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Powered by ingenuity

The telephone was invented here, as were fibre optics. The first railroad, the first electrical transformer, even the first computer, were all invented right here in Massachusetts. And that’s just the beginning.

From the first mutual fund to the first use of anaesthesia to the first subway system, Massachusetts has led the way in innovation. In fact, Massachusetts’ ingenuity has led to the creation of entire new industries such as biotechnology, computers, software, plastics, telecommunications, and advanced materials.

An ideal place to grow a business

From its world-class universities and hospitals, to its vibrant economy and broad base of support industries, Massachusetts has all the ingredients your business needs to thrive:

• One of the most highly-educated workforces in the nation. With 122 colleges and universities, Massachusetts has the highest concentration of educational institutions in the US. Combined, these institutions have produced half of all the Nobel Prize winners in the country.
• Formidable competitors in every field that push companies and their employees to new levels of proficiency.
• An extremely capable group of local suppliers that give businesses a strong support network and a distinct competitive advantage,
• A well-developed infrastructure to move people, goods, and information rapidly.
• A government that encourages and protects this unique business environment
• With its proximity to airports throughout the region, Massachusetts is just a one-hour flight from 40% of the US market and 67% of the Canadian market. Airport capacity has recently expanded with a $4.4bn modernisation programme for Boston’s Logan Airport.
• A superior transportation network of more than 34,000 miles of roads and highways and nearly half of the population of the US within a 12-hour drive. In addition to its highway system, Massachusetts has over 1,200 miles of active railroad lines and is served by nine rail centres. Direct rail-to-port access makes intermodal transportation a major feature of the state’s transportation network.
• Six deep-water seaports (Boston, Fall River, Gloucester, New Bedford, Salem, and Plymouth) that are located one day closer to Europe than other major US ports.
• Massachusetts is renowned for its concentration of world-class health care and medical research facilities. The industry draws scientists, doctors and patients from around the world.

Leader in innovation

One of the most prominent features of a vibrant business climate is the formation of “clusters” of competitive companies. Massachusetts is home to a dynamic array of clusters encompassing key industries.

Biotechnology

The first biotechnology firm in the state, Biogen, was founded in 1979. Since then, the industry in Massachusetts has grown to over 300 companies.

Telecommunications

During the past century, Massachusetts has maintained its position as a leader in technological innovation.

Photonics

The Photonics Center at Boston University is in close proximity to one of the highest concentrations of photonics companies in the nation.

Medical devices

One of our strongest and fastest-growing clusters, medical device firms work closely with the bio-tech and health care industries to produce health care products that are used around the world. This industry also has a ripple effect on the state’s economy due to the number of supporting industries that serve the broader cluster, including plastics, advanced manufacturing, manufacturing, machining and IT.

Advanced materials

The plastics industry in Massachusetts is a leader in innovation and new technologies. The University of Massachusetts’ Polymer Research Program, which brings together the strengths of academics, business principles, and scientists to create new plastics and fibres, is one reason for our state’s strength.

Software

Software and IT industries here show innovation in areas of RFIDs, security, and biomedical support software.

Nanotechnology

Our nanotech and nano-manufacturing research centres at the University of Massachusetts Lowell and Amherst campuses have attracted more than $100M in federal and state investment dollars. As a result of their critical research and development work, and the growing number of firms focused on nanotechnology and nano-manufacturing, our nanotech cluster is among the strongest in the nation.

Environmental and renewable energy technology

Environmental Technology is a growing sector in the Massachusetts economy. A combination of factors, including aggressive state and federal regulatory initiatives, the support of academic research and assistance, and funding from venture capitalists and bankers has helped to give this industry a headstart in getting to the global market. Massachusetts is also leading the way in developing new technologies for renewable energies including wind and biomass.

Manufacturing and other sectors

Massachusetts has always been a manufacturing centre for mass-produced goods such as paper products, machinery, machine tools, chemicals, metals, composite materials, textiles, and footwear. We maintain a strong presence in financial services and insurance, marine science and technology, and defence technology.

Competitive incentives to help your business

Massachusetts offers many tax incentives, financing solutions, and grants to its companies. These include: The Economic Development Incentive Program This program is a state and local tax incentive program that can significantly reduce the cost of doing business for companies expanding or locating in Massachusetts.

The investment tax credit

This credit is used for the purchase and lease of qualified tangible property used in the course of business operations, it offers a 3% credit for businesses against a company’s Massachusetts Corporate Excise Tax.

The research and development tax credit

This credit offers a tax incentive for research and development investment for manufacturers and R&D companies. It was designed to remove any obstacles to R&D investment and spur growth and innovation.

The single sales factor program

This program reduces the tax burden for manufacturers and other qualifying companies, helping to facilitate an attractive tax environment for businesses.

The Massachusetts’ emerging technology fund

This fund, with $25m in new funding, is designed to help technology-based companies build new facilities, expand current locations, make leasehold improvements or purchase new equipment. Partnering with traditional lenders, venture capitalists and other financing sources, the program supports the needs of growing companies by providing loans or loan guarantees to close financing gaps for new manufacturing, research and development, and stateof- the-art or specialised equipment purchases.

The workforce training fund (WTF)

This fund makes Massachusetts’ businesses and labour organisations eligible to receive matching grants of up to $250,000 and in some cases up to $1m to help pay for critical, up-to-the-minute employee training for up to two years. Additionally, the Fund provides technical assistance grants of up to $25,000 to help employers access assistance in identifying training needs, developing a training plan, curriculum or other training-related activities.

The Workforce Training Fund Express (WTF Express) This fund offers matching grants to Massachusetts’s employers to train current and newly hired employees. The program is targeted to small employers with a maximum of 50 employees and to labour organisations. WTF Express applicants can receive up to $15,000 annually, and up to $3,000 per trainee per course.

The job creation incentive program

This program makes qualifying biotechnology or medical device manufacturing companies eligible to receive incentive payments for new job creation. The District Improvement Financing Program (DIF) DIF is a public financing alternative available to all cities and towns in the Commonwealth. The DIF enables municipalities to fund public works, infrastructure, and development projects by allocating future, incremental tax revenues collected from a predefined district to pay project costs.

Massachusetts is not all about business

Massachusetts offers dramatic scenery, a wealth of cultural and historical activities, hundreds of miles of pristine beaches, major-league sports, great shopping, and delicious seafood. Explore the state’s historic sites and you’ll experience the events, the places, and the people that shaped America’s beginnings.

We help you succeed in Massachusetts

The Massachusetts Business Resource Team (BRT) can help you get started on your business venture with a streamlined approach to economic development assistance. One call to any of our staff will put you in direct contact with a Project Manager who will assist in all of your business needs.

By partnering with leading public and private economic development resources across the state, the BRT provides a single point of contact for one on one services to businesses looking to create and retain jobs in Massachusetts. With more than 20 partners that include chambers of commerce, industry associations, and state agencies providing incentives and technical assistance, the BRT is a one-stop shop which aggregates government and other economic development programs and services.

The members of Massachusetts’ BRT work with a diverse base of the state’s companies to increase their influence in international markets. These companies represent excellence in manufacturing, service delivery, and intellectual and knowledge development. These concentrated clusters of world-class companies and institutions have created an effective “brand identity” for Massachusetts throughout the world.

For more information, contact:
Massachusetts Office of International Trade & Investment
10 Park Plaza, Suite 4510
Boston, MA 02116
Tel: +1 617 973 8650
Website: www.mass.gov/MOITI

MOITI Europe
Am Karlsbad 11, 10785
Berlin, Germany
Tel: +49 (30) 3990 2547
Website: www.masstradegermany.de

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