An Act relative to investment in Massachusetts-based jobs
By Mr. Cyr, a petition (accompanied by bill, Senate, No. 296) of Julian Cyr for legislation relative to investment in Massachusetts-based jobs. Economic Development and Emerging Technologies.
This bill pertains to tax credits which the Massachusetts Economic Assistance Coordinating Council (EACC) are able to award to eligible businesses via the Massachusetts Economic Development Incentive Program (EDIP).
S.296 would expand the Massachusetts Economic Development Incentive Program (“EDIP”) program to strengthen incentives and encourage more businesses to locate their global operations and headquarters in Massachusetts. This bill would direct the Massachusetts Economic Assistance Coordinating Council (“EACC”) to give preference in awarding tax credits to businesses that already base their operations or headquarters within the Commonwealth of Massachusetts. S.296 would also preclude businesses that are headquartered (or with executive operations) out-of-state from qualifying for multi-year tax credits.
An Act relative to investment in Massachusetts-based jobs would direct the EACC to create a new incentive program to encourage businesses located within the Commonwealth to hire additional, new, permanent, full-time employees in Massachusetts. Finally, this bill would encourage the award of tax credits to business located outside of the tradition urban hubs.
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