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FUNDING SOURCES

Massachusetts State Funding Programs

The main state office assisting businesses in Massachusetts is the Massachusetts Office of Business Development. This agency oversees initiatives related to job creation, retraining, and capital investments for companies located in the Commonwealth or relocating there.

Financing programs include:

Division of Agricultural Markets

The Massachusetts Division of Agricultural Markets works with agribusinesses in the state to help keep them economically viable and assist with efforts such as educational programs, marketing, and public relations. The agency includes some financing programs, such as cost-sharing to offset the costs of organic certification.

Economic Development Incentive Program

Businesses participating in the Economic Development Incentive Program receive state and/or local tax credits in exchange for a commitment to create new jobs, retain existing ones, and make private investments in a project. Regional directors with the Massachusetts Office of Business Development assist with the state and municipal processes involved in applying for this program.

Executive Office of Housing and Economic Development

This office assists businesses with a variety of initiatives as part of its broader mission to support vibrant communities, business growth, and economic opportunities. One key initiative is the Community Development Capital Program, which helps to ease credit access for small businesses.

On the Job Training Program

Massachusetts’ On the Job Training Program helps businesses with the costs involved in hiring and training new employees. Participants work with a MassHire Career Center to get matched with trainees, and are reimbursed a percentage of the wages paid to the candidate during their training.

State Trade Expansion Program

Offsets the development and marketing costs involved in extending a business’s products or services to an international market. Matching grants of up to $12,000 are available to cover approved projects, activities, or services.

Workplace Safety Training Grant

Offered by the Massachusetts Department of Industrial Accidents, the Workplace Safety Training Grant helps cover the costs of programs designed to promote safe and healthy workplace conditions.