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Economic Development
Status
Signed Into Law
An Act relative to strengthening Massachusetts’ economic leadership
This economic development legislation authorizes a $3.96 billion infusion into the Commonwealth’s economy while making wide-ranging policy changes to make Massachusetts more competitive.
Highlights
- Makes a $400 million investment in climatetech with significant funding going towards offshore wind and supporting the development of new technologies.
- Authorizes $500 million over ten years for the Life Sciences Breakthrough Fund.
- Requires ticket sellers to clearly disclose the actual ticket price when listing tickets online and bans automated ticket purchasing software, also known as bots, that drive prices up and keep real fans from getting tickets.
- Authorizes $400 million for the MassWorks Infrastructure Program and $100 million for infrastructure improvements in rural communities.
- Launches a new tax credit of up to $7 million annually to support local live theater productions.
- Authorizes $21 million for resilience in agriculture and fishing while also allowing farmers to diversify how they use their farms, including using land for agritourism and selling products made from their produce
- Updates the law to allow for locally produced craft beer to be sold at farmers markets, like wine and cider currently.
- Helps to alleviate nursing shortage by including a provision to admit Massachusetts in the national nurse licensure compact
- Authorizations also include $150 million for library construction projects, $103 million for artificial intelligence in systems across the state, and $40 million for food science innovations.
- Rezones a parcel of land in Everett making way for a new professional soccer stadium which is expected to have a positive economic and environmental impact on the Community.
- Removes current limitations on political candidates using campaign funds for childcare services that occur because of campaign activities.
- Allows for an alternative certification process for teachers who may face challenges passing the educator certification exam but can otherwise demonstrate their competence as teachers, helping Massachusetts diversify the K-12 educator workforce.
- Creates clear standard for public agencies and municipalities to enter into project labor agreements for public works contracts when such an agreement is in the best interest of the public agency or municipality.
- Overhauls the state’s fragmented public health system to ensure strong public health protections for all residents regardless of race, income, or zip code.
- Enacts the largest reform of the civil service system in decades, the new system will provide more hiring flexibility and a new hybrid pathway allowing for candidate selection outside the traditional process.
"This economic development bill maximizes assets and opportunities and ensures Massachusetts will continue to lead the way toward a robust, adaptable, and innovative future. The bill provides meaningful investments in life sciences, climatetech, and small businesses."
- Senator Barry R. Finegold (D-Andover)
- Senator Barry R. Finegold (D-Andover)