Administration announces economic development plan

The Baker administration on Nov. 15 released an outline of its economic development plan for Massachusetts.
 
The plan does not include specific proposals, but focuses on seven policy priority areas: preparing communities for success, fostering a culture of innovation and entrepreneurship, advancing key clusters and industries, creating a balanced regulatory and business cost environment, expanding workforce development and talent retention, adopting housing policies that support economic growth, and improving transportation access.
 
In an effort to make good on its promise to reduce unnecessary business costs and attract investment, the Baker administration is in the midst of a comprehensive review of government regulations in order to make reforms that the administration says “will create a first-in-class business environment.”
 
The economic development plan says that reforming regulatory barriers to job creation and economic growth “will take place on an ongoing, continuous basis.”
 
The administration has held a series of public sessions held to solicit feedback on regulations. Attendees expressed concerns about site readiness and infrastructure, a lack of capacity in local governments, the volume and complexity of business and land use regulations, limited affordable housing stock, uncompetitive business costs, employers struggling to find and retain skilled workers, businesses challenged in accessing early-stage capital, and economic troubles in communities outside the Boston core.
 
The economic development plan calls for state partnerships with cities and towns, without the state dictating solutions, “to build strong, nimble, development-ready communities and regions.”
 
The draft plan is available at www.mass.gov/hed/economic-development-plan.pdf. Feedback may be sent to Adrian.Servetnick@massmail.state.ma.us by Dec. 3.
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