Economic development bond authorizations set to enhance state as national leader; Friedman health care workforce amendment adopted
(BOSTON—7/11/2024) Today, Senator Cindy F. Friedman (D-Arlington) and her colleagues in the Massachusetts Senate unanimously passed a comprehensive economic development bill that makes bold investments in life sciences, climate tech, and small businesses, building on Massachusetts’ national leadership and creating an environment where businesses and workers thrive.
The $2.86 billion in bonds authorized in An Act Relative to strengthening Massachusetts’ economic leadership will stimulate new and proven industries, support workforce development and talent retention, and modernize economic growth strategies. The support in S.2586 extends to small businesses, communities, and cultural development, ensuring that main street businesses across the Commonwealth benefit from the economic boost.
“Our economic development legislation directs critical investment to the drivers of the Massachusetts economy, both present and future,” said Senator Friedman, Vice Chair of the Senate Committee on Ways and Means. “This bill provides increased support for our leading industries of climate technology and life sciences, while also paving the way for continued development of our artificial intelligence and advanced manufacturing industries, further elevating Massachusetts on the nationwide and global stage in economic competitiveness. The Senate recognizes the importance of increasing economic opportunity across the Commonwealth and through targeted investments this bill provides for the industries that help define our regions. I am especially grateful to see the inclusion of my amendment that would enter Massachusetts into the Nurse Licensure Compact, as this policy change will be a significant stabilizer for our health care workforce.… Read more.