Economic Development Incentive Program
Led by the Executive Office of Housing and Economic Development, the Economic Development Incentive Program (EDIP) awards tax incentives to businesses to foster job creation and stimulate business growth throughout the Commonwealth. In 2009 Governor Patrick and Housing and Economic Development Secretary Greg Bialecki, in partnership with the Massachusetts Legislature, reformed the program to enhance project oversight and impact; EDIP has since become one of the most effective programs in helping businesses grow in Massachusetts.
Reports on Economic Development Incentive Program:
2012 EDIP Annual Report --EDIP FY 2012 Annual Report file size 4MB
Information on Recent Project Approvals:
- December 2013 -- Patrick Administration Approves Economic Development Projects That Will Create and Retain 2,911 Jobs in Communities Across The Commonwealth
- June 2013 -- Patrick Administration Approves Economic Development Projects That Will Create and Retain 5,449 Jobs in Communities Across The Commonwealth
- March 2013 -- Patrick-Murray Administration Approves Economic Development Projects That Will Create and Retain 7,144 Jobs
- December 2012 -- Patrick-Murray Administration Approves Economic Development Projects that will Create and Retain 5,440 Jobs in Communities Across the Commonwealth
- September 2012 -- Patrick-Murray Administration Approves Economic Development Projects that will Create and Retain 727 Jobs in Communities Across the Commonwealth
- June 2012 -- Patrick-Murray Administration Approves Economic Development Projects that will Create and Retain 6,915 Jobs in Communities Across the Commonwealth
Massachusetts Film Industry Tax Incentive Program
The Massachusetts film industry tax incentive program encourages film and television production in the Commonwealth by issuing tax credits and sales tax exemptions in connection with employing Massachusetts residents and meeting spending requirements paid to Massachusetts businesses and residents. Each year since 2008, the Department of Revenue releases a public report estimating the economic impact of the Commonwealth’s film tax incentive program. Beginning in 2012, the Department of Revenue also provides a detailed list of approved film tax credits awarded each year in its annual Tax Credit Transparency Report.
Reports on the Film Industry Tax Incentive Program:
Life Sciences Tax Incentive Program
The primary goal of the Life Sciences Tax Incentive Program is to incentivize companies engaged in life sciences research and development, commercialization, and manufacturing to create new long-term jobs in the Commonwealth. The program offers competitively awarded tax incentives to companies that meet specified hiring goals, including the Life Sciences Investment Tax and Research Credits. The Life Sciences Tax Incentive Program is jointly administered by the Massachusetts Life Sciences Center and the Department of Revenue.
Reports on the Life Sciences Tax Incentive Program:
Massachusetts Life Sciences Center FY2013 Annual Report - (see tax incentive program information on page 19)
Massachusetts Investment Tax Credit
The Massachusetts Investment Tax Credit (ITC) offers a three-percent credit for qualifying businesses to offset their Massachusetts corporate excise tax, and is to be used for the purchase and lease of qualified tangible property used in the course of business operations. Accordingly, the ITC helps reduce the cost of expansion for qualifying businesses.
Massachusetts Research & Development Tax Credit
Massachusetts offers a tax incentive for research and development investment for both manufacturers and research and development companies. The Research & Development Tax Credit is designed to remove obstacles to research and development investment, and thereby spur growth and innovation throughout Massachusetts. It specifically offers qualifying companies a number of unique features for doing business in the Commonwealth.
Tax Expenditure Budget Information