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All of the above listed prices / memberships / credentials are subject to change. To get the most current information, be sure to visit the individual sites.
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Boston's colleges and universities have a major impact on the city and region's economy, with students contributing an estimated $4.8 billion annually to the city's economy. Not only are Boston's schools major employers, but they also attract high-tech industries to the city and surrounding region. Boston is home to a number of technology companies and is a hub for biotechnology, with the Milken Institute rating Boston as the top life sciences cluster in the country. Boston also receives the highest absolute amount of annual funding from the National Institutes of Health of all cities in the United States.
Distribution of the Boston metropolitan NECTA labor force, 2004 annual averages. Tourism comprises a large part of Boston's economy. In 2004, tourists spent $7.9 billion and made the city one of the ten-most-popular tourist locations in the country.[15] Some of the other important industries are financial services, especially mutual funds and insurance.[15] Boston-based Fidelity Investments helped popularize the mutual fund in the 1980s and has made Boston one of the top financial cities in the United States. The city is also the regional headquarters of major banks such as Bank of America and Sovereign Bank, and it is a center for venture capital. State Street Corporation, which specializes in asset management and custody services, has its headquarters in the city. Boston is also a printing and publishing center—Houghton Mifflin is headquartered within the city, along with Bedford-St. Martin's Press, Beacon Press, and Little, Brown and Company. O'Reilly Media has offices in Cambridge and Pearson PLC publishing units also employ several hundred people in Boston. The city is home to four major convention centers—the Hynes Convention Center in the Back Bay, the Bayside Expo Center in Dorchester, and the World Trade Center Boston and Boston Convention and Exhibition Center on the South Boston waterfront. However, in 2009, the Bayside Expo Center property was lost in a foreclosure on Corcoran-Jennison to a Florida-based real estate firm, LNR/CMAT, who bought it. Soon after, the University of Massachusetts Boston bought the property from them to build future campus facilities.
Because of Boston's status as a state capital and the regional home of federal agencies, law and government are another major component of the city's economy.
Some of the major companies headquartered within the city are the Liberty Mutual insurance company; Gillette (now owned by Procter & Gamble); and Teradyne, one of the world's leading manufacturers of semiconductor and other electronic test equipment. New Balance has its headquarters in the city. Boston is also home to management consulting firms The Boston Consulting Group and Bain & Company, as well as the private equity group Bain Capital.[94] Other major companies are located outside the city, especially along Route 128.[95] Route 128 serves as the center of the region's high-tech industry. In 2006, Boston and its metropolitan area ranked as the fourth-largest cybercity in the United States with 191,700 high-tech jobs. Only NYC Metro, DC Metro, and Silicon Valley had bigger high-tech sectors.[96] The Port of Boston is a major seaport along the United States' East Coast and is also the oldest continuously operated industrial and fishing port in the Western Hemisphere.[97] Boston is classified as an "incipient global city" by a 2004 study group at Loughborough University in England.[98] A 2008 study ranked Boston among the top 10 cities in the world for a career in finance
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