Economy

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Massachusetts budget officials announce $1.9 Billion FY 2022 surplus following tax refunds

Following the Department of Revenue’s release of June 2022 collections earlier today, the Executive Office for Administration and Finance announced that the Commonwealth will end Fiscal Year 2022 (FY22) with a $1.9 billion surplus, according to preliminary figures. This surplus accounts for $3 billion in automatic tax refunds required under …

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Massachusetts Baker-Polito administration files $1.7 Billion Fiscal Year 2022 supplemental budget

The Baker-Polito Administration today will file a Fiscal Year 2022 (FY22) supplemental budget that proposes investments in transportation, housing, environmental infrastructure, economic development, child care and education initiatives. The legislation includes approximately $1.7 billion in spending, supported by state tax revenues that exceed FY22 benchmarks through April by $4.23 billion …

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New Bedford’s Mayor Mitchell announces community development funding in draft action plan

Proposed Projects Include Renovations to Boys & Girls Club, West Beach Bathhouse. Mayor Jon Mitchell announced nearly $6 million in proposed funding allocations detailed in the City’s draft FY 2022 Housing & Community Development Action Plan, which is open for public comment. Proposed allocations include $480,000 for building renovations at …

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New Bedford requesting responses from nonprofit organizations interested in supporting small businesses

Mayor Jon Mitchell and City officials are requesting responses from local nonprofit organizations interested in supporting small businesses, by managing federal funds to provide targeted grants and technical assistance. The Small Business Assistance Program is the City’s fourth announcement of investments funded by the American Rescue Plan Act (ARPA), designed …

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