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Economic Summary of Massachusetts

The GDP for Massachusetts was $403 billion^[1]. Massachusetts had an estimated population of 6.646 million in 2012^[2]. The GDP per capita was $53,221 in 2012^[3].

Counties

There are 14 counties in Massachusetts^[4]. Below are the counties ranked by population 2010

Rank	Locality	Population 2010
1	Middlesex	1,503,085
2	Worcester	7898,552
3	Essex	743,159
4	Suffolk	722,023
5	Norfolk	670,850
6	Bristol	548,285
7	Plymouth	494,919
8	Hampden	463,490
9	Barnstable	215,888
10	Hampshire	158,080

List of counties in Massachusetts by population

Cities

Top 10 cities in Massachusetts by estimated city proper population in 2010^[5]

Rank	City	Population 2010
1	Boston	617,594
2	Worcester	181,045
3	Springfield	153,060
4	Lowell	106,519
5	Cambridge	105,162
6	New Bedford	95,072
7	Brockton	93,810
8	Quincy	92,271
9	Lynn	90,329
10	Fall River	88,857

List of Massachusetts cities by population

Industries

Massachusetts industries by GDP 2012.^[6]

Industry	GDP value added $ billions 2012	% of total GDP
Real estate and rental leasing	56.95	14.10%
Professional, scientific, and technical services	49.44	12.24%
Health care and social assistance	39.74	9.84%
Government	38.10	9.43%
Finance and insurance	37.02	9.17%
Durable manufacturing	30.66	7.59%
Wholesale trade	20.23	5.00%
Retail trade	18.27	4.52%
Information	19.78	4.90%
Accommodation and food services	12.35	3.06%
Construction	12.33	3.05%
Educational services	11.83	2.93%
Administrative and waste support services	11.14	2.76%
Non-durable manufacturing	10.97	2.72%
Management of companies and enterprises	9.41	2.33%
Other private services	8.63	2.14%
Transportation and warehousing	6.83	1.69%
Utilities	5.29	1.31%
Arts, entertainment, and recreation	3.97	0.98%
Agriculture, forestry, fishing and hunting	0.749	0.18%
Mining	0.131	0.03%
Total	403.82	100%

Employment

Massachusetts employment by industry in June 2013.^[7]

Industry	Employment thousands June 2013	Percent of total employment
Education & health services	704.2	21.21%
Trade, transportation and utilities	554.1	16.69%
Professional & business services	503.7	15.17%
Government	440.0	13.25%
Leisure & hospitality	328.9	9.91%
Manufacturing	249.5	7.52%
Financial activities	205.9	6.20%
Other services	125.4	3.78%
Construction	118.6	3.57%
Information	88.4	2.66%
Mining and logging	0.9	0.02%
Total non-farm	3,319.6	100%

Corporations

Top 10 Massachusetts based corporations by revenue in 2012^[8]

Rank	Corporation	Revenue $ millions 2012	Headquarters
1	Liberty Mutual Insurance Group	34,671	Boston
2	Staples	25,022	Framingham
3	Raytheon	24,857	Waltham
4	Massachusetts Mutual Life Insurance	24,226	Springfield
5	TJX	23,191	Framingham
6	EMC	20,008	Hopkinton
7	Global Partners	14,836	Waltham
8	Thermo Fisher Scientific	11,780	Waltham
9	State Street	10,207	Boston
10	Boston Scientific	7,622	Natick

List of Massachusetts companies by revenue

Government Finances

In 2011, the state government of Massachusetts had total revenue of _____ billion. Total expenditures were _____ billion.^[9]

The total debt outstanding in 2011 was _____ billion^[10] (____% of GDP^[11]).

The total cash and security holdings in 2011 was _____ billion^[12].

Revenue by Source	$ millions	Percent of revenue
Intergovernmental revenue from Federal Government
Intergovernmental revenue from local governments
Property taxes
Sales and gross receipts
Individual income tax
Corporate income tax
Motor vehicle license
Other taxes
Charges and miscellaneous general revenue
Utility revenue
Liquor store revenue
Insurance trust revenue
Total		100%

Expenditure	$ millions	Percent of expenditure
Intergovernmental expenditure
Education
Libraries
Public welfare
Hospitals
Health
Employment security administration
Veterans' services
Highways
Air transport
Parking facilities
Sea and inland port facilities
Police protection
Fire protection
Correction
Protective inspection and regulation
Natural resources
Parks and recreation
Housing and community development
Sewerage
Solid waste management
Financial administration
Judicial and legal
General public buildings
Other governmental administration
Interest on general debt
Miscellaneous commercial activities
Other and unallocable
Utility expenditure
Liquor store expenditure
Insurance trust expenditure
Total		100%

Financial Institutions

Top ten banks by assets in Massachusetts^[13]

Rank	Bank	Assets $ millions 3/31/13	Headquarters
1	State Street Corporation	217,852	Boston
2	Santander holdings USA	82,733	Boston
3
4
5
6
7
8
9
10

List of Massachusetts banks by assets

References

External links

https://meta.wikimedia.org/wiki/Global_Economic_Map

[1] ttp://www.bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm

[2] ttp://www.census.gov/popest/data/state/totals/2012/index.html

[3] ttp://bber.unm.edu/econ/st-gdp5.htm

[4] ttp://www.massachusetts-demographics.com/

[5] ttp://www.georgia-demographics.com/cities_by_population

[6] ttp://www.bea.gov/iTable/iTable.cfm?reqid=70&step=1&isuri=1&acrdn=1#reqid=70&step=10&isuri=1&7007=2012&7036=-1&7090=70&7035=-1&7006=25000&7001=1200&7002=1&7003=200&7004=NAICS&7005=-1&7093=Levels

[7] ttp://www.bls.gov/eag/home.htm

[8] ttp://money.cnn.com/magazines/fortune/fortune500/2012/states/CA.html

[9] ttp://www.census.gov/govs/local/

[10] ttp://www.census.gov/govs/local/

[11] ttp://www.bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm

[12] ttp://www.census.gov/govs/local/

[13] ttp://www.ffiec.gov/nicpubweb/nicweb/Top50Form.aspx

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