8 Reasons Boston is the Best City for a Business

Boston’s independent spirit and classification as "the hub" of change places it among the top metros for economic growth. Called the birthplace of the American Revolution, companies from around the globe benefit from its vibrant economic ecosystem.

More than 28% of Boston's population is foreign-born, creating a progressive and European-style city with access to premier resources and innovation. It ranks as sixth in the world for population diversity. The cobblestone streets and colonial architecture create a one-of-a-kind environment with many amazing opportunities for development.

1. Thriving Center of Growth

Boston earned its nickname as “The Hub of the Universe” because of its great strides in many different sectors. The local economy is strong, and the top industries are education, health and finance.

It is the capital city of Massachusetts, a state ranked as one of the top for innovators. and it has an abundance of resources to make a business thrive. Annually, the economy grows on average 1.6%, with continual upward movement.

People love living here because of the world class lifestyle Boston offers. It was first incorporated in 1630 and has grown into a center of innovation, commerce and growth.

Boston's reputation as a city of firsts shows how steps made here create a widespread impact and positive example. It opened the first public school in the nation, and is a leader in public education. It also has a reputation for having amazing urban planning that is both green and walkable. A landscape architect named Frederick Law Olmsted created a border of greenery called the Emerald Necklace with Boston's parks, which comprises a total of 1,100 acres. This abundance of nature in a modern capital city is one of the many amazing innovations you will find.

2. Walkable Urban Location

The walkability and ease of access to public transportation support the inbuilt theme of connectedness that contributes to the strength of the economy. There are four subway lines, a rail system and a bus system. People here are in-shape and it ranks as one of the healthiest cities in the country. Physical fitness and health contribute to productivity as well as a great company culture.

3.Smart City

There are more than 35 colleges and universities in proximity to Boston, including the giants MIT and Harvard. Experience amazing synergy in Boston with an intelligent workforce positioned to make waves. Simply put, Boston and the state of Massachusetts ranks at the top in terms of human capital. More than half of workers hold a bachelor’s degree or higher, creating one of the most educated work forces on the planet. It was the first city in the United States to reach such an important milestone. It also creates a degree of "labor fluidity," as these highly qualified workers can contribute to different sectors.

4. Leader in the Health Sector

With top-notch research hospitals and a digital health boom, Boston is a gem of the healthcare economy. There are 97 hospitals in the state of Massachusetts. Every year, there is an increase in employers and employees in the medical field. Both the public and private sectors experience growth, with development in life sciences as well as biotechnology. There are summits and networks in this sector that help businesses and professionals reach new heights.

5. Abundant Community Support (Venture Capital Network)

The venture capital community in Boston supports the endeavors of many industries. Venture capitalists and angel investors are very active in the economic ecosystem here. In 2018, it outranked NYC in terms of tech investments. Boston is the third largest VC market in the United States. In the biotech industry, more than $3.1 billion was given to Massachusetts biotechnology companies with 12 initial public offerings (IPOs) in 2017. In March of 2020, there were 60 startups who benefitted from investments of more than $1.5 billion, and the previous month there were more than 50 that received more than $3.5 billion.

6. Center for Tech Innovation and Startups

The birthplace of Facebook, Reddit, and Dropbox Boston is a continual hotbed of technological innovation. It is also considered to be one of the best places for startups, with top rankings in this category from the United States Chamber of Commerce. The population of fresh talent from the universities creates an ideal environment for the disruptors and movers and shakers.

The talent and resources in Boston gives it the potential to create solutions for concerns that most concern the public. From health, to fintech and other innovations, Boston has continually shown how its start-ups help solve the world's problems.

7. Diverse Activities in Boston

People from all over the world participate in Boston’s diverse recreation opportunities. With its diverse community and network of people with multicultural backgrounds, there are many draws. Boston has many events and attractions that draw people, and also creates a lively place to call home. Boston is one of the US's top 10 tourist destinations, and it has more than 2000 restaurants as well as 62 historic sites. There are many things to see and do and ample opportunities to learn, grow and connect. Visit historic museums, see a sporting event, taste authentic seafood or visit one of the many concerts. The colleges and universities also always create gatherings and interesting happenings.

8. Well-Connected to the Rest of the World

Maritime trade has always been an essential part of Boston's economy. The Port of Boston is a fixture for sightseeing tours, cargo activity and the seafood industry. It also was the first port of entry for many Europeans immigrating to the United States. It makes for a unique city environment filled with life and energy from the seven seas.

The state of Massachusetts also has 45 public airports. You can travel anywhere in the US, from California to Texas and in between, by plane, train, bus or of course automobile.

Overall, Boston is a community-centered megapower that has innovation and fantastic quality of life. The diverse population and forward-thinking nature makes for a city that truly shines. It has ample resources including public transportation, entertainment and parks that creates the perfect work-life balance, and is an excellent choice for a location for any organization to position itself.