Code of Massachusetts Regulations › 402 CMR - ECONOMIC ASSISTANCE COORDINATING COUNCIL › Title 402 CMR 2.00 - Economic Development Incentive Program › Section 2.06 - Awards of EDIP Tax Credits for Certified Projects

Current through Register 1525, July 5, 2024
(1) The EACC may award to the Controlling
			 Business of a certified project, or to its affiliate, EDIP tax credits
			 available under M.G.L. c. 62, § 6(g) or M.G.L. c. 63, § 38N. The
			 amount of any such credits awarded, and the schedule on which such credits may
			 be claimed, shall be determined by the EACC, in its sole discretion, based on
			 the following criteria, weighted and balanced as the EACC shall determine
			 appropriate on a case-by-case basis:
(a) The
			 degree to which the certified project is expected to increase employment
			 opportunities for residents of the commonwealth, with consideration given to
			 the number of new full-time jobs to be created, the number of full-time
			 employees to be retained, the salary, benefits or other compensation that will
			 be paid to the employees, and the amount of new state income tax to be
			 generated;
(b) The timeframe within
			 which new jobs will be created and the commitment of the Controlling Business
			 for how long they will be maintained, with preference given to certified
			 projects in which a significant portion of the new jobs shall be created within
			 two years;
(c) The amount of
			 capital to be invested by the Controlling Business in the certified
			 project;
(d) The degree to which
			 the certified project is expected to generate net new economic activity within
			 the commonwealth by generating substantial sales from outside of the
			 commonwealth;
(e) The extent to
			 which the project is expected to contribute to the economic revitalization of a
			 Gateway municipality or increase employment opportunities to residents of a
			 Gateway municipality;
(f) The
			 economic need of the municipality or region in which the certified project is
			 located, as determined by income levels, employment levels, or educational
			 attainment level;
(g) The amount
			 and type of local support provided by the municipality in which the certified
			 project will be located;
(h) The
			 amount or timing of incentives, for which the Controlling Business provides
			 documentation, offered by an entity located outside the Commonwealth to
			 undertake the certified project in such foreign jurisdiction;
(i) Whether the Controlling Business has or
			 the certified project proposes to locate its headquarters in the
			 Commonwealth;
(j) The extent to
			 which the project supports the economic development priorities of the
			 Secretary;
(k) Whether the tax
			 credits the Controlling Business is requesting would be refundable under the
			 provisions of
			 402 CMR
			 2.06(3)  or would be applied
			 to the Controlling Business's ordinary income or corporate excise
			 tax;
(l) Commitments, if any, made
			 by the Controlling Business to use Massachusetts firms, suppliers and vendors,
			 or to retain women or minority-owned businesses, during the construction of the
			 certified project; and
(m) Whether
			 the Controlling Business has received an award of EDIP tax credits in the past,
			 and if applicable its compliance with past job creation requirements.