Supporting Economic Development

As a member of the Joint Committee on Ways and Means, House Post Audit and Oversight Committee and Municipalities Committee, Rep. Stanley is focused on creating a stronger economy though smart investments.  As an experienced leader, Rep. Stanley knows that strong local economies allow municipal governments to provide the best services and opportunities to all residents. High quality police, fire, schools, libraries and other public services all cost money, and a thriving business community creates jobs for our neighbors and shifts more of the tax burden away from home owners. As state representative, Rep. Stanley has supported smart economic development and job creation initiatives.

Below are examples of economic development investments supported by Rep. Stanley in the fiscal year 2017 state budget.

John Adams Innovation Institute (7002-0032): Provides $500,000 for the John Adams Innovation Institute Fund at the Massachusetts Technology Collaborative (MTC), which supports MTC’s technology and innovation initiatives.

Urban Agenda Economic Development Grant Program (7002-0036):  Provides $3 million for the Urban Agenda Economic Development Grant Program to promote small businesses, job growth and workforce development initiatives in urban communities. The program seeks to advance employment and economic opportunity in urban neighborhoods across Massachusetts.

Massachusetts Growth Capital Corporation (7002-0040): Provides $2 million to the Massachusetts Growth Capital Corporation for their small business technical assistance grant program, which provides competitive grants to businesses with 20 employees or fewer for targeted training and technical assistance.

Transformative Development Fund (7002-1502): Provides $1 million for residential, commercial, industrial and institutional development in Gateway Cities. Administered by MassDevelopment, the Fund is organized around three distinct programs: (1) a Technical Assistance Program, which awards grants to Gateway Cities to pay for third-party professional services managed by MassDevelopment; (2) a Fellows Program, which places professional staff in Gateway Cities to assist them with development projects; and (3) an Equity Investment Program, which authorizes MassDevelopment to make equity investments in real estate within Gateway Cities.

Working Cities Challenge (7002-1506): Provides $500,000 for the Working Cities Challenge, which builds on a new program run by the Federal Reserve Bank of Boston. Requiring a dollar-for-dollar funding match from private sector contributions, the program will support grants and technical assistance for Massachusetts cities in an effort to strengthen local economies.

Start-up Mentoring and Talent Pipeline Program (7002-1508): Provides $1.5 million to support two programs run by the Massachusetts Technology Collaborative. The Start-Up Mentoring Program connects early-stage entrepreneurs, technology start-ups, and small businesses with successful, experienced firms and capital financing. The Talent Pipeline Program supports stipends for interns at technology and innovation start-ups through dollar- for-dollar private matches.

Global Entrepreneur Program (7002-1509): Provides $100,000 for the operation of a pilot program which offers exceptionally talented international students the opportunity to remain in Massachusetts while developing a new business venture.

Big Data Innovation and Workforce Fund (7002-1512): Provides $2 million for the Big Data Innovation and Workforce Fund, which promotes the use of big data, open data and analytics, as well as helps connect the public and private sectors to prepare the Massachusetts workforce for big data careers.