Press Releases on the Massachusetts Economy

Harsh Tax Policies in NY Make MA Seem Palatable as Some Residents Look to Relocate

While many Massachusetts residents relocated to either New Hampshire or Florida in 2021, a considerable amount of New Yorkers migrated into Massachusetts. Their motivation to relocate seems largely tied to the harsh taxes in New York, which surpass the rates in Massachusetts.

July 26, 2023/by Sarah Delano

Massachusetts’ “Stinger” Tax, Explained

Massachusetts recognizes S Corporations as flow-through entities. However, it levies an additional "stinger" tax on shareholders of these types of entities, depending on their revenue and industry. The state should reform S Corporation tax policy because the current system is uncompetitive and nonneutral. And, in addition to the new surtax on earnings over $1 million, the stinger tax could make business owners consider relocating, which would take revenue and surtax from the state.

July 26, 2023/by Sarah Delano

Changes to the Confounding Massachusetts Estate Tax

Policymakers on Beacon Hill have many visions of tax relief for this fiscal year, and all of them include changing the estate taxes. What are those changes, and what would their impact be?

July 26, 2023/by Peter Mentekidis

An Examination of the Commonwealth Rainy Day Fund

Established in 1987, the Commonwealth Stabilization Fund has been a key component of the financial stability of Massachusetts. As of recently, it's seen spectacular growth. Why?

July 25, 2023/by Peter Mentekidis

GDP by Industry: Middlesex County v. Suffolk County

Middlesex and Suffolk counties have contributed far more to the state's GDP than any other county in Massachusetts. However, the two differ in which industries are responsible for the greatest shares of their GDP.

July 18, 2023/by Sarah Delano

The Curious Case of the Missing Stabilization Funds

Stabilization funds are a key component of a municipality's financial strength, yet many towns (including Boston!) report no stabilization funds. Why is this?

July 18, 2023/by Peter Mentekidis

HDIP: Unintended Consequences Adding to the Housing Crisis

See how the HDIP affected the state's housing crisis. Housing prices in Gateway Cities, such as Chelsea, Revere, Everett, and Lawrence, are skyrocketing.

July 13, 2023/by Teddy Wynn

Large Free Cash Fund in Woburn Demonstrates Quality Financial Management

Woburn has consistently had quality financial management in recent years, demonstrated by the fact that the city had the third highest free cash fund in the state in 2020. The city’s financial success has benefited its taxpayers, as the city’s bond rating has been promoted to a AAA rating by the S&P agency standards.

July 13, 2023/by Sarah Delano

PFML v. FMLA: To Pay or Not to Pay Leave-Takers

Congress passed the Family and Medical Leave Act in 1993 to ensure citizens’ job security should they need to take an extended leave, but it did not require any replacement wages to be paid for that time period. Then, Massachusetts passed their Paid Family and Medical Leave law in 2018 which set out requirements for employer and employee contributions to a PFML fund so that employees could get paid in addition to keeping their jobs should they need to take leave for certain reasons.

June 22, 2023/by Sarah Delano

Online Sports Betting as a Form of Tax Revenue

The legalization of sports betting in Massachusetts has been successful so far in terms of bringing in tax revenue. Although there's a chance for a dip in volume this summer, it will continue to be a strong source of revenue for the commonwealth.

June 22, 2023/by Teddy Wynn

A Tale of Two Massachusetts: Wealth and Labor Differences Between East and West

This blog compares the income, wealth, and property values of western Massachusetts to those of eastern Massachusetts, highlighting the west's potential for growth.

June 15, 2023/by Peter Mentekidis

Senate Tax Package Misses the Mark on Competitiveness

The Senate tax package, S.2397, is heavy on provisions that reduce the tax burden for certain taxpayers, thereby helping those that qualify for the expanded credits and deductions. The bill, however, is light on provisions that will improve the Commonwealth’s competitiveness.

June 14, 2023/by Eileen McAnneny

Unemployment: A Massachusetts vs. New England Comparison

Massachusetts has seen a trend of above average unemployment rates in comparison to other New England states in recent years. This may be attributed to the greater average unemployment benefit payouts, and duration of benefits, which Massachusetts has had.

June 13, 2023/by Sarah Delano

Hampden County Resilience: Thriving Despite Manufacturing Decline

Hampden County has experienced decline in its manufacturing sector, a former backbone of its economy. However, the county has still experienced this in spite of this, showing growth in new sectors.

June 13, 2023/by Teddy Wynn

Installing bike and bus lanes requires public debate

The problem isn’t with the concept of bike lanes but, rather, the lack of public conversation or transparency. Municipal governments are changing the infrastructure and character of entire neighborhoods and small commercial centers with little input from those most affected.

June 12, 2023/by Barbara Anthony

Study: Immigrant Entrepreneurs Benefit N.E. Economy, Despite Facing Obstacles to Growth

BOSTON – Immigrants in Massachusetts and New England are more likely to be self-employed, but the businesses they own tend to be in different industries than those owned by the U.S. born, according to a new study published by Pioneer Institute.

June 8, 2023/by Editorial Staff

The MassLottery: A Bay Stater’s Favorite Pastime

The Massachusetts lottery made $5.9 billion in 2021, making it the fourth-highest source of revenue for the state. This confirms a long-standing trend: that Massachusettans love to play the lottery.

June 6, 2023/by Peter Mentekidis

Healthcare: Suffolk County’s Biggest Driver for Labor and Employment

Suffolk County employment and labor trends have seen steady growth over the past 15 years. The rise of establishments and employment in the health care sector has directly contributed to these trends. Suffolk County has now surpassed Worcester and Essex counties in labor force and employment numbers.

June 1, 2023/by Teddy Wynn

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