The mission of the department is to enhance investment opportunities for businesses and to improve the quality of life for residents.

The department works to attract outside corporations, spur expansion of existing local employers, and foster start-ups by providing tax incentives and technical assistance.

Additionally, the agency provides grant funding to community groups and local governments for projects such as revitalizing "Main Street" infrastructure, enhancing low income housing availability, or improving access to technology.

Established in 2004, the Commonwealth Financing Authority (CFA) is an independent agency within the DCED tasked with administering the stimulus package.

The Early Intervention Program (EIP) provides matching grant funds to assist municipalities experiencing financial difficulties.