Massachusetts Development Finance Agency

What is Massachusetts Development Finance Agency?

MassDevelopment, officially known as the Massachusetts Development Finance Agency, is a comprehensive economic development agency dedicated to job creation, expanding housing, and revitalizing communities across Massachusetts. They are based in Boston and function as a powerful resource for a wide range of stakeholders, including manufacturers, businesses, developers, housing initiatives, municipalities, defense and military operations, banks, and nonprofits.

MassDevelopment's investment interests primarily lie in the BioTech industry, although they are not limited to it. The agency offers unique financing solutions, real estate expertise, and community development programs. With investment amounts capping at $50,000, they provide a variety of services like bonds, loans and guarantees, tax credits, and green finance options.

Their real estate offerings include planning, predevelopment services, site readiness, and consulting. MassDevelopment also supports community development through grants, technical assistance, and the Transformative Development Initiative (TDI), which revitalizes districts with a focused approach.

Their success stories span various sectors, evidencing their role in impactful projects such as housing bonds for Salem's New Point, PACE Massachusetts financing for energy improvements in Greenfield, and business loans that enabled City Fresh Foods in Boston to expand. The agency aims to collaborate with partners in a tailored manner, enhancing Massachusetts' economic landscape one project at a time.