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Massachusetts Business Resource

Massachusetts’ business community and citizenry have recommitted to renewing the state’s aging infrastructure, which will provide a wealth of construction and trades jobs in coming years. The state’s 2012 budget increases funding for its “Chapter 90 Local Road Program” to $200 million, an increase of $45 million over the current fiscal year. Capital outlay for municipalities will expand from $7.9 billion to a projected $11.5 billion. The state will continue supporting large-scale transportation projects, such as South Coast Rail, while enhancing existing platforms.

By investing in infrastructure — including broadband and WiFi — Massachusetts has created immediate employment opportunities and put the state on a growth trajectory. Just as important, the state has reduced its corporate tax rate from 8.75 percent in 2010 to a current rate of 8.25 percent. This is expected to save businesses statewide roughly $185.1 million over the fiscal year.

The state’s “Economic Development Incentive Program” (EDIP) allows participating companies to receive state and local tax incentives in exchange for job creation, manufacturing job retention and private investment commitments.

In conjunction, the “Massachusetts Investment Tax Credit” (ITC) offers a 3 percent credit for qualifying businesses meant to enable the purchase or lease of qualified properties.