This Week at Pioneer › The Loss of Massachusetts Headquarters

A stark decline in the number of new headquarters combined with closures, contraction, and moving out of state has caused a massive drop in the number of jobs at headquarters in Massachusetts. During a period when job growth was stagnant, only the growth of standalone firms counterbalanced painful declines in employment at headquarters.

Heading Down: The Loss of Massachusetts Headquarters, the second paper in a series to understand job and business growth and destruction over the past 20 years, identifies the key driver of this job loss as the imbalance between the creation of new headquarters and job losses at headquarters going out of business. While job losses at contracting HQs and relocating HQs were largely balanced out by expanding HQs and HQs coming into the state, job losses from HQ closure amounted to over 240,000 lost jobs on a net basis.

Read the full report here.