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Home-grown firms key to growth, study says

Massachusetts should focus its economic policies on nurturing home-grown entrepreneurs and companies, rather than working to entice out-of-state firms to relocate here, a study concludes.

The study, from the Pioneer Institute, a conservative think tank, found job growth in Massachusetts has stagnated over the past 18 years largely because the state’s economy has not created enough new companies. Moreover, the study found, Massachusetts start-ups are employing far fewer workers than in the past.

Between 1990 and 2002, each new firm created an average of seven jobs, according to the study. Over the past few years, the average has slipped to fewer than four jobs.

Full Story: http://www.boston.com/news/local/massachusetts/articles/2010/01/29/home_grown_firms_key_to_growth_study_says/

(Many thanks to the Lipper Current http://www.lippercurrent.com/dcn/lc.nsf/index.html for bringing this to our attention.)

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