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Economic Recovery Increased The Number Of Millionaires In Massachusetts

Money

As the Massachusetts economy recovered  from the Great  Recession the number of millionaires in the state jumped 25 percent.  WAMC’s Paul Tuthill reports.

   Nearly 12,000 households in Massachusetts reported more than $1million in adjusted gross income in 2010. That’s up about 25 percent from the year before, according to an analysis of state tax data by the Boston Business Journal.  The average reported income of seven figure tax filers was $3.5 million in 2010, up from $3 million the  prior year.   Boston had the highest number of millionaires with 1,330. The Boston suburb of Weston , with 400  millionaire households and a population of 11, 260 ranked first on a per capita basis.  In western Massachusetts Longmeadow  had the most millionaire filers with 75, while the  top per capita  rank belonged to Alford.

The record-setting tenure of Springfield Mayor Domenic Sarno. The 2011 tornado and its recovery that remade the largest city in Western Massachusetts. The fallout from the deadly COVID outbreak at the Holyoke Soldiers Home. Those are just a few of the thousands and thousands of stories WAMC’s Pioneer Valley Bureau Chief Paul Tuthill has covered for WAMC in his nearly 17 years with the station.