Our economic future is tied to innovation, freedom – CommonWealth Beacon

THE BOSTON TEA PARTY is one of the most iconic moments in our history that served as the catalyst for the American Revolution. I recently watched it come back to life while listening to Sam Adams, Paul Revere, John Hancock, and others debating British rule and whether the colony should tolerate taxation without representation. The audience emphatically agreed with them in saying a resounding “Nay!” This reenactment of the 250th anniversary of the tea party reminds us how our nation’s very story started right here in Massachusetts – and how that visionary and revolutionary attitude remains in our culture today. That’s because Massachusetts has always been a state of firsts: the first public school, park, and library. We are home to the world’s oldest functioning written constitution. And we were the first state to make healthcare universal, to lead the global rollout of COVID-19 testing and vaccine development, and to declare that love is love. Massachusetts is where ideas are formed, and legacies are made. It’s where our values are one of our greatest strengths. And it’s why we must continue to lead. Fortunately, we already have all the ingredients here, just as we did 250 years ago. Especially when it comes to our people. The state’s K-12 public schools are among the strongest in the nation and we have the most educated workforce. Each year, nearly 500,000 college and graduate students are drawn here from around the world. We have engaged residents across our 351 cities and towns, dedicated nonprofits, world-class research institutions, and vibrant companies large and small. We have leaders who put people over partisanship to ensure that Massachusetts continues moving forward. This combination of pro-innovation and pro-community values is the way to lead in these modern times. And that’s what anchors the Healey-Driscoll administration’s new state economic development plan called Team Massachusetts: Leading Future Generations . In this plan, we propose several new initiatives to grow an economy that will propel this region forward in a way that lifts everyone up, supports our businesses, and attracts the world’s best talent. This includes investing in fundamentals such as more affordable housing and more efficient transportation, ensuring that people of all backgrounds can have opportunities, and lengthening our lead in sectors that fuel our economic prosperity – including life sciences, healthcare, financial services, and advanced manufacturing. This bold strategy is the result of conversations with more than 1,300 stakeholders, industry leaders, elected officials, and members of the public who helped craft this vision.   There are two simple components to our approach. We will continue to innovate and create a strong, high-growth economy built by companies that solve hard, important problems around curing disease, fighting climate change, educating our youth, defending our country, and leveraging technology in smart ways; and we will continue to champion freedoms and create caring, inclusive communities that enable families to live their best lives and benefit from high quality education, health care, culture and arts, and sports. These strengths are already reflected in our successes. Massachusetts is the highest recipient of NIH grants and venture funding on a per capita basis. We are the global hub for life sciences, with 18 of the top 20 biotech firms based here. The federal government just designated Massachusetts as one of the three ARPA-H hubs for President Biden’s mission to pursue medical breakthroughs with significant societal impact. We have also won several CHIPS and Science Act grants to advance technologies in areas such as AI, quantum, robotics, and the blue economy. At the same time, we know we have more work to do. Massachusetts has the highest per capita income, yet we know that inequalities persist. While we have pioneered the discovery of groundbreaking science and medical cures, we still have large health equity gaps. And although we can be incredibly proud that we are one of only three states to have elected a Black governor, we elected Boston’s first woman and Asian American mayor, and we were the first state to elect the nation’s first openly lesbian governor, we know we still have so much more to do to support our underrepresented communities. In Massachusetts we are working every day to build a better future. Together, we will build a new revolution that invests in innovation and economic growth, while celebrating fundamental freedoms and strong, inclusive communities. The Boston Tea Party may have been centuries ago, but Massachusetts never lost that spirit. Let’s work together and lead for the next 250 years. Yvonne Hao is the secretary of the Executive Office of Economic Development in the Healey-Driscoll administration.