Top States for Business

14. Massachusetts

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The education heritage runs deep in the Bay State, but high costs create some challenges.

Massachusetts Score and Ranking

Category 2021 Score 2021 Rank 2019 Rank 2021 Grade
Cost of Doing Business794947F
Infrastructure1832948C
Life, Health & Inclusion2558--B+
Workforce22395B+
Economy1382818B-
Business Friendliness873214C-
Access to Capital14966A-
Technology & Innovation14023A+
Education12311A+
Cost of Living84647F

Economic Profile

Governor: Charlie Baker, Republican

Population: 6,893,574

GDP growth (Q1 2021): 6.9%

Unemployment rate (May 2021): 6.1%

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

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