The Economic Development Incentive Program (EDIP) is a three-way partnership between a company, the local community and the state government to foster job creation and stimulate business growth throughout the Commonwealth. In 2009, Governor Patrick and Secretary Bialecki, along with the Legislature, reformed the program and as a result, the EDIP has become one of the most effective programs helping businesses grow in Massachusetts.
Since the EDIP reforms became effective in January 2010, 197 projects have received approval, including 106 manufacturers and 91 projects in Gateway Cities leading to the forecasted:
- Creation of 13,983 new full-time jobs;
- Retention of 40,451 existing full-time jobs;
- Private investment of over $5.4 billion.
For examples of companies that have utilized the EDIP to expand their operations in Massachusetts, please visit our Massachusetts Means Business site. Additionally, for the most recent program annual report please see the Economic Development Incentive Program FY 2013 Annual Report and for information on project specific job retention and creation progress please reference the EDIP CY 2012 Job Retention and Creation Report.