The U.S. is a large and diverse market both geographically and economically and is a leading destination for international companies. If a company wants to become a global business, selling and marketing in the U.S. is a critical part of the plan. Boston, Massachusetts is one of the leading U.S. gateways for international companies who want to investigate and/or set up a U.S. subsidiary. It has many advantages including its location on the eastern seaboard, its innovation economy and its access to capital. It is a readily accessible U.S. market entry point as the closest U.S. gateway to Europe, and has one-hour flights to 40% of the U.S. market and to 67% of the Canadian market. It is within easy driving distance to major markets in the northeast including New York, Pennsylvania and New Jersey.
Companies both large and small find that a unique set of conditions exists in Massachusetts to give them the competitive advantage necessary to succeed in today’s marketplace. The state has a young, talented employee pool to support incoming businesses with one of the most educated workforces in the world. Over 66% of working-age adults have some college education and 45% have a bachelor’s degree, which far exceeds the national average. Massachusetts attracts billions of dollars of funding every year for Research and Development (R & D) and new business formation and expansion, with the second highest overall level of R&D funding in the country. There are large concentrations of venture capitalists and angel investors for all sectors and an active and supportive state government. The Kendall Square area in Cambridge has the world’s highest concentration of venture-backed tech and biotech firms.
There are many incubators and accelerators in the Boston area meeting the needs of all innovative companies. Biohealth Management collaborates with the Cambridge Innovation Center (CIC ), which has been called “the most important building in Greater Boston and for that matter the entire state” by the newspaper, the Boston Globe . The office space hosts over 800 companies, and over 3,000 people across 3 buildings. These companies are at all stages in development, from early stage to mature companies, some with products and services on the market. The venture capital groups with offices in the CIC have over $7 billion under management. The CIC is increasingly a home for large firms wanting proximity to innovation and the start-up community such as Apple, Amazon, Facebook and Shell R & D centers.