“We need to move faster,” economic development secretary says
STATE HOUSE, BOSTON, April 16, 2026…..Gov. Maura Healey announced Thursday a long-awaited economic development bill that proposes $305 million in capital authorizations and, among other provisions, would lower the fee for starting a business in Massachusetts and incentivize companies to hire in-state students.
Dubbed the “Mass Wins Act” (HD 6046) — An Act Relative to Massachusetts Winning Global Investment, Talent, and Innovation — the governor said the bill emphasizes the state’s place in the global ecosystem, where Massachusetts’ most prized industries face increased competition while the state yearns to attract more companies here.
$305 Million in Capital Authorizations and Policy Changes
The $305 million in capital authorizations are offset by about $254 million in deauthorizations, according to a bill summary, and the legislation contains more than 150 policy sections. The administration organized the bill around five “pillars” addressing the global economy; lowering costs; supporting the workforce; economic competitiveness; and equity reforms.
“We are operating in a much more competitive global environment than even a few years ago. Capital is more mobile. Companies have more choices. And other states and countries are being aggressive about attracting investment and talent,” Economic Development Secretary Eric Paley said at an afternoon press conference. “At the same time, federal uncertainty — research cuts, ever-changing tariffs — is creating real pressure on our businesses.”
The bill proposes a $50 million seed investment, through a new GlobalMass Innovation Access Fund, to attract global capital into Massachusetts-based companies, Healey said. It will be directed through the state’s Pension Reserves Investment Management board in a fund-of-funds, according to a bill summary. Under the bill, $20 million would also be put toward site development and infrastructure to attract international companies to Massachusetts.
“We have the talent, we have the ideas, we have the capabilities to do extraordinary things here in Massachusetts, but we need to move faster. We need to lower costs. We need to make it easier to build and grow here,” Paley said.
Business Cost Reductions and Incentives
Healey said the fee for starting a new business would drop 80%, from $500 to $100, under her bill.
Bay Staters, their families and their businesses have faced affordability woes for months, pigmented by some of the highest energy costs in the country, an ongoing housing crisis, and major health care access and cost concerns. January jobs numbers showed the state unemployment rate at 4.7%, compared to the national rate of 4.3%, though that month’s job additions marked four consecutive months of job growth.
In an attempt to keep talent in the state, Healey’s bill would “close a loophole” in the state’s noncompete law that enables employers “to avoid paying fair compensation when enforcing a noncompete agreement,” according to her office.
“I guess I’d look at this bill as primarily a policy bill, making important policy changes that will make it better for business here in the state,” Healey said after being asked for the bill’s bottom line. “There are also significant bond authorizations, and then there’s relatively minor budget impact in terms of the general budget.”
A proposed $10 million annual internship tax credit aims to incentivize employers to hire students from in-state colleges, Healey said. The provision in the bill “accelerates implementation” of the tax credit, which was established in the 2024 economic development bill, according to a bill summary.
“We’re trying to do as much as we can to retain our talent, our young people,” Paley explained, calling the internship tax credit a “broad” program. “We want to make sure we’re doing everything we can to root them in this ecosystem. It’s also more difficult across the country coming out of school to find jobs, so this also helps mobility and pathways for those students.”
Investment in Key Industries and Innovation
Provisions related to utilities would give 20,000 more businesses access to the Small Business Energy Tax Exemption, according to the administration, which said would result in an average benefit of $750 to $1,000 per newly eligible taxpayer. It would also authorize discounted utility rates for large employers relocating to Massachusetts, which Healey’s office said would not increase costs for other ratepayers.
It’s typical that a governor files an economic development bond bill once every session. Asked what kind of feedback she has received from House and Senate leadership on the bill, Healey said, “They haven’t had a chance to look at it yet.”
There are less than four months for the bill to get through both chambers before the Legislature’s new joint rules dictate that only bills already in conference committee by July 31 are to be addressed via formal sessions in the latter five months of the year.
Lawmakers in March slashed a different economic proposal from Healey, eliminating from her $400 million Discovery, Research and Innovation for a Vibrant Economy (DRIVE) bill a $200 million outlay that would have gone toward research projects at Massachusetts hospitals, universities and independent research institutions. The bill had a hearing in October, after Healey filed it in July. The slimmed-down version (H 5259) was sent to House Ways and Means on Wednesday.
Healey has, for months, expressed interest in filing a jobs bill, but had not provided detail. House Speaker Ron Mariano said last week that in talking to Healey about this year’s bill, she told him it would be “scaled-down.”
Healey signed her last economic development bond bill in November 2024, which was 319 pages and roughly $4 billion.
Her 2026 economic development proposal includes provisions aimed at addressing siting reform. According to a administration webpage, the proposal would make the building appeals process “more consistent and predictable.”
In an attempt to “support housing development and reduce development barriers,” the bill would also create statewide standards for site plan review, allow cities and towns “to adopt commercial conversion practices to transform underutilized properties into housing,” and enable mayors to formally initiate zoning proposals, according to a press release.
Lt. Gov. Kim Driscoll said $25 million would be dedicated to downtown revitalization projects, and that the bill would give municipalities better tools to get broadband infrastructure in place, streamline licensing for home inspections, and expand eligibility for the state’s Cultural Facilities Fund. The bill would funnel $25 million toward new capital investments in the creative economy.
The bill would also authorize $100 million for defense sector innovation; $75 million for expansion of artificial intelligence use across industries and investment in technologies like quantum computing; $25 million for robotics; and $25 million for capital support for companies expanding or constructing facilities in the state. Another provision would establish a dedicated board for climatetech grid innovation and enable faster approvals for energy infrastructure projects.
