Press Releases on the Massachusetts Economy

Latest IRS Migration Data Show Exodus from Massachusetts Continues

Massachusetts shed more than double the amount of adjusted gross income (AGI) in 2022 than any year prior to 2020, making it fifth among states in net AGI out-migration behind only California, New York, Illinois and New Jersey, according to data released Thursday by the Internal Revenue Service.

July 1, 2024/by Editorial Staff

Cape Cod Restricts Fourth of July Parties: What’s the Economic Impact?

With Fourth of July parties getting out of hand in recent years, Dennis Police established measures to limit the number of beachgoers this year. This may have an impact on Dennis economically, but it is a choice Dennis feels is worth making.

June 27, 2024/by Raif Boit

Part II: Push and Pull Factors for Massachusetts Businesses

High UI tax rates make it expensive for businesses to operate in Massachusetts. Learn what affects a company's decision to operate in Massachusetts.

June 25, 2024/by Dana DiChiro

Mayor Wu’s Office to Residential Conversion Pilot Program Prioritizes Downtown Revitalization over Housing Production, Fiscal Responsibility

In July 2023, in response to a soft post-COVID office market…

June 24, 2024/by Andrew Mikula

Northwest Massachusetts’ Reliance on Industry Levies

Some towns in NW Massachusetts spend significantly more per capita than their neighbors, without using methods such as large state funding, deficit spending, and high taxes. These towns gain significant portions of their revenue from industry tax levies.

June 20, 2024/by Raif Boit

Part I: It May Be Better to Be Unemployed in Massachusetts than in Connecticut or New Hampshire

Connecticut, Massachusetts, and New Hampshire all rank among…

June 18, 2024/by Dana DiChiro

Massachusetts Legislature Procrastinates Once Again

There are less than seven weeks left to the Massachusetts Legislature’s…

June 13, 2024/by Eileen McAnneny

Study Finds Prevalence of Entrepreneurship Tied to Regulatory Environment, Portion of Immigrants

The prevalence of entrepreneurship is linked to both the regulatory environment and the portion of foreign-born immigrants in a jurisdiction, according to a new study published by Pioneer Institute.

June 13, 2024/by Editorial Staff

Cape Cod: The Struggles of Year-Round Residents

Barnstable County contains all 15 Cape Cod municipalities. In…

June 11, 2024/by Dana DiChiro

Thoughts on Outmigration and Competitiveness

?Thoughts on Out Migration and Competitiveness

A…

May 23, 2024/by Eileen McAnneny

Study Finds Supply Shortage at the Heart of Greater Boston Housing Crisis

Construction costs, land use regulation and zoning among…

May 23, 2024/by Editorial Staff

Commentary On The Senate Ways And Means Committee FY2025 Budget

The Senate Ways and Means Committee (SWM) released its FY2025 budget on May 7th. This spending plan totals $57.9 billion, an increase of $1.8 billion over the FY2024 General Appropriations Act (GAA). Like the Governor’s and House’s versions of the budget, the SWM budget is based on the consensus revenue estimate of $41.5 billion in tax revenue - a decrease of $208 million from last year’s consensus figure.

May 9, 2024/by Eileen McAnneny

Milton Shuts the Door
on Multifamily Housing Plans

The MBTA Communities Act, passed in 2021, provides that the 177 communities serviced by the MBTA must create multifamily zones to spur housing development close to public transportation. But the issue is an emotionally charged one, with passions high on both sides. And Milton residents in February rejected a plan to create such housing ‚ choosing a loss of some state funding over an approximately 25 percent increase in their housing stock, along with the possibility of greater congestion.

February 15, 2024/by Eileen McAnneny

Pioneer Statement on Continuing Slide in Massachusetts’ Revenue

The Commonwealth’s tax collections continue to slide, totaling $3.594 billion in January, $268 million below what the state collected in January 2023, and short of the revised benchmark by $263 million. Massachusetts state government must live within its means by reducing FY2025 spending. The days of fiscal surpluses, unprecedented increases in year-over-year spending, and flowing federal aid have come to an end.

February 6, 2024/by Editorial Staff

Pioneer Statement on Decline in State Revenues

The Commonwealth’s finances have stumbled hard in recent months, and based on a report the Department of Revenue (DOR) sent to the Legislature in January, the trend shows no signs of easing. Massachusetts needs a renewed emphasis on fiscal discipline and pro-growth policies to make the state economically competitive again.

January 31, 2024/by Editorial Staff

Skill-based immigration could ease labor shortage

A recent Biden administration executive order that amends the Schedule A list, which identifies occupations experiencing labor shortages and allows immigrants in those occupations to expedite their employment in the U.S., could positively impact the hiring of skilled international workers for years to come — a welcome development as the country and Massachusetts struggle to attract talent amidst a worsening labor shortage.

January 29, 2024/by Aidan Enright

My Musings on Massachusetts’ Fiscal Picture

Since the start of FY2024 on July 1, 2023, the state has experienced six straight months of revenues falling short of expectations. The single biggest factor is the unprecedented growth of the state budget since FY2021. The $15 billion increase in state spending contextualizes the seemingly modest projected revenue growth of 1.6 percent for FY2024 by highlighting that the base is very inflated.

January 11, 2024/by Eileen McAnneny

The Massachusetts Workforce: Abundant Resources, Steep Challenges

Massachusetts features a strong workforce training system with abundant resources yet faces challenges in matching jobs and applicants, training youth, and attracting sufficient numbers of skilled immigrants, according to a pair of studies from Pioneer Institute.

December 4, 2023/by Editorial Staff

Statement on Massachusetts Falling from 34th to 46th on Tax Foundation’s 2024 Business Tax Climate Index

Massachusetts policymakers should pay close attention to the latest evidence of the Commonwealth’s declining competitiveness. Last week, the Tax Foundation published its 2024 State Business Tax Climate Index, which showed Massachusetts’ ranking falling more than any other state, from 34th to 46th.

October 30, 2023/by Editorial Staff

Pioneer Institute Statement on the State Legislature’s FY2024 Tax Relief Package

The recent advancement of a tax bill H. 4104, that is expected to be enacted by the Legislature this week after languishing for more than 20 months, puts Massachusetts taxpayers one step closer to realizing some tax relief. However, it may be too little to tackle the Commonwealth’s affordability and competitiveness challenges.

September 29, 2023/by Editorial Staff

Poll: MA Voters Oppose Legislative Proposals to Change Tax Rebate Law

A strong majority of registered Massachusetts voters oppose a plan recently announced by state legislative leaders that would change the way tax rebates are distributed in Massachusetts under a state law approved by voters in 1986, according to a new poll sponsored by Pioneer Institute and the Massachusetts High Technology Council.

September 28, 2023/by Editorial Staff