For Immediate Release

House Sends Economic Stimulus Package to Governor’s Desk

(Boston) State Rep. John P. Fresolo (D-Worcester) today announced that the House of Representatives has sent a $458 million economic stimulus package aimed at promoting job creation to the Governor’s desk.

“This bill incorporates innovative and creative proposals to bring the entire Massachusetts economy into the 21st Century and promises to pave the way for business investment and job growth over the long term,” said Rep. Fresolo.

The House made job creation and economic development a top priority last spring when legislators conducted a statewide job growth listening tour to learn more about ways to improve the state’s business climate. The approved package addresses a number of ideas and concerns raised by the business community throughout the tour.

The legislation establishes a first-in-the-nation state sponsored Cultural Facilities Fund in recognition of the important role culture and tourism play in the state’s overall economy. The fund will award grants to non-profit cultural organizations and require recipients to raise private matching funds.  Over the next ten years, the state will invest $170 million to leverage private investments of upwards of $300 million and help create and maintain numerous jobs, support programming and enhance local communities across the Commonwealth.

Additionally, the package provides upwards of $80 million to boost life science research in Massachusetts, including the establishment of a new Life Sciences Center to coordinate all of the Commonwealth’s life sciences activities and oversee the creation of nanomanufacturing, bioprocessing and venture capital facilities at the University of Massachusetts campuses.

The legislation directs resources to small businesses, community development and workforce training education.  Among a myriad of other initiatives, it authorizes $2 million for small business technical assistance grants for companies with fewer than 20 employees and creates an $11 million Workforce Competitiveness Trust Fund to enhance worker skills, incomes, productivity and retention.

“These programs will give employers and employees alike the critical tools they need to compete in today’s knowledge-based, global economy,” said Rep. Fresolo.

The $100 million “Massachusetts Opportunity Relocation and Expansion Jobs Capital Program” will provide grants to local municipalities and private entities for economic development-related infrastructure improvements.  Eligible projects must either create and maintain for a minimum of five years 100 new permanent full time jobs in Massachusetts or document a “sufficiently exceptional” economic benefit to the Commonwealth.