Business

This New England state has the best economy in the country, according to WalletHub

The Commonwealth's key drivers of economic performance are investment in high-tech industries and academic research.

View of Boston from MIT in Cambridge across the Charles River. (Suzanne Kreiter/Globe staff)

By Annie Jonas

1 minute to read

Massachusetts aced a new WalletHub report on state economic health, taking the number one spot in the lineup.

“Massachusetts has the best state economy, and it invests a lot more in both industry and academic R&D than most other states, which leads to big payoffs in economic growth,” Chip Lupo, a WalletHub Analyst, said in WalletHub’s report on 2025’s Best & Worst State Economies.

Source: WalletHub

To determine the best state economies, WalletHub compared the 50 states (including Washington D.C.) across 28 key metrics of economic performance and strength. The data set ranges from GDP growth to startup activity to the share of jobs in high-tech industries.

Advertisement:

Each metric was graded on a 100-point scale, with a score of 100 representing the highest economic performance. Massachusetts had a total score of 70.84.

Across sectors of economic activity, health and innovation, the Commonwealth ranked highly: it has the highest share of jobs in high-tech industries, the third-highest share of STEM professionals, and the second-most invention patents per capita.

In addition, Massachusetts has the highest percentage of firms listed on the Technology Fast 500 list.

Experts told the personal finance website that while a strong state economy doesn’t guarantee success for its residents, it makes financial health more attainable.

“Factors like a low unemployment rate and high average income help residents purchase property, pay down debt and save for the future. The best state economies also encourage growth by being friendly to new businesses and investing in new technology that will help the state deal with future challenges and become more efficient,” Lupo said.

What are the top state economies in 2025?

  1. Massachusetts
  2. Utah
  3. Washington
  4. California
  5. New Hampshire
  6. North Carolina
  7. Idaho
  8. Texas
  9. Maryland
  10. Colorado

Check out WalletHub’s in-depth look at the best state economies in 2025.

Profile image for Annie Jonas

Annie Jonas

Annie Jonas is a Community writer at Boston.com. She was previously a local editor at Patch and a freelancer at the Financial Times.

Sign up for the Today newsletter

Get everything you need to know to start your day, delivered right to your inbox every morning.

SIGN UP

To comment, please create a screen name in your profile

Conversation

This discussion has ended. Please join elsewhere on Boston.com