Saturday, December 7, 2024
[slide-anything id="12530"]
HomeMASSACHUSETTSBostonHealey-Driscoll Administration Launches New Tax Credit Program for Businesses that Hire National...

Healey-Driscoll Administration Launches New Tax Credit Program for Businesses that Hire National Guard Members

Program will provide businesses that hire active Massachusetts National Guard members with a $2,000 tax credit, will increase employment opportunities statewide

BOSTON – Press Release – On Veteran’s Day, the Healey-Driscoll Administration is announcing the launch of a new program through the Executive Office of Economic Development (EOED) and Department of Revenue to provide a $2,000 tax credit to Massachusetts businesses that hire active members of the Guard. The program aims to increase economic opportunities for members of the Guard and encourage more businesses to hire and retain them.

This initiative comes after the administration’s recent announcement of the expansion of the Veteran Hire Tax Credit, a $2,500 tax break awarded to small business owners that hire qualified veterans, and the launch of the Veterans’ Equity Dashboard, which provides a centralized, interactive database related to veterans in the Massachusetts’ labor market.

“Massachusetts is home to so many talented, dedicated service members, and there are employers across the state who want to hire them,” said Governor Maura Healey. “The National Guard Hiring Tax Credit Initiative will increase employment opportunities for our National Guard members and also encourage more businesses to hire and retain them by offering financial support. This is just the latest step in our administration’s efforts to support the economic wellbeing of our service members, veterans and small businesses.”

“We are addressing the employment roadblocks active service members face and expanding valuable job opportunities statewide,” said Lieutenant Governor Kim Driscoll. “The National Guard Hiring Tax Credit will incentivize businesses to hire skilled service members, empowering these businesses to grow and strengthening our local economies.”

The National Guard Hiring Tax Credit, provided through EOED’s Massachusetts Office of Business Development (MOBD), will support job security for Guard members who are often called away for military duties while also supporting employers that hire Guard members. The Legislature adopted this Tax Credit last session through comprehensive legislation supporting veteran’s and military families.

“The skills, discipline, and resilience of National Guard members make them invaluable to any employer,” said Veterans Services Secretary Jon Santiago. “Through the HERO Act and initiatives like this tax credit, we’re strengthening our workforce and reaffirming our commitment to those who serve, ensuring they receive support both in uniform and at home.”

“Active service members are critical contributors to our state economy, and we are excited to launch this new program to expand economic opportunity for these members of our community,” said Economic Development Secretary Yvonne Hao. “By supporting service member employment, this tax credit not only boosts our economy and supports job growth, but also strengthens Massachusetts as a leader in supporting our dedicated service members.”

 

“This tax credit is a meaningful investment in our National Guard members, expanding opportunities for them in the workforce while encouraging more businesses to recognize and leverage their unique skills and dedication,” said Public Safety and Security Secretary Terrence Reidy. “By supporting employers who hire active Guard members, we’re strengthening our local economies, honoring the service of these individuals, and building a more resilient workforce across Massachusetts.”

The program is available for businesses with 100 or fewer employees that hire and employ active members of the Massachusetts National Guard for at least six months. MOBD will begin accepting applications for 2024 starting Veteran’s Day, November 11, 2024, and then accept applications on an annual, rolling basis beginning January 1 of each year. Visit mass.gov/mobd for more information.

About the Massachusetts Office of Business Development

The Massachusetts Office of Business Development within the Executive Office of Economic Development assists businesses relocating to Massachusetts as well as businesses wishing to expand their current operations, with specific attention being paid to jobs created, jobs retained, and capital invested. Our team provides a highly responsive, central point of contact that facilitates access to resources, expertise, and incentive programs.

- Advertisment -[slide-anything id="12670"]

LES PLUS RECENTES