MassDevelopment is the Commonwealth of Massachusetts’ development finance agency and land bank, dedicated to stimulating business growth, advancing economic development, and strengthening communities statewide.

The agency provides flexible financing and technical assistance through loans, tax-exempt bonds, grants, real estate services, and other resources tailored to the needs of businesses, nonprofits, developers, lenders, and municipalities.

Formed in 1998 through the merger of the Massachusetts Government Land Bank and the Massachusetts Industrial Finance Agency, MassDevelopment expanded its capabilities in 2010 when the Massachusetts Health and Educational Facilities Authority joined the agency, strengthening its tax-exempt bond financing programs. In 2025, the Massachusetts Growth Capital Corporation merged into MassDevelopment, further enhancing support for small businesses through alternative funding, targeted resources, and technical assistance.

In fiscal year 2026, MassDevelopment financed or managed 538 projects, generating more than $6.52 billion in investment, supporting an estimated 42,113 jobs, and helping create or preserve 4,355 housing units across Massachusetts.