MassDevelopment

MassDevelopment is the Commonwealth’s development finance agency and land bank We are committed to achieving three goals: stimulating business, driving economic growth, and helping communities thrive across Massachusetts. Our team works with businesses, nonprofits, banks, and communities to deliver a wide variety of programs and services, such as loans, tax-exempt bonds, grants, real estate technical assistance, and more. MassDevelopment formed in 1998 from a merger of the Massachusetts Government Land Bank and Massachusetts Industrial Finance Agency. 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. In 2025, the Massachusetts Growth Capital Corporation was merged into MassDevelopment enhancing the agency's ability to support small businesses in the form of alternative funding, resources, and individualized services. During FY2024, MassDevelopment financed or managed 349 projects generating investment of more than $3.5 billion in the Massachusetts economy. These projects are estimated to create or support 22,426 jobs and build or preserve 1,754 housing units. We invite you to reach out to our team to learn more about our programs and services, and how we might help your organization grow here in Massachusetts.