Boston, Massachusetts

TTIP_Town_Hall_Locations_Boston_MA.jpgBoston, Massachusetts

Boston, Massachusetts (December 8, 2015)

Boston is Massachusetts’ capital and largest city, with a metro population of approximately 2 million and a gross metro product of $171.6 billion. Major industries in the Greater Boston region include education, biotechnology, tourism and financial services.

Over 40 percent of Greater Boston’s employment is concentrated in three industries: healthcare, professional and technical services and finance and insurance. Boston has a labor force of 354,299 and employer demand for labor in the city is the highest in the state, averaging 37,290 job postings per month.

Massachusetts is the most educated state in the nation and has the highest concentration of science and engineering degrees in the country. There are over 50 colleges and universities located in the Greater Boston area, with more than 250,000 students in Boston and Cambridge alone.

Massachusetts, and Boston in particular, are major exporters and attractive destinations for international business. Massachusetts-based firms exported over $27.3 billion in goods and services in 2014. In the same year, the Commonwealth’s top export commodities were optic, photo and medical instruments, electric machinery and industrial machinery, including computers. Canada, the United Kingdom, Mexico, China and Japan are the state’s top five export partners, respectively. Massachusetts was first in the nation for access to capital in 2014, according to CNBC. There are several Fortune 500 companies based in the Boston Metro Area, including Reebok International, Liberty Mutual Insurance Group, Staples, Gillette and Boston Scientific.

Massachusetts Economy At a Glance

Population: 6,745,408 (2014)

Labor Force: 3,557,500 (2014)

Gross Domestic Product (GDP): $424,991 (2014), GDP Per Capita: $63,005 (2014)

GDP Ranking among US States: 15th

Household median income: $64,157 (2014)

Largest Employers:

  • Brigham and Women’s Hospital
  • Massachusetts General Hospital
  • Boston Children’s Hospital
  • Boston University School of Medicine
  • Boston University
  • EMC Corporation
  • Floating Hospital for Children
  • John Hancock
  • Liberty Mutual Group, Inc.

Photo credit: Matthias Rosenkranz,