Massachusetts is a state often known for its thriving business ecosystem, which supports startups from the ground up. If you are in Massachusetts, it may be time to reassess if this is your optimal location. A high cost of living and a strict regulatory environment challenge corporate growth from every angle. But don't take it away from us.
Look at the numerous case studies of individuals and companies that are cutting ties with the Bay State (and where they are moving instead). Rhode Island is the only state in New England and the northeastern United States that ranks among the 10 worst states for business. Part of the reason is high rates of unionization, which restrict employers' ability to set wages and benefits. Rhode Island is not a state with the right to work, and 17.3 percent of the labor force is in a union, a larger proportion than in all other states except four.
The author then claims that more than 100 technology manufacturers (rough estimate) have left Massachusetts in the past three decades, in terms of places to increase employment. Wisconsin's tax code is less business-friendly than most other states, according to the Tax Foundation. Striking the right balance between being pro-company and working for the welfare of all residents is not easy, and not achieving the goal can have consequences. Access to a skilled workforce can mean the difference between the success and failure of any business, and in Massachusetts, 43.4 percent of adults have a bachelor's degree or higher, the highest proportion of any state.
However, the state isn't one of the best for business, partly because the proportion of higher-skilled workers is lower than typical. The state has an unfavorable business tax climate compared to most other states, and the average monthly commercial electricity bill is well above the national average. Business owners in Pennsylvania have to deal with some of the highest operating costs of any state, largely due to high payroll costs. In any case, the scenario he described involving the house in Dorchester is just one example of how Massachusetts is not as transcendent of race and discrimination as people would lead outsiders to believe.
With the pandemic swirling the global economy, Massachusetts companies managed to weather the unpredictable storm by maintaining a healthy workforce and constant professional innovation. Companies in Delaware have done a better job attracting venture capital investment than almost every other state. For example, Massachusetts not only has a high cost of living, but it has one of the highest corporate taxes in the country. You just proved that you don't know what you're talking about because, according to the Bureau of Labor Statistics, the unemployment rate in Massachusetts is higher than that of New Hampshire.
Like the cities Amazon chose, the best states for doing business tend to be those with well-educated populations, a high quality of life, healthy economies, reliable infrastructure, and business-friendly laws and policies. Business owners were asked to rate their state and municipal governments on a wide range of policy factors, including tax and licensing regulations. The ASE is an annual survey of business owners, who report on the ease of doing business in their state based on measures such as fiscal policy, business conditions, access to skilled labor, and other regional factors.