East-Boston-OM

Boston Market With the ninth-largest GDP in the country and the fifteenth-largest in the world, metro Boston is an economic powerhouse and one of the nation’s centers for education, finance, tourism, healthcare, life sciences and technology. The region is home to 12 Fortune 500 Companies, some of the largest employers include Brigham and Women’s Hospital, Mass General Hospital, John Hancock, Boston University and Liberty Mutual. Greater Boston boasts a population base of 4.7 million – ranking it one of the largest metropolitan areas in the U.S. The 80+ colleges and universities in the region are anchored by world-class institutes such as Harvard and MIT, and provide a large pool of talented young workers who remain attracted to the area’s burgeoning innovation economy, solid employment prospects, above-average wages and amenities. As a worldwide leader in science and tech-based industries, the metro area continues to benefit from healthcare and biotech research and development. Armed with a strong entrepreneurial spirit and a highly educated workforce, prospects for growth are solid in Greater Boston.

LEADER IN EDUCATION AND HEALTHCARE • Anchored by Boston and Cambridge, Massachusetts has been ranked the 8th most popular destination for college students (source: College Raptor), enjoying a student population of more than 250,000.

• Top-ranked universities, according to U.S. News & World Report, include Harvard (#2), MIT (#7) and Tufts (#27).

NIH FUNDING

STATE

FY 2017 $ $ PER CAPITA

• Massachusetts General Hospital and Brigham and Women’s Hospital are among the best hospitals in the country, ranking 1st and 6th, respectively. • Massachusetts remains a top destination for NIH funding, receiving $2.7 billion in awards during the 2017 fiscal year. Much of this funding goes to Boston-area institutions and hospitals, with Mass General, Brigham & Women’s and Harvard Medical School accounting for roughly 37% of total funding.

California

$3.9

$106

Massachusetts

$2.7

$415

New York

$2.4

$120

Pennsylvania

$1.7

$130

Maryland

$1.6

$265

GLOBAL TECH HUB • Greater Boston’s importance as a global technology hub has continued to expand over the last several years. Boston ranked 5th in Market Expert’s top 10 Tech cities list and 1st among the top 25 startup hubs in the U.S. by the U.S. Chamber of Commerce Foundation and startup incubator 1776.

VC FUNDING

• According to the Kauffman Index, Greater Boston ranked 22nd among the country’s 40 largest metro areas for startup activity.

STATE

H1 2017 $

California

$20 B

• In 2016, there were 1,869 startups operating in the Boston area.

New York

$5.9 B

• Massachusetts is also a top destination for venture capital funding, garnering $3.7 B in 2017. This ranks the Bay State 3rd behind only California and New York.

Massachusetts

$3.7 B

Washington

$886 M

Illinois

$719 M

20