Massachusetts Governor Maura Healey has officially signed a comprehensive $4 billion economic development bill, known as the “Mass Leads Act,” which aims to bolster the state’s economy through significant investments in life sciences, artificial intelligence, and infrastructure projects. The legislation also includes provisions for the construction of a new professional soccer stadium in Everett and new regulations surrounding ticket resale practices.
The bill, which faced delays in negotiations before the July 31 session deadline, was finally approved by the House and Senate during a post-election formal session. It encompasses 319 pages of detailed policies designed to enhance Massachusetts’ economic landscape.
Among the notable provisions, the law introduces new rules for ticket resale that have drawn criticism from consumer advocacy groups such as the Massachusetts Public Interest Research Group and the National Consumers League. These organizations argue that the regulations could reinforce Live Nation Entertainment’s dominance in the live event market. Key aspects of the ticket resale provisions include mandatory price disclosures for online sellers and a ban on automated ticket-purchasing software. Additionally, sellers can impose restrictions on ticket transferability, provided these limitations are clearly communicated to consumers.
The bill also facilitates the development of a new soccer stadium for the New England Revolution by removing a 43-acre site from its designated port area, allowing for its redevelopment. The site, previously home to an old power plant, will undergo cleanup efforts to prepare for stadium construction across from Encore Boston Harbor.
The economic development package allocates substantial funding across various sectors, including:
- $500 million over ten years to expand tax credits for the life sciences industry.
- $400 million in tax incentives aimed at promoting climatetech initiatives.
- $100 million dedicated to attracting talent in artificial intelligence.
In her signing letter, Governor Healey emphasized that these investments would position Massachusetts as a leader in climatetech, mirroring its success in life sciences. “Together, these provisions will help us establish global prominence in climatetech while supporting our local companies in addressing the climate crisis,” she stated.
Additional funding includes $400 million for the MassWorks public infrastructure program and $250 million for the Mass Impact Fund. The legislation also creates new programs such as a $40 million Destination Development Grant Program aimed at enhancing tourism and $50 million for the Cultural Facilities Fund. Furthermore, a new live theater tax credit will support local and regional theater industries.
While Governor Healey returned certain sections of the bill concerning motor vehicle liability insurance limits for amendment—specifying that new minimums would take effect on July 1, 2025—she expressed her commitment to enhancing protections for Massachusetts residents.
“This legislation will create new jobs, strengthen our efforts to recruit and retain top talent, support all our communities, and grow our arts, culture, and tourism sectors,” Healey remarked. “We are grateful for our partnership with the Legislature and proud to deliver these critical investments to the people and businesses of Massachusetts.”
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