Mass. launches tax incentive for businesses hiring National Guard members
Photo | Edd Cote
Workers at Veterans Inc. in Worcester
Massachusetts businesses hiring members of the National Guard will now receive a $2,000 tax credit as part of the state’s initiative to expand economic opportunities for those serving in the military.
Provided through the Massachusetts Executive Office of Economic Development and Department of Revenue, the National Guard Hiring Tax Credit Initiative is available for businesses with 100 employees or fewer that hire and retain active members of the Massachusetts National Guard for a minimum of six months, according to a Monday press release from the Office of Gov. Maura Healey, the EOED, and the Executive Office of Veterans Services.
“The skills, discipline, and resilience of National Guard members make them invaluable to any employer,” Secretary of the EOVS Jon Santiago said in the release. “Through the HERO Act and initiatives like this tax credit, we’re strengthening our workforce and reaffirming our commitment to those who serve, ensuring they receive support both in uniform and at home.”
The tax credit initiative is the latest effort of the Healey Administration to promote job opportunities for service members through business incentives. The state also offers its Veteran Hire Tax Credit, affording $2,500 tax breaks to small businesses that employ qualified veterans, and the Veterans’ Equity Dashboard, a database detailing Massachusetts veteran labor market information, according to the release.
Applications for the incentive opened Monday and will be accepted on an annual, rolling basis starting on Jan 1.
“We are addressing the employment roadblocks active service members face and expanding valuable job opportunities statewide,” Lieutenant Gov. Kim Driscoll said in the release. “The National Guard Hiring Tax Credit will incentivize businesses to hire skilled service members, empowering these businesses to grow and strengthening our local economies.”
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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