Economy

Massachusetts is creating jobs faster than most other states and leading the nation out of the economic recession. By April of 2014, Massachusetts reached 3.3 million jobs, about 14,000 more than there were in April 2008, right before the recession. (Source: Executive Office of Labor and Workforce Development)

  • In the first quarter of 2013, the Massachusetts real gross state product grew at an annual rate of 3.98 percent, far ahead of the national rate of 2.5 percent (Source: MassBenchmarks)
  • Suffolk University’s Beacon Hill Institute ranks Massachusetts the number one state in the country for economic competitiveness. (Source: Beacon Hill Institute)
  • The U.S. Chamber of Commerce Foundation ranks Massachusetts fifth in entrepreneurship and innovation (Source: U.S. Chamber of Commerce Foundation)
  • Our continued success and our record of balanced budgets and fiscal discipline led Standard and Poor's to upgrade our state’s credit ranking to AA+, the highest in our state’s history. (Source: Office of Treasurer Steven Grossman)
  • Massachusetts' digital technology industry has experienced massive growth, especially in the areas of robotics, game technology, cyber security, Big Data and financial services.
  • The Governor's growth strategy has focused on targeted investments in education, innovation and infrastructure.

Education

  • The Patrick Administration has supported public K-12 education at the highest levels in the history of the Commonwealth, increasing chapter 70 funding to over $4.1 billion this year, the highest level in our Commonwealth’s history.
  • Massachusetts students rank top three internationally in math and science and lead the nation in math and reading according to the National Assessment of Educational Progress.
  • Massachusetts was the top scorer in the national Race to the Top competition, receiving $250 million to bolster the Administration’s efforts to increase educator effectiveness, turn around underperforming schools and provide educators with the tools they need to ensure that all students are prepared for success in the classroom and beyond. 
  • Massachusetts was also awarded $50 million dollars for our successful Race to the Top – Early Learning Challenge plan to help improve early childhood learning and development outcomes in Massachusetts.

Innovation

  • The Massachusetts Life Sciences Center has invested over $359 million of state resources to generate more than $1.2 billion in outside investment and thousands of jobs. 
  • Massachusetts is now investing more per capita in energy efficiency – our “first fuel” – than any other state in the US.  This year, Massachusetts was named number one in the American Council for an Energy-Efficient Economy's annual state-by-state energy efficiency scorecard.
  • The Patrick Administration has granted nearly $24 million in grants to 110 cities and towns across the state to fund local renewable power and energy efficiency projects through the Green Communities Grant Program.
  • According to the latest report released by MassCEC, the clean energy sector saw 11.2 percent job growth last year, nearly double that of the previous year.
  • A report put out by the Boston Foundation found that, over the last 10 years, the state's life sciences cluster has created jobs in Massachusetts at a faster pace than any other industry sector in the Commonwealth, and since 2008, Massachusetts has overtaken all competitor states in the rate of life sciences job creation.
  • In May, the Patrick Administration celebrated 250 megawatts of solar energy installed - reaching the Administration's goal four years early - and announced a new goal of 1,600 MW by 2020. The amount of solar energy installed has increased 80 times since 2007 and the clean energy sector in the Commonwealth now employs more than 71,000 people.

Infrastructure

  • In 2011, Massachusetts invested nearly a billion in road and bridge projects to fund 450 projects, including 300 active construction projects and 150 maintenance projects.
  • In 2012, the Patrick Administration invested $200 million in Chapter 90 funds for local road and bridge projects across the state.
  • The state’s Accelerated Bridge Program is an unprecedented 8-year, $3 billion investment in the Commonwealth's bridges, which will dramatically reduce the number of structurally deficient bridges in Massachusetts. Already, the program has reduced the number of structurally deficient bridges by 20 percent.
  • Through MassWorks Infrastructure Grant program, communities across the state have been awarded $101 million to invest in 68 local infrastructure projects and spur economic development across the Commonwealth.
  • Through the MassBroadband Institute the Patrick Administration has invested $71.6 million in state and federal funds to leverage public and private resources to expand high-speed Internet to all of the state’s cities and towns. And in April, Governor Patrick lit the first section of a new 1,200-mile fiber-optic network that will bring high-speed Internet access to under-served areas of western and central Massachusetts.