From its world-class universities and hospitals, to its vibrant economy and broad base of support industries, Massachusetts has all the ingredients your business needs to thrive:
- One of the most highly-educated workforces in the nation. With close to 300 colleges, universities, research institutions and teaching hospitals, Massachusetts has the highest concentration of educational institutions in the US and has produced half of all the Nobel Prize winners in the country
- A capable and reliable group of local suppliers that gives businesses a strong support network and a distinct competitive advantage
- A state government that fosters and protects a unique business environment focused on innovation
- Proximity to airports throughout the region. Massachusetts is just a one-hour flight from 40% of the US market and 67% of the Canadian market. Direct flights between the UK and Boston’s Logan Airport make business travel enjoyable and timely
- Airport capacity has expanded with over 50 non-stop, direct international flights and close to 80 domestic. Boston’s Logan Airport easily meets the needs of the regular business traveller
- The state boasts a transportation network of over 34,000 miles of roads and highways with nearly half of the population of the US located within a 12-hour drive
- Massachusetts has over 1,200 miles of rail lines, served by 9 rail centres. Direct rail-to-port access makes intermodal transportation a major feature of the transportation network
- Six deep-water seaports (Boston, Fall River, Gloucester, New Bedford, Salem and Plymouth) located one day closer to Europe than other major US ports
- Massachusetts is renowned for its world-class health care and medical research facilities. The industry attracts scientists, doctors and patients from around the world
A LEADER IN INNOVATION
Massachusetts fosters its unique business environment focused on innovation, with a Gross State Product growth rate of 4.7% against the US growth rate of 2.6%. Furthermore, its economy has recovered from the economic downturn faster than any other state with more jobs added every month.
Massachusetts is a leader in sectors such as clean energy, biotechnology, telecommunications, photonics, medical devices, advanced materials, pharmaceuticals, information technology and nanotechnology. It has the highest level and fastest growth rate among Leading Technology States (LTS) in federal expenditures for academic and non-profit R&D and has the highest level of funding from the National Institute of Health per dollar of GDP than any other LTS. Perhaps for these reasons, the UK is Massachusetts No.1 European trading partner.
ENVIRONMENTAL AND RENEWABLE ENERGY
Massachusetts is a leader in renewable energy. State and federal regulatory initiatives, together with the support of academic research, and assistance and funding from venture capitalists and bankers, have helped to place Massachusetts’s energy and environmental policy on the global map. Massachusetts is also leading the way in developing new technologies in these fields, including wind and biomass energy.
MANUFACTURING AND OTHER SECTORS
Massachusetts is a key centre for mass-produced goods such as paper products, machinery, machine tools, chemicals, metals, composite materials, textiles and footwear. It also maintains a strong presence in financial services and insurance, marine science & technology and defence technology.
COMPETITIVE INCENTIVES TO HELP YOUR BUSINESS
Massachusetts offers many tax incentives, financing solutions, competitive grants, loans and plentiful guidance to companies and businesses seeking to invest, expand or relocate in the state. These include broad-based and sector specific grants, awards and incentives offered in collaboration with agencies such as the Massachusetts Office of Business Development; he Massachusetts Life Sciences Center; the Massachusetts Clean Energy Center and the Massachusetts Technology Collaborative. Massachusetts leads the United States in venture capital investment per capita. Angel investment nearly doubled between 2009 and 2011, from an estimated $27 to $51 million to $50 to $100 million.
QUALITY OF LIFE
Massachusetts is a great place to visit, live, work and raise a family. Residents and visitors alike can enjoy stunning scenery, beaches, museums and historical landmarks, great shopping and world-class restaurants. Come experience the history, culture and innovation of Massachusetts, which has shaped America for nearly 400 years.
For more information, contact:
Massachusetts Office of International Trade & Investment
10 Park Plaza
Boston, MA 02216
Tel: +1 617-973-8650