Key Programs and Resources
Economic Development Incentive Program (EDIP)
Administered by the Mass Office of Business Development
EDIP seeks to create new jobs and help businesses grow. Growth is encouraged by offering credits to lower taxes in exchange for job creation.
Microlending and Community Development Capital
Administered by Mass Office of Business Development
Provides matching and technical assistance grants to eligible nonprofit lenders, including certified community development financial institutions (CDFIs) and community development corporations (CDCs). State funds will also enable these community-based organizations to leverage federal and/or private funds to extend credit to small businesses.
Small Business Technical Assistance Program
Administered by MassGrowth Capital
Leverages community and economic development non-profits to help small businesses create and preserve jobs. The grants are awarded to community development corporations, chambers of commerce, and similar non-profits. They use the funds to provide crucial services, such as technical assistance, training in business skills, and access to financing, to their local businesses.
Community Development Capital Program
The Community Development Capital Program is a procurement of the Executive Office of Housing and Economic Development (EOHED), and Massachusetts Growth Capital (MGCC).
Through the program, the Commonwealth will provide matching and technical assistance grants to eligible nonprofit lenders, including certified Community Development Financial Institutions (CDFIs) and Community Development Corporations (CDCs). State funds will also enable these community-based organizations to leverage federal and/or private funds, for the purpose of extending credit to small businesses.
* Additional Programs and Resources
Community Compact Program
Administered by Commonwealth of Massachusetts Executive Offices
The Community Compact Program is a voluntary, mutual agreement entered into between the Baker-Polito Administration and individual cities and towns. In a Community Compact, a community agrees to implement at least one best practice that they select from across a variety of areas, with several connecting to Economic Development. For example, one best practice is to create opportunities for engaging diverse stakeholders in economic development efforts, such as to assist with identification of priority development projects, improve local permitting processes, and proactively address obstacles to housing/job creation.
Operated by MassEcon
Working with public sector partners, MassEcon brings a private sector voice to marketing Massachusetts as a place to do business. Its leaders served on the governor’s Economic Development Council, and its ambassadors – a network of business executives throughout the state – serve as peer resources for companies considering Massachusetts as an expansion location.
Mass Small Business Development Center Network
Administered by the University of Massachusetts
Fosters the start, growth and sustainability of small business by providing high-quality, in-depth advising, training and capital access.
SBIR Target Technologies (START) Program
Administered by MassVentures
Helps high growth companies expand local employment opportunities, promote local manufacturing and commercialization, and stimulate innovation across the Commonwealth.
State Trade Export Program (STEP)
Administered by the Mass Office of International Trade & Investment
Offsets international business development and related marketing costs for small businesses. STEP grant proceeds may be used for specific international business development and marketing costs.