MassDevelopment

**MassDevelopment is the Commonwealth of Massachusetts' development finance agency and land bank** We partner with businesses, nonprofits, financial institutions, and communities to help Massachusetts grow and thrive. We are committed to achieving three core goals: stimulating business, driving economic growth, and strengthening communities across the state. Our team delivers a wide range of flexible financing and technical assistance solutions, including loans, tax-exempt bonds, grants, real estate services, and other resources tailored to meet local and statewide needs. MassDevelopment was [formed in 1998](https://malegislature.gov/Laws/GeneralLaws/PartI/TitleII/Chapter23G) through the merger of the Massachusetts Government Land Bank and the Massachusetts Industrial Finance Agency. In 2010, the Massachusetts Health and Educational Facilities Authority [joined](https://malegislature.gov/Laws/SessionLaws/Acts/2010/Chapter240) MassDevelopment, expanding the agency’s capacity to support capital projects through tax-exempt bond financing. Most recently, in 2025, the Massachusetts Growth Capital Corporation [merged](https://www.massdevelopment.com/news/executive-office-of-economic-development-finalizes-merger-of-quasi-government-economic-development-agencies/) into MassDevelopment, enhancing our ability to support small businesses through alternative funding, targeted resources, and individualized technical assistance. During fiscal year 2025, MassDevelopment financed or managed 409 projects that generated more than $4.65 billion in investment across the Massachusetts economy. These projects are estimated to create or support 25,246 jobs and build or preserve 2,867 housing units statewide.