State announces workspace grants for Gateway Cities
Entrepreneurs in the state’s Gateway Cities can now apply for up to $2 million in matching grants to support creation of collaborative workspaces that promote innovation, the Massachusetts Executive Office of Housing and Economic Development (EOHED) announced Wednesday.
The money will be issued through the Transformative Development Fund, which is part of the economic development bill Gov. Deval Patrick signed Aug. 13. The fund contains more than $16 million for the grants, which may be used for construction, renovation and equipment investment to establish collaborative workspaces, EOHED said. The fund will be managed by MassDevelopment, the state’s development and finance agency.
The grants are intended for both for-profit and nonprofit companies that will own, sponsor or operate collaborative workspaces that promote innovation, creativity and interaction among tenants, according to EOHED.
“These shared environments are hubs of economic activity, and are a very important part of our overall growth strategy,” EOHED Secretary Greg Bialecki said in a statement.
Gateway Cities are small- to mid-sized urban centers that have faced economic development challenges after their former industrial bases faded. In Central Massachusetts, they include Worcester, Fitchburg and Leominster.
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