Legislation would expand existing economic development programs for Everett
BOSTON – Senator Sal DiDomenico recently advocated for the passage of “An Act to promote transformative development in Gateway Cities,” at a hearing before the Joint Committee on Economic Development and Emerging Technologies. This bill, co-sponsored by the Senator, seeks to foster existing economic development programs and encourage additional private investment in Gateway Cities by changing and expanding programs such as the Economic Development Program, the Housing Development Incentive Program, and the Historic Rehabilitation Tax Credit Program. It also creates a new fund at MassDevelopment dedicated to these cities that will supplement existing Commonwealth programs and promote commercial and residential development.
“Gateway Cities like Everett have tremendous growth potential,” said Senator Sal DiDomenico. “I am a strong supporter of this bill because I believe that it would go a long way towards giving our communities the resources that they need to achieve even greater success.”
The bill is currently pending before the Joint Committee on Economic Development and Emerging Technologies, awaiting the Committee’s final report.