Through these collaborations the agency helps create jobs, increase the number of housing units, revitalize urban environments, and address factors limiting economic growth including transportation, energy, and infrastructure deficiencies.
The Massachusetts Health and Educational Facilities Authority was merged into MassDevelopment in 2010, strengthening the depth of offerings for tax-exempt bond financing of capital projects.
Projects vary in nature and size from real estate and equipment financings[8] to the ongoing redevelopments of Devens,[9] Village Hill Northampton, Springfield's 1550 Main, and the expansion of the Myles Standish Industrial Park in Taunton.
[10] Recent financing projects include tax-exempt bonds on behalf of affordable housing projects in Boston's Dorchester and Roxbury[11] neighborhoods, Somerville,[12] and Springfield;[13] the construction of a new 1,210-bed residence hall at University of Massachusetts Dartmouth;[14] the expansion of Valley Steel Stamp's manufacturing headquarters in Greenfield;[15] and a loan to Atomic Coffee Roasters to help the small business buy equipment for its new coffee-roasting and cold brew production facility in Danvers.
To date, MassDevelopment has established 14 TDI Districts in 13 Gateway Cities: Brockton, Chelsea, Fitchburg, Haverhill, Holyoke, Lawrence, Lynn, New Bedford, Peabody, Pittsfield, Revere, Springfield, and Worcester.