The education heritage runs deep in the Bay State, but high costs create some challenges.
Economic Profile
Governor: Charlie Baker, Republican
Population: 6,893,574
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GDP growth (Q1 2021): 6.9%
Unemployment rate (May 2021): 6.1%
Top corporate tax rate: 8%
Money Report
Top individual income tax rate: 5.05%
Gasoline tax: 26.54 cents/gallon
Bond rating (Moody's/S&P): Aa1, stable/AA, stable
Major private employers: Bay State Medical Center, Thermo Fisher Scientific
Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
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