Mass Dev Finance Agency

The Massachusetts Development Finance Agency (MassDevelopment) is the Commonwealth's development finance and real estate arm, dedicated to driving economic growth across Massachusetts. Functioning as a self-sustaining public agency, it leverages a variety of financial tools and real estate expertise to stimulate job creation, support business expansion, and revitalize communities. MassDevelopment doesn't rely on state tax dollars for its core operations, instead generating revenue through its lending, bond financing, and real estate activities.

A key function of MassDevelopment is providing access to capital for businesses and non-profit organizations, especially those that may face challenges securing traditional bank financing. This is achieved through a range of programs, including direct loans, loan guarantees, and tax-exempt bond financing. These tools are crucial for supporting projects that promote economic development, whether it's helping a small business purchase equipment, financing the construction of affordable housing, or enabling a manufacturer to expand its operations.

MassDevelopment's bond financing activities play a significant role in infrastructure development and community revitalization. The agency issues bonds on behalf of organizations like hospitals, colleges, and cultural institutions, providing them with access to lower interest rates and flexible repayment terms. This allows these organizations to invest in capital improvements, expand their services, and contribute to the overall quality of life in their communities. Beyond direct financing, MassDevelopment acts as a conduit issuer, facilitating tax-exempt bond financing for private developers engaged in projects that serve a public purpose.

In addition to financial assistance, MassDevelopment actively participates in real estate development and redevelopment projects. The agency acquires, develops, and manages properties across the state, often focusing on underutilized or blighted sites. These projects can range from brownfield remediation and industrial park development to mixed-use projects that combine housing, retail, and commercial space. Through its real estate expertise, MassDevelopment aims to create vibrant and sustainable communities that attract businesses, residents, and investment.

MassDevelopment's impact extends beyond individual projects. It plays a crucial role in shaping the state's overall economic landscape by identifying strategic opportunities, fostering collaboration between public and private sectors, and promoting innovation. The agency works closely with local communities, businesses, and other stakeholders to understand their needs and develop customized solutions that address their specific challenges. By providing financial resources, real estate expertise, and strategic guidance, MassDevelopment serves as a catalyst for economic growth and community revitalization across Massachusetts.