State trade fact sheets - Massachusetts
Massachusetts
Highlights
- 317 Canadian-owned businesses employ 32,022 workers in Massachusetts
- Canada is the #1 customer for most states,
including Massachusetts - 76% of Canadian exports to the U.S. are raw materials, parts, and components used to create other goods in the United States
- Canada sells more to Massachusetts than it sells to Mexico
Stash Energy founder Jordan Kennie. Photo: Stash Energy
New Brunswick Clean Tech Comes to Boston!
In September 2020, New Brunswick-based clean tech start up Stash Energy became one of the newest members of Boston-based Greentown Labs — North America’s premier clean tech accelerator. As a member of the extremely selective and prestigious clean tech accelerator, Stash Energy will enable satellite operations through Greentown’s Boston office and lab space helping to propel expansion to the U.S. market. Energy storage systems like the Stash Energy Heat Pump allow homeowners to store energy during off-peak hours for use during peak times when electricity is more expensive for the utility to generate helping to save consumers money and protect the environment.
Canadian Innovation in the Hub
In 2013, the Consulate General of Canada launched its Canadian Technology Accelerator (CTA) in Boston program: CTA@Boston. CTA Boston is an award-winning federal accelerator program that connects selected Canadian IT and Life Science companies to U.S. customers, strategic partners and investors and provides them with high-impact advisory services. Clients work out of the Cambridge Innovation Center (CIC) for the 5-month program. CTA@Boston contributes to the local economy through its residence at the CIC, and participating companies bring new technologies, partnerships, ideas, energy, and expertise that further enrich Massachusetts’ thriving technology and innovation ecosystem. Awarded global recognition for the Accelerator Program of the Year Award from the International Business Innovation Association, since its inception the CTA@Boston has managed 131 Canadian companies which have since raised $82.6 million in capital, created $87.3 million in new revenue, developed 344 new strategic partnerships and created over 500 new jobs.
Canadian-Owned Companies Support Massachusetts Jobs
317 Canadian-owned companies operate in the Commonwealth of Massachusetts. These companies create over 32,000 jobs in Massachusetts, while the Commonwealth exports over $5 billion of goods and services to Canada. Canadian-owned companies, including John Hancock, SunLife, TD Bank and MFS are clearly major contributors to Massachusetts’ economy, employing residents in every sector of the economy, paying taxes locally and contributing to the local economy through these salary dollars.
Massachusetts exports $3.6 billion in goods to Canada annually
Massachusetts exports to Canada by industry
- Agriculture: 8%
- Chemicals: 14%
- Equipment & machinery: 32%
- Forest products: 7%
- Minerals & metals: 22%
- Plastics & rubbers: 8%
- Transportation: 6%
- Other: 3%
Massachusetts imports $11.4 billion in goods from Canada annually
Massachusetts imports from Canada by industry
- Agriculture: 28%
- Energy: 25%
- Equipment & machinery: 6%
- Forest products: 9%
- Minerals & metals: 20%
- Plastics & rubbers: 3%
- Other: 9%
Top Massachusetts goods exports to Canada
- Pearls, gems, precious metals & jewelry: $627 million
- Optical, medical & precision instruments: $483 million
- Pharmaceutical products: $272 million
- Plastics & plastic articles: $271 million
- Paper & paperboard: $183 million
- Aircraft & parts: $148 million
- Computers: $140 million
- Fish & crustaceans: $117 million
- Telephones & AV recording equipment: $74 million
- Paints, pigments, varnishes, dyestuffs & inks: $63 million
Top Massachusetts goods imports from Canada
- Fuel oil: $2.2 billion
- Fish & crustaceans: $2.0 billion
- Pearls, gems, precious metals & jewelry: $1.7 billion
- Natural gas & other gases: $536 million
- Meat, fish & seafood preparations: $514 million
- Softwood lumber: $403 million
- Plastics & plastic articles: $370 million
- Paper & paperboard: $334 million
- Wood & semi-finished wood products: $278 million
- Iron & steel tubes, pipes & sheets: $213 million
Massachusetts exports $2.0 billion in services to Canada annually
Top Massachusetts services exports to Canada
- Charges for the use of intellectual property: $557 million
- Business services: $553 million
- Financial services: $458 million
- Travel (including for eduction): $210 million
- Telecommunications, compuer & information services: $82 million
Connect to our team
For more information on Massachusetts’ trade with Canada, please contact our trade team in Boston.
April 2022
- Unless otherwise mentioned, all figures are based on 2021 data in U.S. dollars.
- U.S. Census Bureau: goods trade, Canada’s export ranking (2/2022 release).
- The Trade Partnership: 2019 services exports (estimated, 11/2021 release).
- Dun + Bradstreet: Canadian-owned businesses (3/2022 release).
- U.S. Bureau of Labor Statistics: median annual Massachusetts wage ($70,010, 3/2020 release).
- Figures may not add up due to rounding.
