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Boston, MABoston is the capital of the Commonwealth of Massachusetts in the United States. It is the largest city of the region known as New England. Boston is one of the oldest, wealthiest, and most culturally significant large cities in the United States. Its economy is based on education, health care, finance, and technology. The city lies at the center of the Boston CMSA (Consolidated Metropolitan Statistical Area), the seventh largest in the United States. The area encompasses parts of the states of New Hampshire, Maine, Rhode Island, and Connecticut. The city also lies at the center of Greater Boston, which also includes the cities of Cambridge, Brookline, Quincy, Newton, and many suburban communities farther from Boston.
[edit] The local economyBoston's colleges and universities have a major impact on the city and region's economy. Not only are they major employers, but they also attract high-tech industries to the city and surrounding region, including computer hardware and software companies as well as biotechnology companies like Millennium Pharmaceuticals, Millipore, and Biogen Idec. Boston receives the highest amount of annual funding from the National Institutes of Health of all cities in the United States. Other important industries include financial services, especially mutual funds and insurance. Boston-based Fidelity Investments helped popularize the mutual fund in the 1980s, and has made Boston one of the top financial cities in the United States. The city is also the regional headquarters of major banks such as Bank of America and Sovereign Bank, and a center for venture capital. Boston is also a printing and publishing center. Textbook publisher Houghton Mifflin is headquartered within the city. The city is also a major convention destination with four major convention centers: the Hynes Convention Center in the Back Bay, the Bayside Expo Center in Dorchester, and the World Trade Center Boston and Boston Convention and Exhibition Center on the South Boston waterfront. Because of its status as a state capital and the regional home of federal agencies, law and government is another major component of the city's economy. Major companies headquartered within the city include Gillette, owned by Procter & Gamble, and Teradyne, one of the world's leading manufacturers of semiconductors and other electronic equipment. New Balance Athletic Shoe, Inc. has its headquarters in the city. Other major companies are located outside the city, especially along Route 128. The Port of Boston is the largest and busiest seaport in Massachusetts. It is also a major seaport along the United States east coast as well as a major fishing port. Source - Wikipedia: Boston, Massachusetts [edit] Recent Boston business newsLinks to recent headlines via Topix.net
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This page was created on Jun 09, 2006 |
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