State trade fact sheets - Massachusetts
Massachusetts
Highlights
- 247 Canadian-owned businesses employ 31,425 workers in Massachusetts
- Canada is the #1 customer for most states,
including Massachusetts - Over 76% of U.S. imports from Canada are goods that are used in the production of other goods
- Canada sells more to Massachusetts than it sells to the UK
Stash Energy founder Jordan Kennie. Photo: Stash Energy
New Brunswick Clean Tech Comes to Boston!
New Brunswick-based clean tech startup Stash Energy recently 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 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 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, 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 close to 510 new jobs since its inception.
Canadian-Owned Companies Support Massachusetts Jobs
In 2020, 247 Canadian-owned companies operated in the Commonwealth of Massachusetts. These companies account for over 31,000 jobs in Massachusetts, contributing $2.1 billion in salary dollars annually. Canadian-owned companies, including John Hancock, SunLife, TD Bank and MFS are clearly major contributors to Massachusetts’ economy employing MA residents in every sector of the economy, paying taxes locally and contributing to the local economy through these salary dollars.
Massachusetts exports $2.7 billion in goods to Canada annually
Massachusetts exports to Canada by industry
- Agriculture: 9%
- Chemicals: 11%
- Equipment & machinery: 36%
- Forest products: 6%
- Minerals & metals: 17%
- Plastics & rubbers: 9%
- Transportation: 8%
- Other: 4%
Massachusetts imports $7.8 billion in goods from Canada annually
Massachusetts imports from Canada by industry
- Agriculture: 25%
- Energy: 23%
- Equipment & machinery: 8%
- Forest products: 10%
- Minerals & metals: 19%
- Plastics & rubbers: 3%
- Transportation: 3%
- Other: 9%
Top Massachusetts goods exports to Canada
- Optical, medical & precision instruments: $375 million
- Pearls, gems, precious metals & jewelry: $329 million
- Plastics & plastic articles: $223 million
- Aircraft & parts: $177 million
- Computers: $161 million
- Paper & paperboard: $130 million
- Pharmaceutical products: $104 million
- Fish & crustaceans: $95 million
- Telephones & AV recording equipment: $70 million
- Iron & steel tubes, pipes & sheets: $41 million
Top Massachusetts goods imports from Canada
- Fuel oil: $1.4 billion
- Fish & crustaceans: $1.2 billion
- Pearls, gems, precious metals & jewelry: $1.0 billion
- Natural gas & other gases: $334 million
- Paper & paperboard: $302 million
- Softwood lumber: $270 million
- Plastics & plastic articles: $257 million
- Meat, fish & seafood preparations: $243 million
- Wood & semi-finished wood products: $211 million
- Iron & steel tubes, pipes & sheets: $187 million
Massachusetts exports $2.3 billion in services to Canada annually
Top Massachusetts services exports to Canada
- Travel Services: $551 million
- Business & Professional Services: $549 million
- Financial Services: $428 million
- Royalties: $389 million
- Tech Services: $272 million
Connect to our team
For more information on Massachusetts’ trade with Canada, please contact our trade team in Boston.
April 2021
- Unless otherwise mentioned, all figures are based on 2020 data in U.S. dollars.
- U.S. Census Bureau: goods trade, Canada’s export ranking (2/2021 release).
- The Trade Partnership: 2019 services exports (estimated, 2/2021 release).
- Dun + Bradstreet: Canadian-owned businesses (3/2021 release).
- U.S. Bureau of Labor Statistics: median annual Massachusetts wage ($65,680, 3/2020 release).
- Figures may not add up due to rounding.
