POPULATION: 6,547,629 (2010 Census)
LABOR FORCE: 3,461,400 (Sept. 2012)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES:Creative industries, defense
and homeland security, financial
services, information technology,
life sciences, manufacturing,
maritime commerce,
renewable energy
EXPANDING INDUSTRIES: Management, scientific, and
technical consulting services;
individual and family services;
pharmaceuticals and medicine
manufacturing; home healthcare
services; computer systems
design and related services;
residential care facilities;
software publishing; scientific
R&D services
COLLEGE GRADUATES: (Age 25 and over) 38.2%
(2009 U.S. Census)
BASIC BUSINESS TAXES:
Single Sales Factor: Yes (for
manufacturing companies)
Corporate Income Tax Rate: 8 percent
Sales and Use Tax: 6.25
(machinery and equipment is
exempt)
Personal Property/Real Estate
Tax: Levied by local authorities
across the state (average rate
of $16.97 per $1,000 assessed
property value)
BUSINESS INCENTIVES:
Economic Development
Incentive Program
Investment Tax Credit
Tax Increment Financing
Research & Development
Tax Credit
Special programs, grants, and
loans provided through:
• MassDevelopment
• Mass Ventures
• Massachusetts Growth
Capital Corp.
• Workforce Training Fund
• Massachusetts Life Sciences
Center
• Massachusetts Clean Energy
Center