Springfield is regarded as the economic center for the western portion of Massachusetts. The Springfield region is a prominent retail area and provides a large number of retail jobs. Other leading industries in Springfield include healthcare, educational services and social assistance.
Springfield includes one of the largest Fortune 500 companies located in Massachusetts, Baystate Health, which also is the largest employer in the city. Due to the medical centers and institutions of higher learning, Springfield includes a noteworthy biotech industry. In collaboration with Hartford, Connecticut, the Springfield - Hartford region is known as New England's "Knowledge Corridor," which is the second largest concentration of higher learning institutions in New England. The corridor adds to the region's economy.
Springfield's leading employment sectors include retail, healthcare, education, social services and the government. Service occupations comprise 22% of the jobs in Springfield. Management, professional and related occupations provide another 22% of the jobs. Sales and office occupations comprise 19% of the labor force.
Shown below is a list of notable companies located in the Springfield, Massachusetts area:
- Baystate Health
- Breck Shampoo
- Friendly Ice Cream Corporation
- Health New England
- Massachusetts Mutual Life Insurance Company
- TD Banknorth
- Milton Bradley Company
- Smith & Wesson
- Indian Manufacturing Company
- NAI Samuel D. Plotkin & Associates
- W.F. Young, Inc
- Peter Pan Bus Lines
- American Hockey League
- United Health Group
- Itech Solutions
Some of the most popular occupations in Springfield, Massachusetts filled by college graduates are registered nurses, teachers, wholesale and manufacturing sales representatives; social and human service assistants, financial managers, management analysts; child, family and school social workers; computer applications software engineers; and medical and health services managers.
Pertinent information about Springfield, Massachusetts: Regarding the population over the age of 25, about 15% have achieved a bachelor's degree or better. The cost of living index in 2008 was at 117.7 which is higher than the country's average of 100. The estimated median household income in Springfield in 2007 was $33,000.
Associations that offer assistance to local businesses include:
- Western Massachusetts Economic Development Council
- Massachusetts Economic Development Council
- MassEcon: Massachusetts Alliance for Economic Development
Those interested in staying up-to-date with Springfield business and industry news may want to visit Republican - MassLive.com.