Massachusetts’ Economic Development Plan Should Be a National Model, Writes Two Leading Business Magazines

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(Caption: Governor Deval Patrick)

Massachusetts’ $80 million economic plan, signed into law by Governor Deval Patrick on August 13, 2014, is getting glowing reviews from two leading business publications, Inc. Magazine and Fortune Magazine.

“Massachusetts’ economic development plan is one that other states may want to pay attention to,” writes Inc. Magazine‘s Jeremy Quittner, in “Why Massachusetts’ Plans for Economic Development Could (and Should) Blaze a Trail for Other States.” Quittner describes the state’s plan to “bolster job training in the state’s high-growth industries, provide capital to its start-ups, and support business communities outside of the traditional business thoroughfares of Boston and Cambridge.”

The Massachusetts plan, outlined in The Act to Promote Economic Growth in the Commonwealth “provides new tools and training to ensure the Massachusetts workforce meets the needs of employers, invests in our Gateway Cities to promote development across the entire state and provides incentives to create jobs and stimulate the economy,” reads a statement from the Governor’s Office.

Greg Bialecki, Secretary of Housing and Economic Development, says that the bill “provides significant new support for the Commonwealth’s economic development strategy. Ensuring the long-term economic prosperity of the Commonwealth means extending growth and opportunity to every corner of the state.”

The Inc. Magazine story comes on the heels of an article in Fortune Magazine published last week and written by Karen Mills, former Administrator of the U.S. Small Business Administration and Senior Fellow at Harvard Business School. In, “How U.S. States Can Get Small Businesses Growing (Again),” Mills writes that “Massachusetts has created a model based on public-private partnership, a promising blueprint other states should follow.” She praises Massachusetts for “taking parts of the playbook for jobs and driving solutions that make sense.”

Massachusetts’ ongoing economic development strategy focuses on the state’s long-term investments in education, innovation and infrastructure, and is outlined in the document, “Choosing to Compete in the 21st Century.”