Pioneer Valley - Economy

Economy

The Pioneer Valley has a broad and varied economic base, featuring more than 16 universities and liberal arts colleges, (many of which are considered among the United States' best, e.g. Amherst College); numerous hospitals and healthcare organizations, (e.g. Baystate Health, Massachusetts' third largest employer) and numerous financial service organizations, (e.g. the Fortune 100 MassMutual.) Manufacturing remains a part of the Pioneer Valley's economy (e.g. Smith & Wesson), although its manufacturing base has dwindled since 1968, when the Springfield Armory was controversially shut-down. The Pioneer Valley is considered to have a "mature economy", which means that its economic base is sufficiently varied so as not to be completely dependent on market fluctuations, like many places in the United States. This was illustrated during the Great Recession, when Springfield, Massachusetts and the Pioneer Valley performed within the Top 10 of all U.S. regional economies. Of all

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