About This Series
DMA’s Incentives Program Spotlight series highlights opportunities for businesses to maximize return on capital investment projects through state and local incentive programs, including tax credits, grants, loans, and abatements. Contact DMA’s Credits & Incentives team for assistance in matching your projects with optimal incentive programs.
The Massachusetts Office of Business Development (MOBD) assists businesses investing in the Commonwealth with programs incentivizing jobs created, jobs retained, and capital invested. Through MOBD’s flagship program, the Economic Development Incentive Program (EDIP), eligible companies may receive tax credits and/or local property tax incentives for a period of 5 to 20 years when committing to new job creation, existing job retention, and private capital investment tied to a specific project that could not proceed without government support.
MOBD’s Economic Assistance Coordinating Council (EACC), comprised of 15 voting members, oversees the program and is ultimately charged with certifying and contracting all EDIP projects.
To be eligible for the EDIP, a company must:
- Commit to create new, full-time permanent jobs in Massachusetts
- Invest in a one-time project
- Demonstrate that EDIP tax credits and/or local tax incentives were needed for the proposed project to move forward
How to Apply
To apply for the EDIP tax credit, a business must submit preliminary and supplemental applications to one of MOBD’s Regional Directors according to the quarterly due dates set forth by the EACC. Proposals must include:
- A detailed description of the proposed project
- An estimate of the capital investment to be made
- An estimate of the new jobs to be created and the number of existing jobs to be retained (if applicable)
- An outline of other economic benefits or other public benefits expected as a result of the project
- A municipal project endorsement
- Other detailed information, as required by the EACC
The EACC shall either certify the proposed project, deny certification of the proposed project, or certify the proposed project with conditions.
Companies with active EDIP projects must compile and submit an annual report to the EACC, adhering to published requirements and deadlines. The Council reviews projects for compliance with job and investment commitments, and investment tax credit use.
Noncompliance results in project decertification, which could result in the loss of tax benefits.
Considering a project in Massachusetts?
Don’t forget local support. Maximize your return by talking with DMA early in the planning stages to ensure you engage the right local and state partners. Our nationwide team of incentives and property tax experts can add significant value to your development project. We work together with you to unburden your team—from site selection to incentive procurement and compliance.