POPULATION: 6,437,193
LABOR FORCE: 3,294,200
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: Life sciences, manufacturing, information
technology, energy,
defense, creative economy
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
Investment tax credits
Corporate R&D tax credits
Workforce Training Fund
Hiring Incentive Training Grant
