Technology (Economic Development)

This bill establishes a multi-year funding program administered by the Executive Office of Economic Development to support various sectors of the Massachusetts economy. The legislation allocates millions of dollars in grants to private businesses for constructing green facilities, developing artificial intelligence technologies, and creating new jobs, while also providing funds for defense innovation, food science, robotics research, and local downtown revitalization. A key requirement for most grants is that they must be awarded in a way that promotes geographic equity across the state. The funds are available until June 30, 2036, and can be administered by the executive office or contracted to existing state agencies.

This bill authorizes the Massachusetts Executive Office of Economic Development to distribute over $275 million in grants to private businesses, public entities, and non-profits to stimulate economic growth and innovation. The funding supports specific initiatives including the construction of energy-efficient and climate-resilient facilities, the development of artificial intelligence technologies, and the establishment of hubs for early-stage companies and defense-related research. Additional funds are allocated to strengthen local downtowns, advance food science and agriculture, enhance the creative economy, and promote robotics technology. All grant programs include requirements to ensure geographic equity across the state and are authorized for use until June 30, 2036.

By Mr. Cyr, a petition (accompanied by bill, Senate, No. 296) of Julian Cyr for legislation relative to investment in Massachusetts-based jobs. Economic Development and Emerging Technologies.