Top States for Business

24. Massachusetts

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Massachusetts Score and Ranking

CATEGORY  2022 SCORE  2022 RANK  2021 RANK  2022 GRADE 
WORKFORCE222249C+
INFRASTRUCTURE1843129C-
COST OF DOING BUSINESS774949F
ECONOMY1642628C-
LIFE, HEALTH & INCLUSION204138C+
TECHNOLOGY & INNOVATION167102B+
BUSINESS FRIENDLINESS1072132C
EDUCATION13111A+
ACCESS TO CAPITAL4166A-
COST OF LIVING44746F
OVERALL13012414

Economic Profile

Governor: Charlie Baker, Republican

Population: 6,984,723

GDP growth (Q1 2022): 0.2%

Unemployment rate (May 2022): 3.9%

Top corporate tax rate: 8%

Top individual income tax rate: 5.00%

Gasoline tax: 26.54 cents/gallon

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

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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