BOSTON (AP) — Massachusetts residents who are struggling to find employment could soon benefit from a new economic development law that would invest millions of dollars in state grants, workforce training and a web portal for small businesses.
Democratic Gov. Deval Patrick signed the legislation into law Tuesday in at the Statehouse.
The law calls for a $50 million investment in the Scientific Technology Research and Development Matching Grant Fund, which will support research and development projects at businesses and universities, as well as $1 million for a "talent pipeline" that will provide matching grants to increase technology sector internships. Additionally, the law will invest $5 million in a Workforce Competitiveness Trust Fund, which will help prepare state residents for new jobs, improve housing affordability and address regulatory matters that interest businesses.
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