POPULATION: 6,398,743
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Healthcare, financial services, higher education, travel and tourism, information technology, defense, biotech, medical devices, precision manufacturing, transportation and utilities, retail
EXPANDING INDUSTRIES: Biotech manufacturing, marine technology, nanotechnology, medical technology, energy technology, defense, wireless technology, robotics
COLLEGE GRADUATES: (Age 25 and over) 37% (2005)
BASIC BUSINESS TAXES:
Single Sales Factor: Yes
Corporate Excise (Income) Tax: $2.60 per $1,000 worth of property located in Massachusetts; 9.5 percent of apportionment
Sales and Use Tax: 5 percent of gross receipts from retail sales or storage, use, or consumption of taxable property; local sales taxes are prohibited by law; sales and use tax exemption for R&D property
Property/Real Estate Tax: Levied by individual localities at varying rates
BUSINESS INCENTIVES:
One-Stop Shopping: Business Resource Team
Economic Development Incentive Program (TIF)
Streamlined Permitting
Free Site Selection Services
$100 Million Infrastructure Fund
Emerging Technology Fund
Job Incentive Payment Program
Investment Tax Credits
Corporate R&D Tax Credits
Workforce Training Fund
Hiring Incentive Training Grant