April 10th Information & Resource Update | | |
In this issue...
- Economic Development Incentive Program (EDIP) Changes
- Community One Stop for Growth Grant Opportunities
- State Treasurer's Office Small Business Empowerment Series
- You're Invited: 495/MetroWest Partnership Annual State House Day
- Reminder: 495/MetroWest Employer Survey Now Open
- Interactive Map of EV Charging Stations in 495/MetroWest
- MassCEC No-Cost Decarbonization Assessment: Available to MassDevelopment Clients
- Office of the Inspector General: Informational Materials
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Economic Development Incentive Program (EDIP) Changes
The Economic Development Incentive Program (EDIP) is designed to foster the creation of full time jobs throughout the state by awarding tax credits to businesses committed to starting or growing in Massachusetts. The program directs awards to projects that leverage private investments to create jobs and generate new economic activity. Approved projects typically receive an award aligned with their job creation commitment and other factors.
A number of changes to the EDIP program have gone into effect as a result of the Mass Leads Act, major economic development legislation signed into law last Fall. The core of the EDIP program remains unchanged; companies receive state tax credits in exchange for investing capital in a project located in Massachusetts that will create or retain jobs. Key changes to the program include:
- The Mass Leads Act removed the requirement that the EACC approve local tax incentives such as Tax Increment Financing and Special Tax Assessment Agreements. Municipalities can enter into new agreements without EACC involvement. Municipalities must still submit a copy of any such agreement that is associated with an EDIP certified project. Municipalities are encouraged, but no longer required, to provide support for a project in the form of a municipal endorsement.
- Eligible businesses can now claim both EDIP tax credit and the 3% Manufacturers Investment Tax Credit.
- The EDIP application process has been reduced from two steps to a single application, with fewer questions.
- The limitation that companies could not claim tax credits worth more than 50% of their tax liability has been removed; companies may now claim credits worth 100% (or more) of their tax liability.
Click here to access a summary of these and other EDIP program changes, prepared by the Mass. Office of Business Development.
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Community One Stop for Growth Grant Opportunities
Open to municipalities and other public entities, the Community One Stop for Growth portal combines community focused economic development and housing grant programs into a single portal, streamlining the application process. Programs include funding for public infrastructure, cleaning up sites to prepare them for development, and revitalizing downtowns. Two programs are highlighted below. To learn more about Community One Stop for Growth or begin the application process, click here. Applications for this year's round will be due June 4th.
MassWorks Infrastructure Program: The MassWorks Infrastructure Program is the Commonwealth’s largest and most flexible source of public infrastructure funding. Open to all Massachusetts municipalities and public entities, the grant program supports infrastructure improvements to streetscapes and water/sewer systems, with the goal of accelerating housing production, private development, and job creation. Particular emphasis is placed on the production of multi-family housing units in walkable, mixed-use districts and underinvested areas.
Vacant Storefront Program: The Vacant Storefront Program assists municipalities in their efforts to revitalize their downtown and commercial areas by encouraging the occupancy of vacant storefronts. Municipalities with pre-approved Vacant Storefront Districts can access tax credits to incentivize businesses to occupy storefronts that have remained vacant for more than 6 months. The program aims to encourage local entrepreneurship and revitalization of underutilized spaces, and funding can support activities such as interior renovations, fit-outs, and signage installations.
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State Treasurer's Office Small Business Empowerment Series
The Massachusetts State Treasurer's Office, in collaboration with with Bay State Savings Bank, will be hosting two free small business webinars this spring as a part of their Small Business Empowerment Series.
The first session, "Mastering Financial Management," will be held on Wednesday, April 23rd from 9:00 AM to 10:15 AM. The second session, "Understanding Banking Services & Securing Financing," will be held on Wednesday, April 30th from 9:00 AM to 10:15 AM. Both webinars will be presented in English with live interpretation in Spanish and Portuguese. Click here to register.
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You're Invited: 495/MetroWest Partnership
Annual State House Day
The 495/MetroWest Partnership cordially invites you to attend our annual State House Day event on April 29th from 11:00 AM to 1:00 PM.
495/MetroWest State House Day
with Senate President Karen E. Spilka
and members of the 495/MetroWest Delegation
Tuesday, April 29th, 2025, 11:00 AM – 1:00 PM
at the Massachusetts State House
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This event is an annual opportunity created by the Partnership for our stakeholders to interact with members of our region’s legislative delegation, hear about their priorities, and ask questions or offer feedback relevant to your business, organization, or community.
Advance registration is required for this event; click here or the link above to register. Additional details including access and parking information will be provided to registrants during the week prior to the event.
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Reminder: 495/MetroWest Employer Survey Now Open
The 495/MetroWest Partnership invites business and organizational leaders from across our region to take part in our annual 495/MetroWest Employer Survey! This survey represents a collaborative effort between the 495/MetroWest Partnership and Framingham State University's MetroWest Economic Research Center (MERC). Over the past decade, this survey has proven an important tool in gauging business confidence in the 495/MetroWest region.
Now being conducted for the 12th year running, the survey is an opportunity for our region’s employers to communicate concerns and challenges, which can guide policymakers in considering needed changes and investments.
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Key survey details:
- Who should take the survey? Owners, leaders, or individuals with regional hiring authority for private/ nongovernmental organizations that have a presence in the 495/MetroWest region.
- This survey should only take about 5-7 minutes to complete.
- Your individual responses are anonymous; your answers will be aggregated and reported with all responses.
Click here to access the survey.
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MassCEC No-Cost Decarbonization Assessment:
Available to MassDevelopment Clients
The Massachusetts Clean Energy Center (MassCEC) is offering a limited number of MassDevelopment clients a no-cost decarbonization assessment that will help with informed decision-making regarding clean, sustainable business growth.
Known as the Building Electrification and Transformation Accelerator (BETA) project, this pilot initiative will support the electrification and decarbonization of commercial buildings (including multi-family buildings with 15 or more units) by working with property owners to reach a net-zero emissions target that align with capital planning considerations. Click here to apply.
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Office of the Inspector General: Informational Materials
As part of the Massachusetts Office of the Inspector General’s (OIG) ongoing effort to conduct outreach with public officials, state and municipal officials and employees, and other stakeholders, the OIG would like to highlight a number of materials available to stakeholders that outline the breadth and impact of the office's work.
The Office of the Inspector General publishes an annual report, which summarizes the activities, accomplishments, and goals related to detecting and preventing fraud, waste, and abuse of public assets. Items in the report include a general overview of the office’s role, results of key investigations, a breakdown of the work done by the OGI’s different divisions, and future objectives. Click here to access the most recent annual report.
Additionally, at the completion of an investigation, review or other project, the Office of the Inspector General may issue a public letter or report detailing the results of their investigation and recommend corrective action plan for the offending party. Click here to access the Letters, Reports and Advisories released by the OGI in 2025.
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As always, please do not hesitate to reach out if the 495/MetroWest Partnership can be of any assistance to you:
Jason Palitsch, Executive Director
(774) 760-0495
Jason@495Partnership.org
Thank you for your continued commitment to strengthening our region.
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