Tuesday, April 6, 2010

MA Gets Poor Grades on Greater Boston Chamber's Tax Competitiveness Scorecard

It’s no secret that Massachusetts is a high-cost state for employers. But a new report from the Greater Boston Chamber of Commerce underscores one of the biggest reasons why companies are so reluctant to do business in Massachusetts.

According to the Chamber’s latest tax competitiveness scorecard, which was just released today, Massachusetts has the eighth highest corporate tax burden in the country. That puts the state at a huge disadvantage compared to much of the New England region and the rest of the nation when it comes to attracting employers and jobs.

With a corporate tax burden that is 39 percent higher than the national average, the Chamber warns that “the average company looking to hire, expand, or locate will find Massachusetts much less attractive than competitor states.” Meanwhile, with the state's unemployment rate reaching a 34-year high of 9.5 percent, the Patrick Administration has yet to offer anything that even remotely resembles a statewide economic plan to assist businesses and get Massachusetts' residents back to work.

Be sure to check out the Chamber’s press release, which contains a link to the full report.