Massachusetts recovered from the recession faster than the rest of the country, but that recovery has only been felt in certain parts of the state. Others are getting left behind. This geographic divide has led to extreme regional income inequality.
What was the problem?
What is the solution?
Offer a tax credit for investors looking to fund high-tech small businesses in small and medium-sized cities across Massachusetts.
Senator Eric Lesser proposed legislation this year to offer a tax credit for investors looking to fund high-tech small businesses in small and medium-sized cities across Massachusetts. The tax credit would equal 10% of an
investor’s investment in a business. The business must be located in a Gateway City, or a economically challenged city with potential to anchor its regional economy, and must employ fewer than 225 people with 75% of its employees working in Massachusetts. This will encourage venture capitalists and other investors to look outside traditional tech centers like Cambridge and help entrepreneurs in other parts of the state get the resources they need to be successful.