Worcester Business Journal

wbjournal.com | October 25, 2021 | Worcester Business Journal 21 E M P L O Y M E N T F A C T B O O K Central Massachusetts is home to a $45.5-billion economy. Here are the industries who contributed the most to that total in 2019, the most recent year available. Note: All dollar figures are in chained 2012 U.S. dollars. Source: U.S. Bureau of Economic Analysis Largest industries in Central Massachusetts Professional and business services $110 billion 20.95% Real estate and rental and leasing $64 billion 12.28% Manufacturing $56 billion 10.75% Government and government enterprises $47 billion 8.99% Health care and social assistance $47 billion 8.97% Finance and insurance $46 billion 8.77% Information $39 billion 7.51% Wholesale trade $26 billion 4.97% Retail trade $22 billion 4.27% Construction $17 billion 3.33% Educational services $13 billion 2.54% Accommodation and food services $12 billion 2.22% Transportation and warehousing $7 billion 1.40% Utilities $7 billion 1.34% Arts, entertainment, and recreation $4 billion 0.78% Agriculture, forestry, fishing and hunting $0.5 billion 0.10% Mining, quarrying, and oil and gas extraction $0.2 billion 0.04% % of GDP total GDP Note: All dollar figures are in chained 2012 U.S. dollars. Source: Bureau of Economic Analysis Largest industries in Massachusetts Massachusetts is home to a $524-billion economy. Here are the industries who contributed the most to that total in 2019, the most recent year available. % of GDP total GDP Real estate and rental and leasing $6.7 billion 14.72% Manufacturing $6.5 billion 14.32% Government and government enterprises $5.6 billion 12.25% Professional and business services $5.2 billion 11.48% Health care and social assistance $5.2 billion 11.34% Retail trade $2.8 billion 6.06% Finance and insurance $2.5 billion 5.56% Wholesale trade $2 billion 4.30% Utilities $1.6 billion 3.58% Information $1.3 billion 2.86% Accommodation and food services $1.1 billion 2.44% Transportation and warehousing $1 billion 2.24% Educational services $1 billion 2.23% Arts, entertainment, and recreation $0.3 billion 0.55% Mining, quarrying, and oil and gas extraction $0.09 billion 0.20% Our team is here for you Local, Independent, Certified Financial Planners www.CarrFinancial.net Call for a no-obligation discussion about what we can do for you Call 508.795.0264 20 Park Avenue Worcester, MA 01605 T A X S T R A T E G Y | I N V E S T M E N T | R E T I R E M E N T Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group & Carr Financial Group are separate entities from LPL Financial. 800-262-1001 | iccreditunion.org Insured by NCUA We've got your business covered. Small to large and anything in between – Business Solutions

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