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Spotlight on Boston

Business Facts

A Venture "Capitol"

In 2015, companies in the pharmaceutical and biotechnology sector had the most venture capital funding in Massachusetts, according to the Boston Business Journal.

One estimate calculated 17 pharmaceutical and biotechnology funding deals in 2015, totaling USD 449.5 million.

Major Universities

The Longwood Medical Area (LMA) hosts world-famous medical campuses such as: Brigham & Women’s Hospital, Children’s Hospital, Dana-Farber Cancer Institute, Harvard Medical School, Harvard School of Public Health, Harvard School of Dental Medicine, Merck, and other healthcare, research and educational institutions. The LMA has more than 45,000 scientists, researchers and staff and over 21,000 undergraduate and graduate students.

NIH Funding

Since 1992, Boston has received over USD 28.7 billion in total NIH funding. The top eight National Institutes of Health Funded Independent Hospitals in the US are in Boston. The density of research institutions in Massachusetts means that it receives USD 351 per head in funding from the NIH according to a study by Massachusetts Institute of Technology (MIT).

Patient impact

Drugs under development in MA have the potential to treat 232,434,000 patients in the United States and 1,507,722,000 patients around the world.

MassBio

Boston is home to many promising young companies focused on gene editing, one of the hottest areas of biotech, such as Editas Medicine, CRISPR Therapeutics, Intellia and Bluebird Bio.

Gene Editing

Boston is home to many promising young companies focused on gene editing, one of the hottest areas of biotech, such as Editas Medicine, CRISPR Therapeutics, Intellia and Bluebird Bio.

Life Sciences Corridor

The life sciences corridor in Massachusetts combines the cities of Somerville, Cambridge, Boston, Quincy and Braintree, and is home to over 450 companies within the life science industry cluster.

Investment Tax Credit

Massachusetts biotechnology companies receive a 3% Investment Tax Credit (ITC) for investments in tangible depreciable assets to all state manufacturers. Massachusetts also provides a Sales & Use Tax Exemption for manufacturers and companies engaged in R&D.

Kendall Square

Kendall Square, considered to be an epicenter for some of the world’s most innovative companies, has approximately 120 biomedical firms jammed into just under a one-mile radius.

Fun Facts

Number 24

Founded in 1630, Boston is the 24th largest city in the United States with a population of nearly 650,000 people. The Boston metropolitan area is the eleventh largest in the United States with a population of over 4.4 million people, according to US census estimates. It is the largest city in Massachusetts and New England (Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut), and the capital of the The Commonwealth of Massachusetts.

Early days

Boston was founded by Puritan colonists from England. Most early settlers of Boston were Puritans, who placed their strong "Puritan ethic" stamp on the city. The Puritans who came to Boston were not terribly tolerant of "other" religions. Many of the surrounding colonies were founded by people fleeing the persecution of the Puritans.

Nickname

The city’s nickname is "Beantown" and is also known as "The Hub."

Thanksgiving

The very first Thanksgiving Day of our nation was celebrated  in 1621 in Plymouth, Massachusetts, which lies about 40 miles southeast of Boston. In 1620, the Pilgrims landed in Plymouth where they founded Plymouth Colony, which would later be incorporated into the Massachusetts Bay Colony in 1691.

The famous pie

The Boston cream pie was invented at the Omni Parker House in Boston and is now the official dessert of the state.

Tea, anyone?

You can’t talk about Boston without mentioning the famous Boston Tea Party incident. On the night of December 16, 1773, Samuel Adams and the Sons of Liberty boarded three ships in the Boston harbor and threw 342 chests of tea overboard as an act of defiance toward the King of England and strict taxation on imported teas and goods. This resulted in the passage of the punitive Coercive Acts in 1774 and pushed the two sides closer to war.

A Fan Favorite

Fenway Park opened in 1912 and is the oldest original major league baseball stadium still in use.  And the Red Sox have patented the shade Fenway Green, which is the color you will see around the stadium and on the marquee.

Boston is well-known for its dedicated baseball fans. The city is home to the Boston Red Sox, 8 World Series champions and winners of 13 AL Pennants.

Freedom Trail

The 2.5 mile Freedom Trail is a red-lined route that leads you to 16 historic locations where you can experience the roots of the American Revolution in Boston.

Historic Beauty

The Boston Common and the Public Garden are the oldest public park in the country, founded in 1634. Originally used as a cow pasture, it served briefly as a camp for the British before the American Revolutionary War, it was dedicated as a park in 1804. The Public Garden was established in 1837 and was the first public botanical garden in the United States.