May 2, 2024
BU Today recently published an article referencing research conducted by Mark Williams, Master Lecturer of Finance, discussing outmigration in Massachusetts.
Despite the state’s status as an education and technology hub, there has been a surge of people leaving. The Study showed the decision to move is complicated and multifactorial. Main drivers include level of income tax, housing, and healthcare costs. Although COVID sped up this trend, by 2027, the Bay State could experience annual moving rates that exceed pandemic levels.
“This is concerning from an economic and political standpoint. As more people leave, they take their economic spending with them and the state also loses income tax revenue,” Williams adds.
Policymakers need to make stemming outmigration a top priority.
