Governor Baker Signs $3.76 Billion Economic Development Bill

BOSTON — Governor Charlie Baker today signed a $3.76 billion spending plan that promotes economic development, strengthens health and human services, advances clean energy and resiliency, expands affordable housing production and invests in Massachusetts communities, businesses and workers. The legislation signed today includes funding for several proposals introduced by the Baker-Polito Administration in the FORWARD economic development bill filed in April and in multiple supplemental budget proposals, including the most recent proposal from August to close out Fiscal Year 2022 (FY22).  

“This legislation will make strategic investments in economic development, increase affordable housing production and support our health care system,” said Governor Charlie Baker. “We appreciate the Legislature’s efforts to pass this bill which is necessary to invest the Commonwealth’s significant state surplus and time-sensitive federal relief dollars. While I am disappointed that the bill does not include permanent tax relief that is affordable and was supported by our administration and the Legislature, I am pleased that the Commonwealth’s strong financial position allows us to make these critical investments on behalf of our communities.” 

“This bill addresses a wide range of needs across Massachusetts, from investing in long-term housing affordability to enabling transformational projects in hundreds of cities and towns,” said Lieutenant Governor Karyn Polito. "This funding will play a crucial role in the continued growth of local economies, businesses and families and we look forward to seeing it put to work."

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