Massachusetts is a global leader in biotechnology and life sciences, with the Kendall Square area in Cambridge regarded as the most important biotech cluster in the world.
Massachusetts is a global leader in biotechnology and life sciences, with the Kendall Square area in Cambridge regarded as the most important biotech cluster in the world. The state's economy is powered by world-class higher education institutions — Harvard and MIT alone generate billions in research funding and spin-off companies. Financial services, particularly asset management centered in Boston, and a robust healthcare sector anchored by Mass General Brigham further diversify the economy.
Massachusetts offers the most concentrated innovation ecosystem in the country, with unmatched access to venture capital, research talent, and academic partnerships. The cost of doing business is high, but the density of skilled workers and proximity to capital outweigh it for knowledge-economy firms.
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