Massachusetts Development Finance Agency

Massachusetts Development Finance Agency is an economic development agency based in Boston, Massachusetts. MassDevelopment was formed in 1998 from a merger of the Government Land Bank and Massachusetts Industrial Finance Agency. The Massachusetts Health and Educational Facilities Authority was merged into MassDevelopment in 2010, strengthening the depth of offerings for tax-exempt bond financing of capital projects. The state's economic development and finance agency work with businesses, nonprofits, financial institutions and communities to stimulate economic growth across the Commonwealth. The agency mainly focuses on real estate development and finance, including specialty programs for Gateway Cities, brownfield, manufacturers, emerging technology companies, cultural facilities and others. The assets of the agency are managed by the Board of Directors.Massachusetts Development Finance Agency's investment portfolio is valued at $409.89 million, with investments in private equity, fixed income, international and domestic equity and cash.