In direct response to NAIOP’s advocacy and work convening a broad range of business and economic development groups over two legislative sessions, the final bill includes a language tripling the annual cap on the Housing Development Incentive Program from $10 million to $30 million, and a one-time $57 million allocation to clear out the almost-2,000 unit backlog of shovel ready housing projects in Gateway Cities across the Commonwealth. The bill also includes a NAIOP-supported $20 million increase in the Low-Income Housing Tax Credit, bringing the total annual allocation to $60 million.Read More
On August 9, 2023, Governor Healey signed the FY24 budget.
In direct response to NAIOP’s advocacy, the final budget includes a five-year extension of the Brownfields Tax Credit through January 1, 2029. Since the beginning of the session in January, NAIOP has worked with the Healey-Driscoll Administration, the Legislature, and a broad coalition of business groups and housing advocates to ensure the extension was considered for early passage.
Read on to learn about other investments found in the final FY24 budget.Read More
In the afternoon of July 31, the Massachusetts House of Representatives and Senate passed the final FY24 Budget.
In direct response to NAIOP’s advocacy, the final budget includes a five year extension of the Brownfields Tax Credit, which was previously set to expire on January 1, 2024. Since the beginning of the session in January, NAIOP has worked with the Healey-Driscoll Administration, the Legislature, and a broad coalition of business groups and housing advocates to ensure the extension was considered for early passage.Read More
Since the beginning of 2020, fear of a recession has kept economists and policymakers up at night. But even now, despite high interest rates, consumer spending is up, and many are asking – is this the recession we planned for? At a recent mid-year economic overview hosted by NAIOP Massachusetts, the experts dug into the data.Read More
In mid-May, the Boston Planning and Development Agency (BPDA) released an updated proposal for the City’s Inclusionary Development Policy (IDP).
Read on to learn more about NAIOP’s position on this policy; and for updates from the State House regarding the FY24 budget; tax reform; and Governor Healey’s new housing announcement.Read More
Climate change is an economic development, public health and environmental issue that affects every resident and business in the commonwealth. Bold action must be taken, along with critical short-term strategies that effectively balance our continued economic growth with our long-term decarbonization and environmental goals. Only this approach will ensure that Massachusetts is put on a responsible, achievable path to mitigate and manage the devastating effects of climate change.Read More
With a new gubernatorial administration comes new opportunities to shape the future of Massachusetts. As we look ahead to 2023, there is little doubt that it will be a difficult year for businesses. The incoming Healey-Driscoll administration must be a partner with the business community to ensure that safeguards are in place so the commonwealth can weather the economic storm. Only together can we work to secure the livelihoods and futures of Massachusetts’ residents and businesses.Read More
Rent Control Is Not the Answer to Our Housing Crisis Decades of Research Shows Its Harm By Tamara Small | This column originally appeared in Banker & Tradesman on September 11, 2022 In July, yet another report was issued highlighting the housing crisis in Massachusetts. The Housing Underproduction Report examined markets throughout the country and…Read More
By Tamara Small | This post originally appeared in Banker & Tradesman on April 3, 2022 The shortage of affordable and workforce housing is currently one of the greatest threats to the Massachusetts economy. With rents and home prices continuing to increase, we see more and more of the workforce priced out of the market…Read More
When communities invest in water infrastructure, they protect their residents, set up their local businesses for success and create future opportunities for economic investment – as demonstrated by MassBio’s BioReady evaluation. Such investments in Burlington led to 300 new apartment units in one mixed-use development; similar upgrades in Revere resulted in over 200 new units of housing.Read More