POPULATION: 1,052,567 (2010 estimate)
LABOR FORCE: 558,000 (Sept. 2012)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES:Finance, defense, insurance,
health services, educational
services, boat and ship building,
fabricated metal products,
machinery, jewelry
EXPANDING INDUSTRIES: Healthcare, life sciences, digital
media, renewable energy,
defense technology, financial
services, industrial products
and infrastructure services, consumer
products and design,
professional and educational
services, information technology,
marine trades
COLLEGE GRADUATES: (Age 25 and over) 38.6% (2009)
BASIC BUSINESS TAXES:
Corporate Income Tax: 3-9 percent
Sales and Use Tax: 7 percent
Municipal Property Tax: Rates vary
County Tax: None
BUSINESS INCENTIVES:
Corporate income tax
reduction for job creation
Job Creation Guaranty
Program
Innovation Tax Credit
Alternate flat tax rate
computation
Manufacturing Investment
Tax Credit (4%)
High-Performance
Manufacturing Investment
Tax Credit (10%)
R&D Tax Credit (22.5%)
R&D sales tax exemptions
Job Training Tax Credit & grants
State enterprise zones
Small business capital investment
tax incentives
Bond, insurance, and small
business financing
Financial services/insurance
incentives
No sales tax on boats and on
aircraft, aircraft parts, or fuel
No local property taxes on
manufacturers' machinery,
equipment or inventory