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 Business | 79 | 49 | 47 | F |
| Infrastructure | 183 | 29 | 48 | C |
| Life, Health & Inclusion | 255 | 8 | -- | B+ |
| Workforce | 223 | 9 | 5 | B+ |
| Economy | 138 | 28 | 18 | B- |
| Business Friendliness | 87 | 32 | 14 | C- |
| Access to Capital | 149 | 6 | 6 | A- |
| Technology & Innovation | 140 | 2 | 3 | A+ |
| Education | 123 | 1 | 1 | A+ |
| Cost of Living | 8 | 46 | 47 | F |
| Overall | 1385 | 14 | 14 |
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
