Massachusetts Tops US Economy Ranking, Powered by No. 1 Innovation Potential
Updated
Updated · Business Insider · Jun 18
Massachusetts Tops US Economy Ranking, Powered by No. 1 Innovation Potential
3 articles · Updated · Business Insider · Jun 18
Summary
WalletHub ranked Massachusetts the strongest US economy, ahead of Washington state and Utah, after placing it No. 1 for innovation potential and No. 5 for economic activity.
More than a quarter of the state's GDP comes from tech, and Massachusetts has the nation's highest share of high-tech jobs and the largest percentage of companies on Deloitte's Technology Fast 500 list.
High research spending, strong venture-capital funding and universities including MIT and Harvard help feed that innovation pipeline, while the state spent $22 billion on public schools in 2024.
Massachusetts still faces sharp affordability and inequality pressures—WalletHub ranked it 44th in affordability—and uncertainty from Trump administration moves targeting university funding and international students.