General Outline of Incentives
The Economic Development Incentive Program (EDIP) is a tax incentive program designed to foster fulltime job creation and stimulate business growth throughout the Commonwealth. Participating companies may receive state and local tax incentives in exchange for full-time job creation, manufacturing job retention and private investment commitments.
As of January 1, 2010, the Economic Assistance Coordinating Council (EACC) may certify three categories of project for companies that generate substantial sales outside of the Commonwealth and are seeking the EDIP Investment Tax Credit (ITC): full-time job creation and investment projects within Economic Target Areas (ETA), projects with exceptional employment growth across the Commonwealth and finally, projects within gateway communities that sustain and grow manufacturing jobs.
The EACC will also consider applications seeking the Abandoned Building Renovation Deduction and municipally supported local real estate tax incentive applications for projects that are not seeking an EDIPITC.
The Regional Employment Board (REB) will assist in workforce development through grants and with their nationally recognized One Stop Career Centers.
MassDevelopment partners with cities and towns across the Commonwealth to offer numerous services to companies interested in relocating or expanding their operations to the region these include:
© 2008 Western Massachusetts Economic Development 1441 Main Street Springfield MA 01103