MassDevelopment

MassDevelopment announced Thursday it has issued a $47.9-million tax-exempt bond to St. Mark’s School of Southborough to construct a residential dormitory.

State economic-development agency MassDevelopment – which provides financing solutions such as low-interest loans and tax credits to developers, businesses, nonprofits and communities – has been a major player in Worcester’s urban growth initiatives.

In Worcester Business Journal's annual list of the most influential people in the Central Massachusetts economy, the Power 50, one-third of those listed have ties to the manufacturing industry.

Several Central Massachusetts firms are among the recipients of nearly $4.5 million in grants from MassDevelopment aimed at enhancing the competitiveness of taxi and livery services in the face of the evolving for-hire transportation market.

MassDevelopment has issued a $16-million tax-exempt bond on behalf of the Hillside School in Marlborough to allow the school to build and equip two new 16-unit dormitories.

CIL Realty of Massachusetts has received a $20-million bond through MassDevelopment to be used to create 28 community residences for developmentally disabled individuals throughout Massachusetts.