Worcester Business Journal

October 31, 2022

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wbjournal.com | October 31, 2022 | Worcester Business Journal 23 today. fidelitybankonline.com Clarity. Confidence. You deserve a bank that actually cares. With our unique LifeDesign Banking approach, you will get the clarity you need to make informed decisions, so that you'll be able to move forward with confidence. 800.581.5363 | FidelityBankOnline.com T E C H N O L O G Y & I N N O V A T I O N F A C T B O O K Greater Worcester is home to a $43.5-billion economy. These are the largest industries in the region, as of 2020, the most recent year available. Notes: Greater Worcester is defined as Worcester County and Wyndham County, Conn. Dollar figures are in chained 2012 dollars. Source: U.S. Bureau of Economic Analysis Greater Worcester's largest industries Professional, scientific, and technical services 16.5% $89.7 billion Real estate, rental, and leasing 12.3% $66.7 billion Manufacturing 10.3% $55.8 billion Health care and social assistance 8.9% $48.1 billion Government and government enterprises 8.7% $47.4 billion Information 8.6% $46.8 billion Finance and insurance 8.4% $45.8 billion Wholesale trade 4.7% $25.6 billion Retail trade 3.8% $20.8 billion Construction 3.2% $17.2 billion Administrative and support and waste management and remediation services 3.0% $16.4 billion Management of companies and enterprises 2.8% $15.1 billion Educational services 2.6% $14.4 billion Accommodation and food services 2.2% $11.8 billion Other services (except government and government enterprises) 1.5% $8.3 billion Transportation and warehousing 1.4% $7.4 billion Utilities 1.4% $7.3 billion Arts, entertainment, and recreation 0.9% $4.7 billion Agriculture, forestry, fishing, and hunting 0.1% $538 million Mining, quarrying, and oil and gas extraction 0.0% $218 million % of total Economic economy output Note: Dollar figures are in chained 2012 dollars. Source: U.S. Bureau of Economic Analysis Massachusetts' largest industries Massachusetts is home to a $544-billion economy. These are the largest industries in the state, as of the first quarter 2022, the most recent data available. % of total Economic economy output Finance, insurance, real estate, rental, and leasing 19.7% $8.6 billion Manufacturing 14.9% $6.5 billion Educational services, health care, and social assistance 13.3% $5.8 billion Government and government enterprises 12.4% $5.4 billion Professional and business services 11.7% $5.1 billion Retail trade 6.1% $2.7 billion Utilities 4.5% $1.9 billion Wholesale trade 4.3% $1.9 billion Construction 3.8% $1.6 billion Information 3.0% $1.3 billion Arts, entertainment, recreation, accommodation, and food services 2.2% $959 million Transportation and warehousing 2.2% $949 million Other services (except government and government enterprises) 1.9% $805 million Mining, quarrying, and oil and gas extraction 0.2% $94 million Agriculture, forestry, fishing, and hunting 0.2% $66 million

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