General Information
The Economic Development Incentive Program (EDIP) is designed to foster job creation and stimulate business growth. A company that participates in EDIP may receive state tax credits and/or local property tax incentives in exchange for a commitment to new job creation, existing job retention, and private investment in the project. There are many factors and criteria that the EDIP Review Team and Economic Assistance Coordinating Council (EACC) will consider throughout the process, chief among them being whether a project is unlikely to move forward without state and local government support.
If you own a company and are looking to grow your enterprise, contact a MOBD Regional Director to discuss your project. These directors can help with the required state and municipal processes to apply for EDIP. It is recommended that you involve a regional director early in the process as they can can help to pre-qualify a project, determine whether EDIP tax credits or a different program may be more appropriate, improve your application, and set realistic expectations. Regional directors also know program deadlines and nuances, eligibility requirements, and a city or town's historic use of EDIP.
2024 Meetings and Application Deadlines
All application material is due to your Regional Director by 5pm on the date indicated below. Local Only Applications are due the same day as Supplemental Applications.
| EACC Meeting Date | Meeting Location | Preliminary Application Due Date | Supplemental Application Due Date |
|---|---|---|---|
| December 12, 2024 | TBD | October 9, 2024 | November 6, 2024 |
| March 20, 2025 | TBD | January 22, 2025 | February 19, 2025 |
| June 26, 2025 | TBD | April 16, 2024 | May 14, 2025 |
| September 18, 2025 | TBD | July 16, 2025 | August 20, 2025 |
Applying for the EDIP’s investment tax credit
To apply for the EDIP’s investment tax credit, you must submit:
- Letter of Intent: You must submit a letter of intent to the municipality of interest and the municipality's MOBD Regional Director. You should send the letter of intent at the earliest possible date.
- Preliminary Application (Round 1): To apply to the EDIP you must submit a preliminary application by the posted deadline to be considered at the corresponding EACC meeting. MOBD will review the application and ensure that the applicant meets the eligibility requirements of the EDIP.
- Supplemental Application (Round 2): Qualified applicants may receive a Supplemental Application for consideration by the EACC. Sample documents are below and are for informational purposes only. If you receive a Supplemental Application you must submit it by the posted deadline for consideration at the corresponding EACC meeting.
- SAMPLE Supplemental Application
- Supplemental Application Exhibit 1: EDIP Investment Analysis
- Supplemental Exhibit 2: Local Incentive Valuation
- SAMPLE Supplemental Application
Applying for a Local Incentive Only
- Letter of Intent: You must submit a letter of intent to the municipality of interest and the municipality's MOBD Regional Director. You should send the letter of intent at the earliest possible date.
- Local Incentive Only Application: If you are working with a municipality to execute a Tax Increment Financing (TIF) Agreement or Special Tax Assessment (STA), and are not applying for the EDIP Credit, you must submit a Local Incentive Only Application to the EACC by the posted deadline for consideration at the corresponding meeting date.
EDIP Annual Reporting for active projects
Active EDIP projects must submit an annual report to the Economic Assistance Coordinating Council (EACC), which reviews each project for compliance with job and investment commitments, and if applicable, investment tax credit use.
Failure to submit an annual report triggers a project decertification, which may result in the loss of state and local tax benefits.
Projects certified BEFORE January 1, 2010: Report on the company's fiscal year (July 1st-June 30th) using our Electronic File Annual Reporting System. The time to report is August - September. We will send notification to the appropriate party when the reporting period becomes active in mid-August. Please contact Joey Giovino at 617-973-8536 with questions.
For projects certified AFTER January 1, 2010: Report on the company's calendar year (January 1-December 31) using our Electronic File Annual Reporting System. The time to report is January - February. We will send notification to the appropriate party when the reporting period becomes active in mid-January. Please contact Joey Giovino at 617-973-8536 with questions.
For municipalities with active EDIP projects: You can review the annual reports filed by projects from your community by using a Municipal Login to the Electronic File Annual Reporting System. For login information or to discuss contents of an annual report, please contact: Joey Giovino at 617-973-8536.
EDIP Award Recipients
EDIP Annual Reports
About the Economic Assistance Coordinating Council (EACC)
The EDIP is overseen by the Economic Assistance Coordinating Council. The council is comprised of 15 voting members that include public officials and appointees by the governor.
Primary responsibilities of the EACC include:
- Establishing regulations, policies and procedures to administer the EDIP
- Certify and contract EDIP Projects
- Administer EDIP annual reports
- Decertify projects that are not compliant