The Competitive Advantage The diversity of industries and the breadth of the supporting talent in Massachusetts have created an environment in which companies are able to respond to the changes and fluctuations within their respective industries by calling upon the hybrid talents of their own staff, as well as the talents of their support companies’ staffs.
The telephone was invented here, as were fiber optics. The first railroad, the first electrical transformers, even the first computer were all invented right here in Massachusetts. And that’s just the beginning.
From the first mutual fund to the first use of anesthesia to the first subway system in the United States, Massachusetts had led th way in innovation. In fact, Massachusetts’ ingenuity has led to the creation of entire new industries such as biotechnology, computers, software, plastics, telecommunications, and advanced materials.
Companies both large and small find that a unique set of conditions exist in Massachusetts to give them the competitive advantage necessary to succeed in today’s marketplace.
7% of the world’s pipeline for new drugs is being developed in Massachusetts.
6% of all global licensing deals take place in Massachusetts.
Top 5 United States NIH-funded research hospitals are located in Massachusetts.
12 teaching hospitals are located in Massachusetts.
8,000 technology companies are located in Massachusetts, employing over 160,000 workers.
85 of every 1,000 private sector workers in Massachusetts are employed at high tech firms.
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