Tax Credits to Massachusetts For-Profits to Promote Job Creation and Business Development

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Economic Development Incentive Program (EDIP)

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Agency Type:

State

 Funding Source:

Massachusetts Office of Business Development (MOBD), Executive Office of Housing and Economic Development, and Economic Assistance Coordinating Council (EACC)

Deadline Date:

08/17/22 5:00 PM

 Description:

Tax credits to Massachusetts businesses to promote job creation and spur economic development. Applicants must contact program staff and submit an LOI and a preliminary application prior to applying. Funding is intended to help businesses grow by offering credits to lower taxes in exchange for job creation.

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. The main criteria that will be considered for funding are whether a project is unlikely to move forward without state and local government support.

 GrantWatch ID#:

GrantWatch ID#: 202685

Additional Eligibility Criteria:

Massachusetts companies may apply.

Pre-Application Information:

All application material is due to your Regional Director by 5 pm on the date indicated below.

Preliminary Application Due: July 13, 2022
Supplemental Application Due: August 17, 2022
EAC Meeting Date: September 22, 2022

Preliminary Application Due: October 5, 2022
Supplemental Application Due: November 2, 2022
EAC Meeting Date: December 8, 2022

Preliminary Application Due: January 25, 2023
Supplemental Application Due: February 22, 2023
EAC Meeting Date: March 23, 2023

Preliminary Application Due: April 19, 2023
Supplemental Application Due: May 17, 2023
EAC Meeting Date: June 15, 2023

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 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.

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.

Contact Information:

Before starting your grant application, please review the funding source’s website listed below for updates/changes/addendums/conferences/LOIs.

The application must be returned in electronic form to your MOBD Regional Director

In addition, mail a hard copy with the original signature(s) to:
EDIP Manager, MOBD
136 Blackstone Street, 5th Floor
Boston, MA 02109

Regional Director Contact Information: https://www.mass.gov/service-details/massachusetts-office-of-business-development-regional-directors

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