MassDevelopment works with businesses, nonprofits, and local, state, and federal officials and agencies to strengthen the Massachusetts economy. Through these collaborations we help create jobs, increase the number of housing units, eliminate blight, and address factors limiting economic growth including transportation, energy, and 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 healthcare, 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.
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.
Chapter 240 of the Acts of 2010 merged the Massachusetts Health and Educational Facilities Authority into MassDevelopment effective October 1, 2010. MassDevelopment looks forward to welcoming new customers and to continue providing a high level of service to cultural, educational, and medical institutions in the Commonwealth.
During FY2014, MassDevelopment financed or managed 314 projects generating investment of more than $2.9 billion in the Massachusetts economy. These projects are projected to create more than 6,300 jobs and build or rehabilitate more than 1,600 residential units.