MassDevelopment works with businesses, nonprofits, and local, state, and federal officials and agencies to strengthen the Massachusetts economy. Through this collaboration we help create jobs, increase the number of housing units, eliminate blight, and address the overarching challenges that limit economic growth, such as transportation, energy, and other infrastructure deficiencies.

Offering a wide range of finance programs and real estate development services, MassDevelopment supports economic growth, development, and investment across all sectors of the Massachusetts economy: public and private; commercial, industrial, and residential; and nonprofit, including educational, cultural, and human service providers. Our staff works in collaboration with private- and public-sector developers, businesses, and banks to identify investors and leverage public and private funds to support economic growth.

History

Created in 1998 when the Massachusetts State Legislature enacted M.G.L. Chapter 23G and merged the Massachusetts Government Land Bank with the Massachusetts Industrial Finance Agency, MassDevelopment is the state’s finance and development authority. Both a lender and developer, the Agency works with private- and public-sector clients to stimulate economic growth by eliminating blight, preparing key sites for development, creating jobs, and increasing the state’s housing supply.

From FY2004 through FY2008, MassDevelopment financed or managed more than 900 projects in 190 communities statewide representing an investment of more than $9.4 billion in Massachusetts. These projects are supporting the creation of 10,045 housing units and more than 45,000 permanent and construction-related jobs. Largely self-supporting, the agency currently has a $112 million operating budget.