ELM Statement on the Release of the Economic Development Bond Bill

Boston – March 4, 2024 – On Friday, March 1, Governor Maura Healey released an ambitious economic development bond bill poised to catalyze the climate tech industry and accelerate Massachusetts’ transition to a healthy, prosperous clean energy future. 

This legislation presents a first-of-its-kind opportunity to integrate climate and clean energy priorities into the Commonwealth’s strategy for economic growth. Fifteen years ago, Massachusetts made bold investments to win a leading position in the life sciences industry. Now, we can do the same for climate tech, boosting our economy while addressing the climate crisis. 

“This is a transformative opportunity to solidify Massachusetts as a global leader in climate tech,” said Casey Bowers, Executive Director of the Environmental League of Massachusetts Action Fund. “This legislation addresses our greatest threat, the climate crisis, and drives economic growth. We can make Massachusetts the best place to start, staff, and scale companies that solve environmental challenges. Our state now has the opportunity to strengthen our economy, build a broad and diverse climate workforce, and accelerate our transition to a clean energy future.” 

As we drive this work forward, ELM is focused on significantly increasing funding for the Massachusetts Clean Energy Center (MassCEC), driving the expansion of climate tech research and testing, and boosting tax incentives for startups. By doing so, we can attract and retain industry leaders and spur our state’s competitive growth. 

We commend the Healey Administration and look forward to working with the legislature to pass a bill with robust funding for climate tech.