Governor Ned Lamont and the Connecticut Department of Economic and Community Development (DECD) Commissioner Daniel O’Keefe announced the launch of a $25 million state grant program to help supply chain companies in Connecticut’s core industries expand and increase production capacity and encourage the establishment of new operations in the state. Administered by DECD, the Strategic Supply […]
Massachusetts- Energizes Clean Tech with $700 Million in New Incentives
Massachusetts Governor Maura Healey signed the Mass Leads Act in December 2024. Climate tech provisions are part of $4 Billion Mass Leads Act. Key elements of the Mass Leads Act include: $300 Million in Tax Credits over 10 years to employers growing research, development, innovation, manufacturing, deployment and commercialization in the climate-tech sector. $200 Million […]
California- Proposed Balance Budget, Finance New Priorities-Tax Incentives for the Film Industry
After two years of budget deficits, California Gov. Gavin Newsom proposed a $322.5 billion balanced budget. However, his plan would pull from rainy day funds to finance new priorities including tax incentives for the film industry. The state’s fiscal outlook has stabilized due to rising tax collections. While the state faced several years of deficits, […]
Texas Incentive Tool for Economic Development Revitalized
On June 7, 2023, Texas Governor Greg Abbott signed legislation (HB 5) revitalizing Texas’s primary incentive tool for economic development. The new legislation replaces the expired Chapter 313 program, which provided property tax incentives for companies that agree to expand and create jobs in specific locations. The revised program will similarly offer property tax incentives to attract business […]
Illinois New Economic Development Incentives
Illinois recently passed major new economic development legislation that is set to boost the state’s economic competitiveness. The incentives, signed into law by Governor JB Pritzker on February 3, provide stronger financial assistance for businesses to relocate to or expand in the state, and makes it easier for them to qualify for existing programs, particularly […]