Area Development
Economic Development Incentive Program:
The Economic Development Incentive Program (EDIP) is a tax incentive program designed to foster full-time job creation and stimulate business growth throughout the Commonwealth. Participating companies may receive state and local tax incentives in exchange for full-time job creation, manufacturing job retention, and private investment commitments. There are three categories of projects for companies that generate substantial sales outside of the Commonwealth and are seeking the EDIP Investment Tax Credit (ITC): full-time job creation and investment projects within Economic Target Areas, projects with exceptional employment growth across the Commonwealth and finally, projects within gateway communities that sustain and grow manufacturing jobs. Additionally municipalities have the ability to grant local real estate tax incentive applications for projects that do not seek an EDIP-ITC.

{{RELATEDLINKS}} State tax incentives:

Municipal property tax incentives:

Investment tax credit:
A 3 percent investment tax credit is available to any manufacturer or research and development company located in the state. The credit applies to buildings, structural components, and depreciable property.

Research and development tax credit:
Massachusetts has increased its R&D tax credit to make it one of the highest in the nation, with permanent 10 percent and 15 percent credits with a 15-year or indefinite carry-forward provision. It is available to companies investing in research and development.

Credits against excise:
Domestic and foreign corporations are allowed a credit against excise equal to 30 percent of the cost incurred for the purchase or lease of company shuttle vans. Costs of solar or wind-powered devices may be deducted from net income in determining the excise tax. These facilities are exempt from property taxation for 10 years.

Tax-exempt and taxable bond financing:
For the purchase of land, buildings, and new equipment; to construct or renovate existing buildings; and to refinance existing asset-based, conventional, or tax-exempt debt.

Capital Access Program:
Encourages participating Massachusetts financial institutions to make loans of up to $500,000 to businesses unable to obtain financing through conventional means.

Emerging Technology Fund:
Provides financial participation in a loan or a co-lending agreement with another lending institution for the financing of technology-based companies.

Brownfields Redevelopment Program:
Finances the remediation of a contaminated site that is being redeveloped into an economically viable project. Provides state-subsidized environmental insurance and secured creditor insurance for Brownfields projects.

Seafood Loan Program:
Provides direct loans for fixed-asset financing, including the purchase of land, buildings, and equipment and the construction of facilities related to the seafood industry.

Massachusetts Opportunity Relocation & Expansion (MORE) Jobs Program:
Provides grant funding to help finance the public infrastructure associated with business development projects. Grants must be used for infrastructure improvements, such as water and sewer connections, roadway enhancements, and utility upgrades. Businesses and municipalities must submit joint applications to the state to participate in the program.

Training Grants:
Workforce Training Fund General Program:
Provides companies with training grants that range from $5,000 to $250,000 for programs that train current employees, allowing a company to maintain its economic strength.

Hiring Incentive Training Grant:
The Hiring Incentive Training Grant Program is open to all employers. It provides training grants of up to $5,000 per employee and up to $30,000 a year per company. This program assists in paying training costs for newly hired employees who have been unemployed over a year and that do not have a call-back date from their last employer.

Expedited Permitting Program:
Recently new streamlined permitting legislation was enacted:

Massachusetts State Contact:
Massachusetts Office of Business Development
10 Park Plaza, Suite 3730
Boston, MA 02116
1-877-BIZTEAM (249-8326)
Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings. This information was last updated November 2014.