MassDevelopment

MassDevelopment operates as Massachusetts’ economic development and finance agency, delivering comprehensive financial and real estate solutions to foster growth across the Commonwealth. The agency actively provides specialized financing mechanisms and spearheads strategic real estate development projects, alongside offering community development support. Its core approach centers on deploying these integrated resources to catalyze business expansion and urban revitalization.

The organization was formally established in 1998 through the legislative merger of the Massachusetts Government Land Bank and the Massachusetts Industrial Finance Agency. This foundational consolidation, enacted under Chapter 23G of the Massachusetts General Laws, stemmed from the insight that a unified public entity could more effectively coordinate and accelerate the state’s economic development initiatives. No individual founders are associated with its creation, as it was a state-mandated integration.

MassDevelopment serves a broad constituency including private companies, municipalities, and non-profit organizations throughout Massachusetts. Its overarching mission is to stimulate robust economic development and industrial growth, thereby expanding opportunities and enhancing prosperity within local communities. The agency envisions a future where its strategic investments continue to drive long-term economic vitality across the state.