8. Massachusetts

The nation’s best workforce is in the Bay State. But businesses and residents face high costs.

MIT's robot Atlas.
John Tlumacki | The Boston Globe | Getty Images
MIT's robot Atlas.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 312 1 6 A+
Infrastructure 168 42 41 (Tie) D+
Cost of Doing Business 106 43 45 (Tie) D-
Economy 206 14 14 B+
Quality of Life 209 10 10 (Tie) B
Technology & Innovation 179 2 1 A+
Education 166 1 1 A+
Business Friendliness 93 18 20 (Tie) B-
Access to Capital 85 7 7 A-
Cost of Living 3 48 47 F
Overall 1527 8 10 -

Economic Profile

Governor: Charlie Baker, Republican

Population: 6,859,819

GDP growth (Q4 2017): 2.4 percent

Unemployment rate (May 2018): 3.5 percent

Top corporate tax rate: 8 percent

Top individual income tax rate: 5.10 percent

Gasoline tax: 26.54 cents/gallon

Bond rating (Moody's/S&P): Aa1, stable/AA, stable

Major private employers: Bay State Medical Center, Thermo Fisher Scientific

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

Top States Past Year Rankings

  • CNBC unveils its 11th annual America's Top States for Business ranking for 2017, scoring all 50 states on 10 key measures of competitiveness.

  • Top States promos Arm Wrestling

    CNBC unveils its 10th annual America's Top States for Business ranking, scoring all 50 states on 10 key measures of competitiveness.

  • Top States 2015

    CNBC unveils its 9th annual America's Top States for Business. See where your state ranks.

Latest Special Reports

  • senior couple on beach

    A fixed-income strategy is key for investors who are retired or are approaching retirement. This special report details the range of tools and strategies used to manage a fixed income portfolio.

  • The nexus of technology -- cloud, social, mobile and data -- are transforming user behaviors and creating new businesses.

  • NYSE Trader on the floor

    The buzz on the trading floor