Massachusetts Legislature Enacts $4B Economic Development Bill

The Massachusetts Legislature has enacted a $4-billion economic development bill more than three months after the formal end of the legislative session. The bill, which also includes a number of policy changes, now awaits the signature of Massachusetts Gov. Maura Healey.

Among other provisions, the bill provides $400 million in capital resources to the Massachusetts Clean Energy Center to utilize over the next 10 years and authorizes $500 million over 10 years for the Life Sciences Breakthrough Fund to reauthorize the Commonwealth’s life sciences initiative. Other highlights include the following:

• $400 million for the MassWorks Infrastructure Program to support public infrastructure projects and create jobs;

• $150 million for library construction projects;

• $103 million for artificial intelligence in systems across the state;

• $100 million for infrastructure improvements in rural communities;

• $21 million for resilience in agriculture and fishing; and

• $40 million for food science innovations.

“This economic development bill maximizes assets and opportunities and ensures Massachusetts will continue to lead the way toward a robust, adaptable, and innovative future,” said Sen. Barry R. Finegold (D-Andover), Senate Chair of the Conference Committee and Senate Chair of the Joint Committee on Economic Development and Emerging Technologies.