The Economic Development Incentive Program (EDIP) is a program run out of the Massachusetts Office of Business Development. The purpose of this program is to foster job creation and stimulate business growth.
Benefits:
A company that participates in EDIP may receive state tax credits and/or local property tax incentives in exchange for a commitment to new job creation, existing job retention, and private investment in the project.
If you own a company and are looking to grow your enterprise, contact a MOBD Regional Director to discuss your project. These directors can help with the required state and municipal processes to apply for EDIP. It is recommended that you involve a regional director early in the process as they can help to pre-qualify a project, determine whether EDIP tax credits or a different program may be more appropriate, improve your application, and set realistic expectations. Regional directors also know program deadlines and nuances, eligibility requirements, and a city or town's historic use of EDIP.
