Reported GDP in 2009: $276.5 billion
Reported GDP today: $298.3 billion
Population change 2000-10: 4.8%
Judging by the way the Red Sox spent during the offseason, there's no shortage of cash in Greater Boston. Harvard, the Massachusetts Institute of Technology, Boston University, Boston College and the 48 other colleges and universities in the area provide a healthy job base, as do Massachusetts General Hospital, Partners Healthcare and the city's sprawling medical community. But the presence of financial companies such as Fidelity Investments and State Street Financial, biotech companies such as Biogen Idec (BIIB - Get Report), Genzyme (GENZ), Sanofi Aventis (SNy) and Novartis (AG - Get Report) and tech companies such as Akamai (AKAM - Get Report) helped Greater Boston breeze through the recession and gain population in the process. According to the Brookings Institute's Metro Monitor, Boston actually gained state government jobs during the recession, saw three quarters of consecutive job growth through 2010 and regained more than a quarter of the jobs it lost between its pre-recession high and post-recession low.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts