Economic Development Incentive Program (EDIP)
The Economic Development Incentive Program (EDIP) is a tax-incentive program designed to foster job creation and stimulate business growth throughout the Commonwealth. Participating companies may receive state and local tax incentives in exchange for job creation, manufacturing job retention, and private investment commitments.
Tax Increment Financing (TIF)
In an effort to revitalize cities and towns in the Commonwealth and encourage sound growth and economic development, the legislature has authorized the creation of the Tax Increment Financing (TIF) Program. Based upon economic development and land use planning principles, cities and towns will designate appropriate locations as TIF Zones. Local designation of TIF Zones will enable municipalities to encourage private development with the assistance of public infrastructure improvements, and property tax incentives. These incentives will make available capital that will facilitate the financing of TIF Projects.
Please contact us if you are an Agawam-based business looking to expand or an out-of-town business looking to relocate.