businesses, creating new opportunities, reducing barriers to success and offering new challenges. Yet, our core mission has stayed the same: to maintain and strengthen the economy by aiding, counseling, assisting and protecting the interests of small businesses.

Top 10 Business Links

Boston Business Journal
http://boston.bizjournals.com/boston/
This online version of the Boston Business Journal provides Massachusetts-specific business news and articles. Additionally, a business events calendar and other business resources are available.
Boston.com
http://www.Boston.com
Boston.com is a large news provider for Massachusetts. In addition to business news, users can find sports, lifestyle, travel, etc., news as well.
Massachusetts Alliance for Economic Development
http://www.massecon.com/
On this website, users can find information on Massachusetts regions, industries, business and industry groups, business sites, and what advantages Massachusetts offers to businesses. The news section also provides relevant business articles and updates.
Massachusetts Alliance for International Business
http://www.aimnet.org
This page provides a step-by-step guide on the basics of getting started exporting. Other useful international trade resources are available from this site, such as consulate contacts, events, and an informative international FAQs section.
Massachusetts Corporations Division
http://www.sec.state.ma.us/COR/coridx.htm
This site is available to help corporations file various business filings, such as annual reports or UCC filings. Trademarks, corporate, UCC, and corporate rejected filings databases are available to search as well.
Massachusetts Office of International Trade & Investment
http://www.moiti.state.ma.us/
This site provides information about the advantages of conducting business in Massachusetts, export promotion with analysis of select countries, special and specific country agreements Massachusetts is involved in, and upcoming international trade shows and events.
Massachusetts Small Business Development Center Network
http://www.msbdc.org/
The Massachusetts SBDCs provide services and information to help newly forming and existing small businesses. Business advising and training seminars is offered, in addition to answers to the questions most frequently asked by small businesses. Special service areas include veteran services, procurement assistance, and international trade.
U.S Commercial Service Massachusetts
http://www.buyusa.gov/massachusetts/
The Massachusetts branch of the Department of Commerce specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided. A list of business events, information on select industries, and information on various business solutions is provided free.

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