MASSACHUSETTS INCENTIVES SUMMARY
Economic Development Incentive Program (EDIP)
EDIP is an incentive program designed to assist with job creation, manufacturing job retention and capital investment in Massachusetts. Incentives may include an Investment Tax Credit (ITC) of up to 10 percent and local Tax Increment Financing (TIF). A TIF is negotiated with the municipality to reduce property tax with savings of 5% to 100% for a period of 5 to 20 years.
Investment Tax Credit
Available to manufacturers, certain R&D companies, and companies engaged primarily in agriculture or commercial fishing. Offers a three percent tax credit against the Massachusetts corporate excise tax for the purchase and lease of qualified tangible property used in business operations.
Brownfields Redevelopment Fund
This program finances up to $250,000 in site environmental assessment and/or up to $750,000 in remediation of brownfield sites.
Notice: This list of economic development incentive programs is intended to provide a high-level overview of commonly pursued state discretionary programs. A comprehensive analysis of project details will determine the full scope of state and local incentive programs that may be available to support a specific project.