Market Snapshot: Massachusetts

Market Snapshot: Massachusetts

50 states in 50 weeks – This series leverages our market intelligence database to bring you powerful AE industry insights. Each week, we highlight a new state in green while previously featured states fade to a lighter green. This week we cover Massachusetts.

Massachusetts Economic Performance and Outlook Grade: B-

• Economy: B
• Population: B
• Workforce: B
• Financial/Fiscal Health: D

Despite ongoing fiscal challenges, Massachusetts has the third-highest GDP per capita among U.S. states, and its economy is driven by a highly skilled workforce. The state benefits from a strong talent pool supporting its expanding infrastructure and technology sectors. Massachusetts ranks among the top states for enterprise revenue in the engineering services industry. Its transit and air transportation revenue are among the highest in the country, demanding continued infrastructure investment towards mobility and connectivity. In addition, the state’s latest five-year capital plan allocates significant funding for housing and climate resilience initiatives. Regional highlights for Massachusetts include:

• Boston: A national leader in transit-oriented developments, life sciences real estate, and commercial construction
• Cambridge: Expanding biotech and research hubs fueling demand for lab space and high-tech facilities
• Worcester: Growing industrial and logistics developments supporting regional economic diversification
• Springfield: Infrastructure improvements and urban redevelopment initiatives driving AE opportunities
• Lowell: Mixed-use developments and investments in higher education fueling construction activity

For sector-specific data and insights for Massachusetts or questions about our market intelligence and research services, call/text Rafael Barbosa at 972-266-4955 or email [email protected].

For a comprehensive outlook for 2025, you can access the 2025 AE Market Intelligence Webinar (recorded on January 28). Click here for details.