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Economy | Top publicly traded Boston companies | Top City Employers
🇺🇸 Boston, officially the City of Boston, is the capital and most populous city of the Commonwealth of Massachusetts in the United States and 24th most populous city in the country. The city proper covers about 48.4 sq mi (125 km²) with a population of 675,647 in 2020, also making it the most populous city in New England. The city is the economic and cultural anchor of a substantially larger metropolitan area known as Greater Boston, a metropolitan statistical area (MSA) home to a census-estimated 4.8 million people in 2016 and ranking as the tenth-largest MSA in the country. A broader combined statistical area (CSA), generally corresponding to the commuting area and including Providence, Rhode Island, is home to some 8.2 million people, making it the sixth most populous in the United States.

Boston is one of the oldest municipalities in the United States, founded on the Shawmut Peninsula in 1630 by Puritan settlers from the English town of the same name. It was the scene of several key events of the American Revolution, such as the Boston Massacre, the Boston Tea Party, the Battle of Bunker Hill and the siege of Boston. Upon American independence from Great Britain, the city continued to be an important port and manufacturing hub as well as a centre for education and culture. The city has expanded beyond the original peninsula through land reclamation and municipal annexation. Its rich history attracts many tourists, with Faneuil Hall alone drawing more than 20 million visitors per year. Boston's many firsts include the United States' first public park (Boston Common, 1634), first public or state school (Boston Latin School, 1635) first subway system (Tremont Street subway, 1897), and first large public library (Boston Public Library, 1848).

Today, Boston is a thriving centre of scientific research. The Boston area's many colleges and universities make it a world leader in higher education, including law, medicine, engineering and business, and the city is considered to be a global pioneer in innovation and entrepreneurship, with nearly 5,000 startups. Boston's economic base also includes finance, professional and business services, biotechnology, information technology and government activities. Households in the city claim the highest average rate of philanthropy in the United States; businesses and institutions rank among the top in the country for environmental sustainability and investment.
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Economy A global city, Boston is placed among the top 30 most economically powerful cities in the world. Encompassing $363 billion, the Greater Boston metropolitan area has the sixth-largest economy in the country and 12th-largest in the world.

Boston's colleges and universities exert a significant impact on the regional economy. Boston attracts more than 350,000 college students from around the world, who contribute more than US$4.8 billion annually to the city's economy. The area's schools are major employers and attract industries to the city and surrounding region. The city is home to a number of technology companies and is a hub for biotechnology, with the Milken Institute rating Boston as the top life sciences cluster in the country. Boston receives the highest absolute amount of annual funding from the National Institutes of Health of all cities in the United States.

The city is considered highly innovative for a variety of reasons, including the presence of academia, access to venture capital, and the presence of many high-tech companies. The Route 128 corridor and Greater Boston continue to be a major centre for venture capital investment, and high technology remains an important sector.

Tourism also composes a large part of Boston's economy, with 21.2 million domestic and international visitors spending $8.3 billion in 2011. Excluding visitors from Canada and Mexico, over 1.4 million international tourists visited Boston in 2014, with those from China and England, Scotland & Wales leading the list. Boston's status as a state capital as well as the regional home of federal agencies has rendered law and government to be another major component of the city's economy. The city is a major seaport along the East Coast of the United States and the oldest continuously operated industrial and fishing port in the Western Hemisphere.

Boston-based Fidelity Investments helped popularise the mutual fund in the 1980s and has made Boston one of the top financial centres in the United States. The city is home to the headquarters of Santander Bank, and Boston is a centre for venture capital firms. State Street Corporation, which specialises in asset management and custody services, is based in the city. Boston is a printing and publishing centre—Houghton Mifflin Harcourt is headquartered within the city, along with Bedford-St. Martin's Press and Beacon Press. Pearson PLC publishing units also employ several hundred people in Boston. The city is home to three major convention centres—the Hynes Convention Center in the Back Bay, and the Seaport World Trade Center and Boston Convention and Exhibition Center on the South Boston waterfront. The General Electric Corporation announced in January 2016 its decision to move the company's global headquarters to the Seaport District in Boston, from Fairfield, Connecticut, citing factors including Boston's pre-eminence in the realm of higher education. Boston is home to the headquarters of several major athletic and footwear companies including Converse, New Balance, and Reebok. Rockport, Puma and Wolverine World Wide, Inc. headquarters or regional offices are just outside the city.

In 2019, a yearly ranking of time wasted in traffic listed Boston area drivers lost approximately 164 hours a year in lost productivity due to the area's traffic congestion. This amounted to $2,300 a year per driver in costs.
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Top publicly traded Boston companies: 1 General Electric; 2 Liberty Mutual; 3 State Street; 4 American Tower.
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Top City Employers: 1 Brigham and Women's Hospital

2 Massachusetts General Hospital

3 Beth Israel Deaconess Medical Center

4 Boston Children's Hospital

5 Boston Medical Center

6 Boston University School of Medicine

7 Boston University

8 Floating Hospital for Children

9 John Hancock Life Insurance Co.

10 Liberty Mutual Group Inc.
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Boston, Massachusetts, United States

Image: Adobe Stock iuliia_n #175885945

Boston is rated Alpha − by the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation. Alpha level cities are linked to major economic states and regions and into the world economy.

Boston is the #12 city in the world according to the Global Financial Centres Index (GFCI) which evaluates and ranks the competitiveness of the major financial centres of the world according to a wide range of criteria – Human Capital, Business, Finance, Infrastructure and Reputation.

Boston is the #25 city in the world according to the Global Power City Index (GPCI) which evaluates and ranks the major cities of the world according to their magnetism, or their comprehensive power to attract people, capital, and enterprises from around the world. It does so through measuring six key functions: Economy, Research and Development, Cultural Interaction, Liveability, Environment, and Accessibility.

Boston is ranked #16 and rated B by the Global Urban Competitiveness Report (GUCR) which evaluates and ranks world cities in the context of economic competitiveness. B cities are international hub cities. Boston was ranked #81 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Boston has a population of over 692,600 people. Boston also forms part of the Greater Boston metropolitan area which has a population of over 4,875,390 people. Boston is the #87 hipster city in the world, with a hipster score of 4.6416 according to the Hipster Index which evaluates and ranks the major cities of the world according to the number of vegan eateries, coffee shops, tattoo studios, vintage boutiques, and record stores. Boston is ranked #6 for startups with a score of 49.835.

To set up a UBI Lab for Boston see: https://www.ubilabnetwork.org Twitter: https://twitter.com/UBILabNetwork

Twin Towns, Sister Cities Boston has links with:

🇪🇸 Barcelona, Spain 🇨🇭 Basel, Switzerland 🇲🇿 Beira, Mozambique 🇮🇪 Belfast, Northern Ireland 🏴󠁧󠁢󠁥󠁮󠁧󠁿 Boston, England 🇩🇰 Copenhagen, Denmark 🇨🇳 Guangzhou, China 🇨🇳 Hangzhou, China 🇯🇵 Kyōto, Japan 🇫🇷 Lyon, France 🇦🇺 Melbourne, Australia 🇲🇽 Mexico City, Mexico 🇨🇦 Montreal, Canada 🇮🇹 Padua, Italy 🇨🇻 Praia, Cabo Verde 🇬🇭 Sekondi-Takoradi, Ghana 🇫🇷 Strasbourg, France 🇹🇼 Taipei, Taiwan 🇬🇷 Thessaloniki, Greece

World Trade Center Boston

Oliver Percy Bernard |
🏴󠁧󠁢󠁥󠁮󠁧󠁿 Architect/Theatre Set Designer Oliver Percy Bernard is associated with Boston. He served as a Camouflage Officer in the Royal Engineers during World War One.
Walter Gropius |
🇩🇪 🇺🇸 Architect/Furniture/Industrial Designer Walter Gropius is associated with Boston. In 1911 Gropius joined and subsequently became an active member of the Deutscher Werkbund.
John Turnbull Maclaren |
🏴󠁧󠁢󠁳󠁣󠁴󠁿 Architect John Turnbull Maclaren is associated with Boston. He was President of the Dundee Institute of Architects in 1909.
Henry Vaughan |
🏴󠁧󠁢󠁥󠁮󠁧󠁿 🇺🇸 Architect Henry (Vaughn, Henry) Vaughan is associated with Boston.
John Ninian Comper |
🏴󠁧󠁢󠁳󠁣󠁴󠁿 Architect/Stained Glass/Furniture Designer John Ninian Comper is associated with Boston. He was knighted for his services to architecture in 1950.
Gordon Lorimer Wright |
🏴󠁧󠁢󠁳󠁣󠁴󠁿 🇨🇦 Architect Gordon Lorimer Wright is associated with Boston. He he emigrated to Canada in 1910.