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Economic Overview

scientistsCambridge, Massachusetts is commonly referred to as the most entrepreneurial place on earth. More than 105,000 people are employed by Cambridge's nearly 5,300 businesses, in fields such as professional services, health care, R&D, technology, and the city's over 150 nonprofit and social service agencies.

The two largest employers in Cambridge are Harvard and MIT, and one-sixth of all Cambridge jobs are in higher education. Other major employment sectors include government at the local, state and federal levels, health care, and life sciences and technology. Cambridge's largest private employers are almost exclusively biotechnology, health care and high tech firms. View Top 25 Employers

Biotechnology/Life Sciences
Cambridge has established itself as the epicenter of the world's life sciences industry, currently hosting over 125 biotechnology companies. Discoveries are made every day in Cambridge's laboratories. Nearly one-third of the life science corporations in Massachusetts are in Cambridge. Many of these companies are in Kendall Square, where manufacturing industries used to be based. Leading-edge organizations such as Alnylam, Amgen, Biogen, Broad Institute, Genzyme, Johnson & Johnson, Takeda, Novartis, Pfizer, Vertex Pharmaceuticals and the Whitehead Institute for Biomedical Research employ more than 10,000 people.

High Tech
The city's high tech sector accounts for nearly fifteen percent of Cambridge's employment base. Many of the world
's largest technology companies got their start in Cambridge. Both start-ups and industry leaders such as Akamai Technologies, Draper, Google, Facebook, Harmonix Music Systems, HubSpot, MicrosoftRaytheon BBN Technologies, Twitter and VMware are attracted to Cambridge's well-educated work force, academic institutions, access to capital, and thriving entrepreneurial spirit.


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