The Massachusetts Legislature has passed a comprehensive economic development bill worth $4 billion, more than three months after the end of the legislative session. The bill, which also includes several policy changes, is now awaiting approval from Governor Maura Healey.
One of the key provisions in this bill is a $400 million allocation for capital resources to be used by the Massachusetts Clean Energy Center over the next decade. Additionally, it authorizes an additional $500 million over 10 years for the Life Sciences Breakthrough Fund to continue supporting life sciences initiatives in Massachusetts. Other notable highlights include:
– A budget of $400 million for MassWorks Infrastructure Program aimed at creating jobs and supporting public infrastructure projects
– An allocation of $150 million towards library construction projects
– A sum of $103 million dedicated to artificial intelligence systems across various state agencies
– An investment worth$100millionforimprovinginfrastructureinruralcommunities
-$21milliontobespentonresilienceprogramsforagricultureandfishingindustries
-$40millionallocatedtoinnovationsinfoodscience
According to Senator Barry R.Finegold (D-Andover), who serves as Senate Chair on both Conference Committee and Joint Committee on Economic Development and Emerging Technologies,”This economic development bill leverages our assets and opportunities while ensuring that Massachusetts remains atthe forefrontofastrong,dynamic,andinnovativefuture.”
