POPULATION: 1,053,209 (2009 estimate)
LABOR FORCE: 572,077 (Aug. 2010)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Finance, insurance, health services,
educational services, boat and ship
building, fabricated metal products,
machinery, jewelry
EXPANDING INDUSTRIES: Healthcare and life science technology,
financial services, industrial
products and infrastructure services,
consumer products and design,
professional and educational
services, information technology
and digital media, marine trades
and defense technology, renewable
energy
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
No local property taxes on manufacturers'
machinery, equipment,
or inventory
