This is not the official budget document.

Budget Summary FY2014

Department of Business Development
Data Current as of:  9/11/2013





FISCAL YEAR 2014 BUDGET SUMMARY ($000)
ACCOUNT FY2014
Conference
FY2014
Vetoes
FY2014
Overrides
FY2014
GAA
Regional Economic Development Grants 850 0 0 850
Massachusetts Office of Business Development 1,691 0 0 1,691
For Massachusetts Biotechnology Research 250 0 0 250
Small Business Development Center at UMass 1,204 0 0 1,204
Microlending 200 0 0 200
Commonwealth Zoological Corporation 3,700 0 0 3,700
For the Massachusetts Technology 200 0 0 200
Small Business Association Layoff Aversion Grant Program 250 0 0 250
TOTAL    8,345 0 0 8,345 0  

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account description amount
DEPARTMENT OF BUSINESS DEVELOPMENT 8,345,448
 
7007-0150 Regional Economic Development Grants
For the Massachusetts office of business development for contracts with regional economic development organizations under the program established in sections 3J and 3K of chapter 23A of the General Laws
                General Fund ............... 75.00%
                Manufacturing Fund ............... 25.00%
850,000
7007-0300 Massachusetts Office of Business Development
For the operation of the Massachusetts office of business development and for marketing and promoting the commonwealth in order to attract and retain targeted businesses and industries
1,691,162
7007-0500 For Massachusetts Biotechnology Research
For the operation and maintenance of the Massachusetts Biotechnology Research Institute for the commercialization of new, academic-based research and development and raising the scientific awareness of the communities of the commonwealth
250,000
7007-0800 Small Business Development Center at UMass
For a state matching grant for the small business development center; provided, that no funds shall be expended from this item until such time as the United States Small Business Administration has made a payment or has executed a contract to pay the University of Massachusetts at Amherst for the operation of the center; provided further, that the funds expended from this item shall not exceed 25 per cent of the gross operating cost of said center; provided further, that not more than $300,000 from this item shall be expended for federal procurement technical assistance services within said center; provided further, that the services shall include, but not be limited to, assisting businesses in securing federal contracts, obtaining contract financing, generating responses to requests-for-proposals, interpreting bid documents, providing educational workshops and for the electronic identification and tracking of federal bid opportunities; and provided further, that funds expended for federal procurement technical assistance services within said center shall be subject to the receipt of matching funds from federal or private sources, including the United States Department of Defense
1,204,286
7007-0801 Microlending
For microlending grants of up to $100,000 to be issued to established Community Development Financial Institutions and Community Advantage Lenders making direct microenterprise and small business loans to borrowers on a regional basis, as well as providing technical assistance to applicants and borrowers in order to foster business establishment and success; provided that the funds shall be used to support eligible organization's lending and technical assistance activities
200,000
7007-0952 Commonwealth Zoological Corporation
For the operation of the Commonwealth Zoological Corporation, established under chapter 92B of the General Laws; provided, that funds appropriated in this item shall be expended for the purposes of promoting private fundraising, achieving self-sufficiency and serving as a catalyst for urban economic development and job opportunities for local residents; provided further, that the corporation shall take all steps necessary to increase the amount of private funding available for the operation of the zoos; provided further, that funding in this item shall not be transferred through interdepartmental service agreements; provided further, that the corporation shall report to the house and senate committees on ways and means not later than February 3, 2014, on the status of, and amounts collected from, the private fundraising and enhanced revenue efforts identified in the draft Massachusetts zoos business and operations plan dated December 1996; provided further, that funds may be expended on a matching program to encourage private and corporate donations to support the Franklin Park Zoo and Stone Zoo; provided further, that not less than $200,000 shall be expended for a competitive grant program for zoos not operated by the Commonwealth Zoological Corporation; and provided further, that in awarding the grants, the Massachusetts office of business development shall ensure that all zoos that received funding in fiscal year 2013 receive funding in fiscal year 2014 and shall award said grants to zoos in equal amounts to all grant recipients
                Massachusetts Tourism Fund ............... 100%
3,700,000
7007-1200 For the Massachusetts Technology
For a program to create and maintain a more favorable and responsive environment for the attraction and retention of technology-intensive clusters for the commonwealth; provided, that such clusters may be characterized by technological or market focus, geographic proximity or other shared interests
200,000
7007-1641 Small Business Association Layoff Aversion Grant Program
For a grant to the Smaller Business Association of New England for the layoff aversion through management assistance program for consultant and technical assistance to manufacturing companies to prevent business closure and employee displacement; provided, that the expenditure of the layoff aversion through management program in this item shall leverage at least $1 in matching funds for every $1 granted under this item; provided further, that the president of the Smaller Business Association of New England shall file a quarterly report with the house and senate committees on ways and means, the joint committee on economic development and emerging technologies and the joint committee on labor and workforce development on the number of employees and manufacturing-based companies that have received financial assistance through this item, a detailed description of the services provided to manufacturing companies through the layoff aversion through management program and a detailed account of the expenditures of the layoff aversion through management program, including administrative costs
250,000

account description amount