Press Releases on the Massachusetts Economy

Study: Net Out-Migration of Wealth from Massachusetts Nearly Quintupled from 2012-2021

IRS data reveals that net out-migration from Massachusetts is accelerating rapidly and is greatest among affluent residents who pay the most in state taxes, according to a Pioneer Institute analysis. Between 2019 and 2021, Massachusetts rose from ninth to fourth among all states in net out-migration of wealth, behind only California, New York, and Illinois.

May 15, 2023/by Editorial Staff

A Model for Occupational Licensing Reform in the Bay State

Licensing for many professions squeezes the supply of services, artificially inflating prices and creating wage premiums. One study from the Institute for Justice put the wage premium relative to an environment without any occupational licensing at a whopping 22 percent in Massachusetts.

May 9, 2023/by Aidan Enright

Study Finds Massachusetts Workforce Has Become More Female, Older, More Diverse

The Massachusetts labor force has transformed in recent decades, with some of the biggest changes being the advancement of women, workers getting older and more diverse, and a divergence in labor force participation rates based on levels of educational achievement, according to “At a Glance: The Massachusetts Labor Force,” a white paper written by Pioneer's Economic Research Associate Aidan Enright.

May 2, 2023/by Editorial Staff

New IRS Data Shows Out-Migration Worsening, Underscoring the Need for Massachusetts Leaders to Focus on State’s Competitiveness

Massachusetts’ net loss of adjusted gross income (AGI) to other states grew from $2.5 billion in 2020 to $4.3 billion in 2021, according to recently released IRS data. Over 67 percent of the loss was to Florida and New Hampshire, both states with no income tax.

April 28, 2023/by Editorial Staff

Public Statement on the House’s Proposed Tax Reform and Budget

Pioneer Institute applauds key tax reform provisions advanced by the Speaker and House leadership, including a reduced short-term capital gains tax rate and implementation of a single sales factor apportionment. But leadership must do more to bolster the state’s economic competitiveness and slow out-migration of wealth and business owners that endangers the commonwealth’s economic future.

April 19, 2023/by Editorial Staff

Debunking Tax Migration Myths

Provisions of Gov. Healey’s $876 million tax package targeted to higher-income earners — including revisions to the estate tax and a reduction in the tax rate for short-term capital gains — are important for encouraging taxpayers subject to them to remain in Massachusetts, according to a new analysis from Pioneer Institute.

April 11, 2023/by Editorial Staff

A History of Rent Control Policy in Massachusetts

While many may only remember the 1994 referendum and the laws…

April 5, 2023/by Aidan Enright

Corporate Ownership: A Threat to Housing Affordability?

An increase in corporate ownership of housing has some experts worried about potential consequences of such a shift. One study found a link between LLC ownership and housing stock that is in disrepair, with more rapid deterioration than would be expected if ownership had not changed.

March 21, 2023/by Aidan Enright

Gov. Healey’s Tax Plan: Not Enough on Competitiveness

In an effort to deliver "an affordable, equitable and competitive tax structure for Massachusetts," Governor Maura Healey on Feb. 28 unveiled her tax package. While her proposal makes significant strides in addressing affordability and indirectly improves equity, it does little to address the issues of competitiveness.

March 3, 2023/by Eileen McAnneny

Licensing burdens thwart economic growth in Massachusetts

Immigrants account for 17% of Massachusetts residents but start a quarter of the Commonwealth’s new businesses. These entrepreneurs could create even more jobs that further lift wages and standard of living if not for the unnecessary obstacle of restrictive state and local occupational licensing laws.

February 22, 2023/by Charles Chieppo

The Debate Over Rent Control Re-Emerges Amid Housing Crisis

There is a housing crisis in the Bay State, a fact unlikely to…

January 26, 2023/by Aidan Enright

Eight Billion Minds: Unsustainable Population Bomb or Infinite Resource?

Hubwonk host Joe Selvaggi talks with Cato Scholar and author Marian Tupy about his new book, Superabundance: The Story of Population Growth, Innovation, and Human Flourishing on an Infinitely Bountiful Planet, focusing on the contrast in policy perspectives between those who see humans consumers of finite resources and those who recognize the unlimited potential of human ingenuity.

December 20, 2022/by Editorial Staff

MBTA Safety Overhaul: Retooling Teams For Trustworthy Transit

This week on Hubwonk, host Joe Selvaggi talks with transit advocate and expert Chris Dempsey about ways in which structural change in the MBTA's safety oversight can be reformed to improve performance, engender greater trust amongst the region’s riders, and reduce transportation congestion in our growing economy.

December 13, 2022/by Editorial Staff

Julianne Zimmerman on the Inventive Legacies of Immigrants

This week on JobMakers, host Denzil Mohammed talks with Julianne Zimmerman, managing director at Reinventure Capital, lecturer on Social Entrepreneurship at Tufts University (and named to Forbes' 2022 "50 Over 50" list). Julianne sees first-hand how immigrants collaborate with the U.S.-born to create meaningful inventions that solve real problems - but how rhetoric, policy, and an outdated system can shut them out.

December 8, 2022/by Editorial Staff

Report: Immigrant Entrepreneurs Provide Economic Benefits, but Face Significant Obstacles

Immigrants have started a quarter of all businesses in Massachusetts despite making up just 17 percent of the state workforce, and those establishments appear to be more innovative than those founded by native-born Americans. Despite these contributions, shrinking federal visa caps and red tape are among the factors making it more difficult for immigrants to come to the U.S., according to “Immigrant Entrepreneurs and the Barriers They Face: An Academic Literature Review,” published by Pioneer Institute.

December 8, 2022/by Editorial Staff

Joséphine Erni on Bringing Swiss Innovation to the U.S. Market

This week on JobMakers, host Denzil Mohammed talks with Joséphine Erni, Innovation Lead at Swissnex in Boston and New York, and immigrant from Switzerland. She explains how building collaborations between the highly entrepreneurial Swiss and the world’s biggest market, the U.S., gives rise to incredible innovations that benefit the world.

December 1, 2022/by Editorial Staff

Josh Bedi on How Immigrants Boost Native Entrepreneurship

This week on JobMakers, host Denzil Mohammed talks with Dr. Joshua Bedi, child of an immigrant and postdoctoral researcher in entrepreneurship in the Department of Strategy and Innovation at Copenhagen Business School in Denmark. He is the son of an immigrant who relocated from India to Jackson, Mississippi, and started a business. It was a simple neighborhood gas station, but also a symbol of what hardworking immigrants can do to boost innovation and business generation in host countries, as you’ll learn in this week’s JobMakers podcast.

November 17, 2022/by Editorial Staff

Pioneer Institute Statement on Question 1

Yesterday, voters came closer than many expected to rejecting the largest tax increase in Massachusetts history, even though opponents were dramatically outspent by the unions that bankrolled the amendment to the state Constitution.

November 9, 2022/by Editorial Staff

Taxachusetts Must Be Stopped

Going back to the bad old days of Taxachusetts would be an almost unfathomable mistake. Between the $3 billion bombshell that upended the recent legislative session, the ambiguity about how the tax revenue will actually be spent, and the contrasting examples of neighboring New Hampshire and Connecticut, Bay State voters have plenty of reasons to come back to reality and reject the ill-conceived proposal to amend the Massachusetts constitution this November.

November 7, 2022/by Charles Chieppo

Steve Tobocman and Mamba Hamissi on How Refugees Are Revitalizing Detroit

This week on JobMakers, host Denzil Mohammed talks with Steve Tobocman, head of the economic development nonprofit Global Detroit, and one of the thousands of refugee business owners he’s assisted, Mamba Hamissi, Burundi native and co-founder of Baobab Fare, an East African restaurant.

November 3, 2022/by Editorial Staff

Grading State Governors: Do Higher Taxes Equate To Higher Value?

This week on Hubwonk, host Joe Selvaggi talks with Cato Institute’s Chris Edwards about the new report he co-authored entitled, "Fiscal Policy Report Card on America’s Governors 2022." They discuss how Massachusetts Governor Charlie Baker’s fiscal stewardship compares with other states, and explore whether higher tax rates and spending correlate with better state performance and resident satisfaction.

November 1, 2022/by Editorial Staff