14. Massachusetts

America's smartest state has a great workforce, but when it comes to costs, it fails the test.

Flag of Massachusetts
Getty Images
Category
Score
2019 Rank
2018 Rank
Grade
Workforce 319 5 1 A-
Economy 229 18 14 B
Infrastructure 123 48 42 F
Cost of Doing Business 83 47 43 F
Quality of Life 217 10 10 B-
Education 134 1 1 A+
Technology & Innovation 138 3 2 A+
Business Friendliness 114 14 18 B
Access to Capital 65 6 7 A-
Cost of Living 4 47 48 F
Overall 1426 14 8 -

Economic Profile

Governor: Charlie Baker, Republican

Population: 6,902,149

GDP growth (Q4 2018): 1.8%

Unemployment rate (May 2019): 3%

Top corporate tax rate: 8%

Top individual income tax rate: 5.05%

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