25. Massachusetts

The Bay State is a cradle of innovation, with a deep heritage of educational quality. Businesses must pay dearly to operate in the state, where wages and costs are high.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 96 46 47
Workforce 158 20 (Tie) 28
Quality of Life 221 7 13
Infrastructure & Transportation 98 45 40
Economy 243 19 3
Education 121 3 7
Technology & Innovation 245 5 (Tie) 7
Business Friendliness 117 21 21
Cost of Living 6 45 43
Access to Capital 21 (Tie) 9 1
Overall 1326 25 16

Economic Profile

Governor: Deval Patrick, Democrat

Population: 6,692,824

GDP growth: 1.6 percent

Unemployment rate (May 2014): 6 percent

Top corporate tax rate: 8 percent

Top individual income tax rate: 5.2 percent

Gasoline tax: 45 cents/gallon

Bond rating/outlook: Aa1/stable

Major private employer: Massachusetts General Hospital

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Boston Redevelopment Authority

Top States for Business

From the Governors

Latest Special Reports

  • Piggybanks navigating a maze

    Americans continue to worry about persistent inflation, ongoing market volatility and the possibility of a recession. Many are working to manage the impact on their retirement and savings. The implications of all this economic uncertainty, as well as changes in tax laws, bring new considerations for individuals and especially those retirees planning for and managing future finances.

  • Between new federal tax bill changes and underutilized deductions, CNBC finds ways to save money while filing taxes.

  • Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.