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93-497: OCLN member libraries: Public libraries: Academic libraries: Former members: Official website This Massachusetts -related article is a stub . You can help Misplaced Pages by expanding it . Massachusetts Masshole Massachusite (traditional) Massachusetts ( / ˌ m æ s ə ˈ tʃ uː s ɪ t s / , /- z ɪ t s / MASS -ə- CHOO -sits, -⁠zits ; Massachusett : Muhsachuweesut [məhswatʃəwiːsət] ), officially

186-566: A Wôpanâak word muswachasut , segmented as mus(ây) "big" + wach "mountain" + -s "diminutive" + - ut "locative". This word has been translated as "near the great hill", "by the blue hills", "at the little big hill", or "at the range of hills", in reference to the Blue Hills —namely, the Great Blue Hill , located on the boundary of Milton and Canton . Massachusett has also been represented as Moswetuset . This comes from

279-580: A right to shelter law, and the first U.S. state, and one of the earliest jurisdictions in the world to legally recognize same-sex marriage . Harvard University in Cambridge is the oldest institution of higher learning in the United States , with the largest financial endowment of any university in the world. Both Harvard and MIT , also in Cambridge, are perennially ranked as either

372-469: A centre for finance in the Middle East , including for Islamic finance . The rapid rise of India has enabled Mumbai to become an emerging financial centre. India is also making an International Financial Centre GIFT City from scratch. GIFT city is now functional and has already won the crown of fastest emerging International Finance Centre of South Asia. Linked to the rise of these new IFCs, has seen

465-722: A co-founder of the Special Olympics . In 1966, Massachusetts became the first state to directly elect an African American to the U.S. senate with Edward Brooke . George H. W. Bush , 41st President of the United States (1989–1993) was born in Milton in 1924. Other notable Massachusetts politicians on the national level included Joseph W. Martin Jr. , Speaker of the House (from 1947 to 1949 and then again from 1953 to 1955) and leader of House Republicans from 1939 until 1959 (where he

558-538: A financial city: "a pool of capital to lend or invest; a decent legal and taxation framework; and high-quality human resources". New York, London, and Tokyo are in every list of major IFCs. Some of the major RFCs (see below), such as Paris, Frankfurt, Chicago, and Shanghai appear as IFCs in some lists. These centres appear in all FSF–IMF lists of OFCs and, bar the Caribbean OFCs of the Cayman Islands,

651-565: A frontrunner in the Democratic primaries for the 2020 presidential election. However, she later suspended her campaign and endorsed presumptive nominee Joe Biden . Two pressure cooker bombs exploded near the finish line of the Boston Marathon on April 15, 2013, at around 2:49 pm local time ( EDT ). The explosions killed three people and injured an estimated 264 others. The Federal Bureau of Investigation (FBI) later identified

744-494: A large population of grey seals . Since 2009, there has been a significant increase in the number of Great white sharks spotted and tagged in the coastal waters off of Cape Cod . Freshwater fish species in Massachusetts include bass , carp , catfish , and trout , while saltwater species such as Atlantic cod , haddock , and American lobster populate offshore waters. Other marine species include Harbor seals ,

837-553: A leading international financial centre since the 19th century , acting as a centre of lending and investment around the world. English contract law was adopted widely for international finance , with legal services provided in London. Financial institutions located there provided services internationally such as Lloyd's of London (founded 1686) for insurance and the Baltic Exchange (founded 1744) for shipping. During

930-538: A major financial centre in the 1980s as the Japanese economy became one of the largest in the world. Hong Kong and Singapore developed soon after leveraging their links with London and Britain. In the 21st century, other centres have grown including Toronto, Sydney, Seoul, Shanghai and Astana . Astana International Financial Centre has become the fastest growing financial hub in Central Asia. Dubai has become

1023-542: A path to decarbonize the state's economy. On April 22, 2020, Kathleen A. Theoharides, the state's Secretary of Energy and Environmental Affairs, released a Determination of Statewide Emissions limits for 2050. In her letter, Theoharides stresses that as of 2020, the Commonwealth has experienced property damage attributable to climate change of more than $ 60 billion. To ensure that the Commonwealth experiences warming no more than 1.5 °C of pre-industrialization levels,

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1116-436: A significant change to the state's built environment and ecosystems. In Boston alone, costs of climate change-related storms will result in $ 5 to $ 100 billion in damage. Warmer temperatures will also disrupt bird migration and flora blooming. With these changes, deer populations are expected to increase, resulting in a decrease in underbrush which smaller fauna use as camouflage. Additionally, rising temperatures will increase

1209-420: A wide range of financial services , for example relating to mergers and acquisitions , public offerings , or corporate actions ; or which participate in other areas of finance , such as private equity , hedge funds , and reinsurance . Ancillary financial services include rating agencies , as well as provision of related professional services , particularly legal advice and accounting services. As of

1302-1212: A working paper on OFCs, but which also proposed a taxonomy on classifying the various types of global financial centres, which they listed as follows (with the description and examples they noted as typical of each category, also noted): The IMF noted that the three categories were not mutually exclusive and that various locations could fall under the definition of an OFC and an RFC, in particular (e.g. Singapore and Hong Kong were cited). International Financial Centres, and many Regional Financial Centres, are full–service financial centres with direct access to large capital pools from banks, insurance companies, investment funds, and listed capital markets, and are major global cities . Offshore Financial Centres, and also some Regional Financial Centres, tend to specialise in tax-driven services, such as corporate tax planning tools , tax–neutral vehicles, and shadow banking / securitisation , and can include smaller locations (e.g. Luxembourg ), or city-states (e.g. Singapore). Since 2010, academics consider Offshore Financial Centres synonymous with tax havens . The IMF noted that OFCs could be set up for legitimate purposes (listing various reasons), but also for what

1395-462: Is Boston . Other major cities are Worcester , Springfield and Cambridge . Massachusetts is also home to the urban core of Greater Boston , the largest metropolitan area in New England and a region profoundly influential upon American history , academia , and the research economy . Massachusetts has a reputation for social and political progressivism ; becoming the only U.S. state with

1488-458: Is a diverse range of financial centres worldwide. While New York and London often stand out as the leading global financial centres, other established financial centres provide significant competition and several newer financial centres are developing. Despite this proliferation of financial centres, academics have discussed evidence showing increasing concentration of financial activity in the largest national and international financial centres in

1581-686: Is a location with a significant concentration of participants in banking asset management , insurance , and financial markets , with venues and supporting services for these activities to take place. Participants can include financial intermediaries (such as banks and brokers), institutional investors (such as investment managers, pension funds , insurers, and hedge funds ), and issuers (such as companies and governments). Trading activity can take place on venues such as exchanges and involve clearing houses , although many transactions take place over-the-counter (OTC), directly between participants. Financial centres usually host companies that offer

1674-474: Is its largest city. Despite its small size, Massachusetts features numerous topographically distinctive regions. The large coastal plain of the Atlantic Ocean in the eastern section of the state contains Greater Boston , along with most of the state's population, as well as the distinctive Cape Cod peninsula . To the west lies the hilly, rural region of Central Massachusetts , and beyond that,

1767-715: Is now known as Rhode Island , and Hutchinson joined him there several years later. Religious intolerance continued, and among those who objected to this later that century were the English Quaker preachers Alice and Thomas Curwen , who were publicly flogged and imprisoned in Boston in 1676. By 1641, Massachusetts had expanded inland significantly. The Commonwealth acquired the Connecticut River Valley settlement of Springfield , which had recently disputed with—and defected from—its original administrators,

1860-471: Is quite wet. Frosts are frequent all winter, even in coastal areas due to prevailing inland winds. Boston has a relatively sunny climate for a coastal city at its latitude, averaging over 2,600 hours of sunshine a year. Climate change in Massachusetts will affect both urban and rural environments, including forestry, fisheries, agriculture, and coastal development. The Northeast is projected to warm faster than global average temperatures; by 2035, according to

1953-723: Is the most populous state in New England, the 16th-most-populous in the country, and the third-most densely populated , after New Jersey and Rhode Island. Massachusetts was a site of early English colonization . The Plymouth Colony was founded in 1620 by the Pilgrims of the Mayflower . In 1630, the Massachusetts Bay Colony , taking its name from the Indigenous Massachusett people , also established settlements in Boston and Salem. In 1692,

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2046-641: The American Human Development Index and the standard Human Development Index , first in per capita income , and as of 2023, first in median income . Consequently, Massachusetts typically ranks as the top U.S. state, as well as the most expensive state, for residents to live in. The Massachusetts Bay Colony was named after the Indigenous population, the Massachusett or Muhsachuweesut , whose name likely derived from

2139-863: The Cape Cod National Seashore and the Boston Harbor Islands National Recreation Area . In addition, the Department of Conservation and Recreation maintains a number of parks , trails, and beaches throughout Massachusetts. The primary biome of inland Massachusetts is temperate deciduous forest . Although much of Massachusetts had been cleared for agriculture, leaving only traces of old-growth forest in isolated pockets, secondary growth has regenerated in many rural areas as farms have been abandoned. Forests cover around 62% of Massachusetts. The areas most affected by human development include

2232-668: The Commonwealth of Massachusetts , is a state in the New England region of the Northeastern United States . It borders the Atlantic Ocean and Gulf of Maine to its east, Connecticut and Rhode Island to its south, New Hampshire and Vermont to its north, and New York to its west. Massachusetts is the sixth-smallest state by land area . With over seven million residents as of 2020, it

2325-552: The Connecticut Colony . This established Massachusetts's southern border in the west. However, this became disputed territory until 1803–04 due to surveying problems, leading to the modern Southwick Jog . In 1652 the Massachusetts General Court authorized Boston silversmith John Hull to produce local coinage in shilling, sixpence and threepence denominations to address a coin shortage in

2418-639: The Connecticut River Valley . Along the western border of Western Massachusetts lies the highest elevated part of the state, the Berkshires , forming a portion of the northern terminus of the Appalachian Mountains . The U.S. National Park Service administers a number of natural and historical sites in Massachusetts . Along with twelve national historic sites, areas, and corridors, the National Park Service also manages

2511-890: The Global Financial Centres Index and the Xinhua–Dow Jones International Financial Centres Development Index . The Global Financial Centres Index ("GFCI") is compiled semi-annually by the London -based think tank Z/Yen in conjunction with the Shenzhen -based think tank China Development Institute . The 36th edition of the GFCI was published in September 2024. Old finance centres such as Amsterdam, London, Paris, and New York have long histories . Today there

2604-584: The Italian city-states (such as Venice and Genoa ) of the late medieval and early Renaissance periods while Florence can be said to be the birthplace of double-entry bookkeeping from the publication and proliferation of the work of Luca Pacioli . In the sixteenth century, the overall economic supremacy of the Italian city-states gradually waned, and the centre of financial activities in Europe shifted to

2697-464: The Low Countries , first to Bruges , and later to Antwerp and Amsterdam which acted as Entrepôt cities. They also became important centres of financial innovation, capital accumulation and investment. By the early 1800s, London officially replaced Amsterdam as the world's leading financial centre. London and Paris were the world's only prominent financial centres throughout most of

2790-473: The Massachusetts Bay Colony —now known as Boston—in 1630. The Puritans believed the Church of England needed to be further reformed along Protestant Calvinist lines, and experienced harassment due to the religious policies of King Charles I and high-ranking churchmen such as William Laud , who would become Charles's Archbishop of Canterbury , whom they feared were re-introducing "Romish" elements to

2883-492: The common loon are becoming rare. A significant population of long-tailed ducks winter off Nantucket . Small offshore islands and beaches are home to roseate terns and are important breeding areas for the locally threatened piping plover . Protected areas such as the Monomoy National Wildlife Refuge provide critical breeding habitat for shorebirds and a variety of marine wildlife including

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2976-496: The monarchy the former colonies were fighting against during the American Revolutionary War . The name "State of Massachusetts Bay" appeared in the first draft, which was ultimately rejected. It was also chosen to include the "Cape Islands" in reference to Martha's Vineyard and Nantucket —from 1780 to 1844, they were seen as additional and separate entities confined within the Commonwealth. Massachusetts

3069-403: The steam engine to power factories. Canals and railroads were being used in the state for transporting raw materials and finished goods. At first, the new industries drew labor from Yankees on nearby subsistence farms, though they later relied upon immigrant labor from Europe and Canada. Although Massachusetts was the first slave-holding colony with slavery dating back to the early 1600s,

3162-554: The "Atlas of Independence", was highly involved in both separation from Britain and the Constitution of Massachusetts , which effectively (the Elizabeth Freeman and Quock Walker cases as interpreted by William Cushing ) made Massachusetts the first state to abolish slavery. David McCullough points out that an equally important feature was its placing for the first time the courts as a co-equal branch separate from

3255-606: The 11th century in the Kingdom of England at the annual fair of St. Giles and in the Kingdom of Germany at the Frankfurt autumn fair, then developed in medieval France during the Champaign Fairs. The first real international financial centre was the city state of Venice which slowly emerged from the 9th century to its peak in the 14th century. Tradable bonds as a commonly used type of security, were invented by

3348-484: The 19th century, Massachusetts became a national leader in the American Industrial Revolution , with factories around cities such as Lowell and Boston producing textiles and shoes, and factories around Springfield producing tools, paper, and textiles. The state's economy transformed from one based primarily on agriculture to an industrial one, initially making use of water-power and later

3441-595: The 19th century. After 1870, Berlin and New York grew to become major financial centres mainly serving their national economies. An array of smaller international financial centres found market niches , such as Amsterdam, Brussels , Zurich , and Geneva . London was the leading international financial centre in the four decades before World War I . Since then, New York and London have developed leading positions in different activities and some non-Western financial centres have grown in prominence, notably Tokyo , Hong Kong , Singapore and Shanghai . London has been

3534-604: The 2024 edition of the Global Financial Centres Index , New York City , London and Hong Kong ranked top 3 globally, while other well known financial centres include Singapore , Shanghai , Frankfurt and Tokyo , amongst others. In April 2000, the Financial Stability Forum ("FSF"), concerned about OFCs on global financial stability produced a report listing 42 OFCs. In June 2000, the International Monetary Fund (IMF) published

3627-483: The 20th century London played an important role in the development of new financial products such as the Eurodollar and Eurobonds in the 1960s, international asset management and international equities trading in the 1980s, and derivatives in the 1990s. London continues to maintain a leading position as a financial centre in the 21st century, and maintains the largest trade surplus in financial services around

3720-477: The 21st century. Others have discussed the ongoing dominance of New York and London, and the role linkages between these two financial centres played in the financial crisis of 2007–08 . Comparisons of financial centres focus on their history, role and significance in serving national, regional and international financial activity. Each centre's offering includes differing legal, tax and regulatory environments. One journalist suggested three factors for success as

3813-462: The 48 states. After the world war, the economy of eastern Massachusetts transformed from one based on heavy industry into a service-based economy . Government contracts, private investment, and research facilities led to a new and improved industrial climate, with reduced unemployment and increased per capita income. Suburbanization flourished, and by the 1970s, the Route 128 / Interstate 95 corridor

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3906-549: The British Virgin Islands, and Bermuda, represent all the major OFCs. Some also appear as RFCs in various lists, particularly Hong Kong, and Singapore. They also appear on most lists of major tax havens , and on lists of the largest Conduit and Sink OFCs in the world. In some lists, RFCs such as Paris, Frankfurt, Chicago, and Shanghai appear as IFCs, however, they do not appear in all lists. They are certainly major RFCs. Primitive financial centres started in

3999-677: The British government, were a primary reason for the unity of the Thirteen Colonies and the outbreak of the American Revolution in 1775. The Battles of Lexington and Concord , fought in Massachusetts in 1775, initiated the American Revolutionary War . George Washington , later the first president of the future country, took over what would become the Continental Army after the battle. His first victory

4092-859: The British monarchy, including open rebellion under the Dominion of New England in the 1680s. Protests against British attempts to tax the colonies after the French and Indian War ended in 1763 led to the Boston Massacre in 1770, and the 1773 Boston Tea Party escalated tensions. In 1774, the Intolerable Acts targeted Massachusetts with punishments for the Boston Tea Party and further decreased local autonomy, increasing local dissent. Anti-Parliamentary activity by men such as Samuel Adams and John Hancock , followed by reprisals by

4185-636: The Civil War. Massachusetts was the first state to recruit, train, and arm a Black regiment with White officers, the 54th Massachusetts Infantry Regiment . In 1852, Massachusetts became the first state to pass compulsory education laws. Although the U.S. stock market had sustained steep losses the last week in October 1929, Tuesday, October 29 is remembered as the beginning of the Great Depression. The Boston Stock Exchange , drawn into

4278-517: The Colony of Georgia in 1735.) Later, Adams was active in early American foreign affairs and succeeded Washington as the second president of the United States . His son, John Quincy Adams , also from Massachusetts, would go on to become the nation's sixth president. From 1786 to 1787, an armed uprising led by Revolutionary War veteran Daniel Shays , now known as Shays' Rebellion , wrought havoc throughout Massachusetts and ultimately attempted to seize

4371-474: The Conduit OFC's extensive networks of global bilateral tax treaties . Because Sink OFCs are more closely associated with traditional tax havens, they tend to have more limited treaty networks and access to global higher–tax locations. Prior to the 1960s, there was little data available to rank financial centres. In recent years many rankings have been developed and published. Two of the most relevant are

4464-851: The Greater Boston area in the east and the Springfield metropolitan area in the west, although the latter includes agricultural areas throughout the Connecticut River Valley. There are 219 endangered species in Massachusetts. A number of species are doing well in the increasingly urbanized Massachusetts. Peregrine falcons utilize office towers in larger cities as nesting areas, and the population of coyotes , whose diet may include garbage and roadkill, has been increasing in recent decades. White-tailed deer , raccoons , wild turkeys , and eastern gray squirrels are also found throughout Massachusetts. In more rural areas in

4557-500: The IMF called dubious purposes , citing tax evasion and money–laundering. In 2007, the IMF produced the following definition of an OFC: a country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy . The FSF annual reports on global shadow banking use the IMF definition to track the OFCs with

4650-576: The Massachusetts Marijuana Legalization Initiative , also known as Question 4. Massachusetts is the seventh-smallest state in the United States . It is located in the New England region of the Northeastern United States . It has an area of 10,555 square miles (27,340 km ), 25.7% of which is water. Several large bays distinctly shape its coast, giving it the nickname "the Bay State". Boston

4743-521: The Northeast United States has risen by ten percent from 1895 to 2011, and the number of heavy precipitation events has increased by seventy percent during that time. These increased precipitation patterns are focused in the winter and spring. Increasing temperatures coupled with increasing precipitation will result in earlier snow melts and subsequent drier soil in the summer months. The shifting climate in Massachusetts will result in

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4836-540: The U. S. Global Change Research Program, the Northeast is "projected to be more than 3.6°F (2°C) warmer on average than during the preindustrial era". As of August 2016, the EPA reports that Massachusetts has warmed by over two degrees Fahrenheit, or 1.1 degrees Celsius. Shifting temperatures also result in the shifting of rainfall patterns and the intensification of precipitation events. To that end, average precipitation in

4929-517: The academic lists of tax havens include all the FSF–IMF OFCs). In July 2017, a study by the University of Amsterdam 's CORPNET group, broke down the definition of an OFC into two subgroups, Conduit and Sink OFCs : Sink OFCs rely on Conduit OFCs to re–route funds from high–tax locations using base erosion and profit shifting ("BEPS") tax planning tools, which are encoded, and accepted, in

5022-406: The broad transition zone to Humid Subtropical climates. The warm to hot summers render the oceanic climate rare in this transition, only applying to exposed coastal areas such as on the peninsula of Barnstable County . The climate of Boston is quite representative for the commonwealth, characterized by summer highs of around 81 °F (27 °C) and winter highs of 35 °F (2 °C), and

5115-546: The colony did not move to renew his contract or appoint a new mintmaster. The coinage was a contributing factor to the revocation of the Massachusetts Bay Colony charter in 1684. In 1691, the colonies of Massachusetts Bay and Plymouth were united (along with present-day Maine , which had previously been divided between Massachusetts and New York ) into the Province of Massachusetts Bay . Shortly after,

5208-509: The colony. Before that point, the colony's economy had been entirely dependent on barter and foreign currency, including English, Spanish, Dutch, Portuguese and counterfeit coins. In 1661, shortly after the restoration of the British monarchy , the British government considered the Boston mint to be treasonous. However, the colony ignored the English demands to cease operations until at least 1682, when Hull's contract as mintmaster expired, and

5301-631: The departure of several manufacturing companies, the state's industrial economy began to decline during the early 20th century. By the 1920s, competition from the American South and Midwest , followed by the Great Depression , led to the collapse of the three main industries in Massachusetts: textiles, shoemaking, and precision mechanics. This decline would continue into the latter half of the 20th century. Between 1950 and 1979,

5394-448: The early 1600s, European colonists caused virgin soil epidemics such as smallpox , measles , influenza , and perhaps leptospirosis in what is now known as the northeastern region of the United States. Between 1617 and 1619, a disease that was most likely smallpox killed approximately 90% of the Massachusetts Bay Native Americans . The first English colonists in Massachusetts Bay Colony landed with Richard Vines and spent

5487-402: The endangered North Atlantic right whales , as well as humpback whales , fin whales , minke whales , and Atlantic white-sided dolphins . The European corn borer , a significant agricultural pest, was first found in North America near Boston, Massachusetts in 1917. Most of Massachusetts has a humid continental climate , with cold winters and warm summers. Far southeast coastal areas are

5580-449: The exclusion of same-sex couples from the right to a civil marriage was unconstitutional. In 2004, Massachusetts senator John Kerry , who won the Democratic nomination for President of the United States, lost to incumbent George W. Bush . Eight years later, former Massachusetts governor Mitt Romney (the Republican nominee) lost to incumbent Barack Obama in 2012. Another eight years later, Massachusetts senator Elizabeth Warren became

5673-414: The executive. (The Constitution of Vermont , adopted in 1777, represented the first partial ban on slavery among the states. Vermont became a state in 1791 but did not fully ban slavery until 1858 with the Vermont Personal Liberty Law. The Pennsylvania Gradual Abolition Act of 1780 made Pennsylvania the first state to abolish slavery by statute - the second English colony to do so; the first having been

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5766-435: The federal Springfield Armory . The rebellion was one of the major factors in the decision to draft a stronger national constitution to replace the Articles of Confederation . On February 6, 1788, Massachusetts became the sixth state to ratify the United States Constitution . In 1820, Maine separated from Massachusetts and entered the Union as the 23rd state due to the ratification of the Missouri Compromise . During

5859-416: The focus of new worldwide growth. One source described New York as extending its lead as the world's centre of finance in September 2018; according to Reuters , the think-tank New Financial concluded the "raw" value of domestic and international financial activity like managing assets and issuing equity underscored the position of New York as the world's leading financial centre. New York City remains

5952-536: The largest centre for trading in public equity and debt capital markets , driven in part by the size and financial development of the U.S. economy . The NYSE and NASDAQ are the two largest stock exchanges in the world. New York also leads in hedge fund management; private equity ; and the monetary volume of mergers and acquisitions . Several investment banks and investment managers headquartered in New York City are important participants in other financial centres. The New York Federal Reserve Bank ,

6045-419: The largest financial centres relative to their domestic economies. Progress from 2000 onwards from IMF – OECD – FATF initiatives on common standards, regulatory compliance , and banking transparency, has reduced the regulatory attraction of OFCs over IFCs and RFCs. Since 2010, academics considered the services of OFCs to be synonymous with tax havens , and use the term OFC and tax haven interchangeably (e.g.

6138-417: The largest within the Federal Reserve System , regulates financial institutions and implements U.S. monetary policy , which in turn influences the world's economy. The three major global credit rating agencies – Standard and Poor's , Moody's Ratings , and Fitch Ratings – are headquartered or co–headquartered in New York City, with Fitch being co–headquartered in London. In Asia , Tokyo emerged as

6231-415: The most or among the most highly regarded academic institutions in the world. Massachusetts's public-school students place among the top tier in the world in academic performance. Massachusetts is the most educated and one of the most highly developed and wealthiest U.S. states, ranking first in the percentage of population 25 and over with either a bachelor's degree or advanced degree , first on both

6324-415: The name of the Moswetuset Hummock (meaning "hill shaped like an arrowhead") in Quincy , where Plymouth Colony commander Myles Standish (a hired English military officer) and Squanto (a member of the Patuxet band of the Wamponoag people , who have since died off due to contagious diseases brought by colonists) met Chief Chickatawbut in 1621. Although the designation "Commonwealth" forms part of

6417-568: The national church. They decided to colonize to Massachusetts, intending to establish what they considered an "ideal" religious society. The Massachusetts Bay Colony was colonized under a royal charter, unlike the Plymouth colony, in 1629. Both religious dissent and expansionism resulted in several new colonies being founded, shortly after Plymouth and Massachusetts Bay, elsewhere in New England. The Massachusetts Bay banished dissenters such as Anne Hutchinson and Roger Williams due to religious and political conflict. In 1636, Williams colonized what

6510-469: The new province's first governor, William Phips , arrived. The Salem witch trials also took place, where a number of men and women were hanged for alleged witchcraft . The most destructive earthquake known to date in New England occurred on November 18, 1755, causing considerable damage across Massachusetts. Massachusetts was a center of the movement for independence from Great Britain . Colonists in Massachusetts had long had uneasy relations with

6603-456: The number of Massachusetts residents involved in textile manufacturing declined from 264,000 to 63,000. The 1969 closure of the Springfield Armory , in particular, spurred an exodus of high-paying jobs from Western Massachusetts, which suffered greatly as it de-industrialized during the century's last 40 years. Massachusetts manufactured 3.4 percent of total United States military armaments produced during World War II , ranking tenth among

6696-568: The number of reported Lyme disease cases in the state. Ticks can transmit the disease once temperatures reach 45 degrees, so shorter winters will increase the window of transmission. These warmer temperatures will also increase the prevalence of Asian tiger mosquitoes , which often carry the West Nile virus . To fight this change, the Massachusetts Executive Office of Energy and Environmental Affairs has outlined

6789-466: The re-routing of several other major highways. The project was often controversial, with numerous claims of graft and mismanagement, and with its initial price tag of $ 2.5   billion increasing to a final tally of over $ 15   billion. Nonetheless, the Big Dig changed the face of Downtown Boston and connected areas that were once divided by elevated highway. Much of the raised old Central Artery

6882-551: The rise of "partner OFCs" (offshore tax-havens to which funds are routed), such as Taiwan (a major Sink OFC for Asia, and 7th largest global Sink OFC), Mauritius (a major Sink OFC for South Asia, especially India, and Africa, and the 9th largest global Sink OFC). The private nationwide financial system in China was first developed by the Shanxi merchants , with the creation of so-called "draft banks". The first draft bank Rishengchang

6975-829: The second largest concentration of hedge funds (847 according to HedgeLists.com). London benefits from its position between the Asia and U.S. time zones, and benefited from its location within the European Union , although this ended on 31 January 2020 when the United Kingdom left the European Union following the Brexit referendum of 2016. As well as the London Stock Exchange , the Bank of England ,

7068-679: The second oldest central bank, is in London, although the European Banking Authority moved to Paris after Brexit. Since the middle of the 20th century, New York City, represented by Wall Street in Manhattan's Financial District , has been described as a leading financial centre. Over the past few decades, with the rise of a multipolar world with new regional powers and global capitalism , numerous financial centres have challenged Wall Street, particularly London and several in Asia, which some analysts believe will be

7161-488: The state became a center of progressivist and abolitionist (anti-slavery) activity in the years leading up to the American Civil War . Horace Mann made the state's school system a national model. Henry David Thoreau and Ralph Waldo Emerson , both philosophers and writers from the state, also made major contributions to American philosophy. Furthermore, members of the transcendentalist movement within

7254-616: The state emphasized the importance of the natural world and emotion to humanity. Although significant opposition to abolitionism existed early on in Massachusetts, resulting in anti-abolitionist riots between 1835 and 1837, abolitionist views there gradually increased throughout the next few decades. Abolitionists John Brown and Sojourner Truth lived in Springfield and Northampton, respectively, while Frederick Douglass lived in Boston and Susan B. Anthony in Adams . The works of such abolitionists contributed to Massachusetts's actions during

7347-957: The state will work towards two goals by 2050: to achieve net-zero emissions , and to reduce greenhouse gas emissions by 85 percent overall. The State of Massachusetts has developed a plethora of incentives to encourage the implementation of renewable energy and efficient appliances and home facilities. The Mass Save program, formed in conjunction with the State by several companies that provide power and gas in Massachusetts, provides homeowners and renters with monetary incentives to retrofit their homes with efficient HVAC equipment and other household appliances. Appliances such as water heaters, air conditioners, washers and driers, and heat pumps are eligible for rebates in order to incentivize change. Financial center A financial centre ( financial center in American English ) or financial hub

7440-416: The state's official name, it has no practical implications in modern times, and Massachusetts has the same position and powers within the United States as other states. John Adams may have chosen the word in 1779 for the second draft of what became the 1780 Massachusetts Constitution ; unlike the word "state", the word " commonwealth " had the connotation of a republic at the time. This was in contrast to

7533-509: The suspects as brothers Dzhokhar Tsarnaev and Tamerlan Tsarnaev . The ensuing manhunt ended on April 19 when thousands of law enforcement officers searched a 20-block area of nearby Watertown . Dzhokhar later said he was motivated by extremist Islamic beliefs and learned to build explosive devices from Inspire , the online magazine of al-Qaeda in the Arabian Peninsula . On November 8, 2016, Massachusetts voted in favor of

7626-669: The town of Salem and surrounding areas experienced one of America's most infamous cases of mass hysteria , the Salem witch trials . In the late 18th century, Boston became known as the "Cradle of Liberty" for the agitation there that later led to the American Revolution . In 1786, Shays' Rebellion , a populist revolt led by disaffected American Revolutionary War veterans, influenced the United States Constitutional Convention . Originally dependent on agriculture , fishing , and trade , Massachusetts

7719-475: The western part of Massachusetts, larger mammals such as moose and black bears have returned, largely due to reforestation following the regional decline in agriculture. Massachusetts is located along the Atlantic Flyway , a major route for migratory waterfowl along the eastern coast. Lakes in central Massachusetts provide habitat for many species of fish and waterfowl, but some species such as

7812-625: The whirlpool of panic selling that beset the New York Stock Exchange, lost over 25 percent of its value in two days of frenzied trading. The BSE, nearly 100 years old at the time, had helped raise the capital that had funded many of the Commonwealth's factories, railroads, and businesses. " Governor of Massachusetts Frank G. Allen appointed John C. Hull the first Securities Director of Massachusetts. Hull would assume office in January 1930, and his term would end in 1936. With

7905-653: The winter in Biddeford Pool near Cape Porpoise (after 1820 the State of Maine) in 1616. The Puritans , arrived at Plymouth in 1620. This was the second permanent English colony in the part of North America that later became the United States, after the Jamestown Colony . The "First Thanksgiving" was celebrated by the Puritans after their first harvest in the " New World " and lasted for three days. They were soon followed by other Puritans, who colonized

7998-475: The world. However, like New York, it faces new competitors including fast-rising eastern financial centres such as Hong Kong and Shanghai. London is the largest centre for derivatives markets , foreign exchange markets , money markets , issuance of international debt securities , international insurance , trading in gold, silver and base metals through the London bullion market and London Metal Exchange , and international bank lending . London has

8091-592: Was created in 1823 in Pingyao . Some large draft banks had branches in Russia, Mongolia and Japan to facilitate the international trade. Throughout the nineteenth century, the central Shanxi region became the de facto financial centres of Qing China. With the fall of Qing Dynasty, the financial centres gradually shifted to Shanghai , mainly due to its geographical location at the estuary of the Yangtze River and to

8184-642: Was dotted with high-tech companies who recruited graduates of the area's many elite institutions of higher education. In 1987, the state received federal funding for the Central Artery/Tunnel Project. Commonly known as "the Big Dig ", it was, at the time, the biggest federal highway project ever approved. The project included making the Central Artery , part of Interstate 93 , into a tunnel under downtown Boston, in addition to

8277-545: Was originally inhabited by tribes of the Algonquian language family , including Wampanoag , Narragansett , Nipmuc , Pocomtuc , Mahican , and Massachusett . While cultivation of crops like squash and corn were an important part of their diet, the people of these tribes hunted , fished , and searched the forest for most of their food. Villagers lived in lodges called wigwams as well as longhouses . Tribes were led by male or female elders known as sachems . In

8370-556: Was replaced with the Rose Fitzgerald Kennedy Greenway . The project also improved traffic conditions along several routes. The Kennedy family was prominent in 20th-century Massachusetts politics. The children of businessman and ambassador Joseph P. Kennedy Sr. included John F. Kennedy , who was a senator and U.S. president before his assassination in 1963; Ted Kennedy , a senator from 1962 until his death in 2009; and Eunice Kennedy Shriver ,

8463-706: Was the siege of Boston in the winter of 1775–76, after which the British were forced to evacuate the city. The event is still celebrated in Suffolk County only every March 17 as Evacuation Day . On the coast, Salem became a center for privateering . Although the documentation is incomplete, about 1,700 letters of marque , issued on a per-voyage basis, were granted during the American Revolution. Nearly 800 vessels were commissioned as privateers, which were credited with capturing or destroying about 600 British ships. Bostonian John Adams , known as

8556-720: Was the only Republican to serve as Speaker between 1931 and 1995), John W. McCormack , Speaker of the House in the 1960s, and Tip O'Neill , whose service as Speaker of the House from 1977 to 1987 was the longest continuous tenure in United States history. On May 17, 2004, Massachusetts became the first state in the U.S. to legalize same-sex marriage . This followed the Massachusetts Supreme Judicial Court 's decision in Goodridge v. Department of Public Health in November 2003, which determined that

8649-674: Was transformed into a manufacturing center during the Industrial Revolution . Before the American Civil War , the state was a center for the abolitionist , temperance , and transcendentalist movements. During the 20th century, the state's economy shifted from manufacturing to services ; and in the 21st century, Massachusetts has become the global leader in biotechnology , and also excels in artificial intelligence , engineering , higher education , finance , and maritime trade . The state's capital and most populous city , as well as its cultural and financial center ,

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