Financial Incentives


Overview

This page will offer information and web site links for greater detail on state level incentives and services. The first paragraph below details the City's single tax rate which is one rate for residential and business. Northampton's  municipal rate is one of the lowest in Massachusetts.  The second paragraph offers information and contacts for the state level economic development agencies which are the Massachusetts Office of Business Development and MassDevelopment.  The third paragraph offers explanatory information on how to access state level incentives and how approvals for those incentives entail obtaining a local property tax reduction in order to complement and support the issuance of the state level incentives. 

Single City Tax Rate with No Commercial Rate


Northampton is one of the few larger communities in Western Massachusetts that offers a single tax rate for commercial and residential real estate. This keeps our commercial tax rate lower than many communities our size or larger.  In many municipalities, their commercial tax rate may be as much as 35% to 40% above the residential rate. 

State Level Incentives with the Commonwealth of Massachusetts 

Information and links on business development financial incentives available from the Commonwealth of Massachusetts and Mass Development. These include tax incentives, training funds, brownfields financing, job creation, job training grants and/or assistance, business development financing, and more.

Contacts for Massachusetts Economic Development and MassDevelopment    
Debra A. Boronski, Regional Director, Western Massachusetts
Massachusetts Office of Business Development
 (413) 733-5357  debra.boronski@state.ma.us
Julie A. Cowan, Vice President, Business Development
MassDevelopment
(413) 731-8838 Ext. 1359  jcowan@massdevelopment.com

Economic Development Incentive Program


Part of the process for obtaining state level incentives is working with the City in receiving a property tax incentive, often termed a TIF, or Tax Increment Financing. The state's Economic Development Incentive Program (EDIP) and Northampton's Tax Increment Financing program work in tandem to deliver the incentives to help a business grow.  A guide to this process is listed below.