Massachusetts lawmakers finally passed a nearly $4B economic development bill Thursday after a stalemate during the legislative session this summer.
The bill, which still needs to be signed by the governor, paves the way for new investment in life sciences and cleantech while unlocking waterfront land for a soccer stadium in Everett.
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The legislation was unveiled Tuesday after the state House and Senate struck a compromise more than three months after formal sessions ended without a finalized deal, The Boston Globe reported. The bill was nearly guaranteed to be approved in a lame-duck session.
Legislators faced immense pressure from the public and Gov. Maura Healey after they failed to approve a bill in August.
The approval of language regarding the soccer stadium was touted as a major win for The Kraft Group, the city of Everett and soccer fans who have been closely watching political maneuvers play out.
“This language paves the way for the public process to move forward on a project that will help my community clean up a power plant site that has been a health and environmental hazard for decades,” Senate Assistant Majority Leader Sal DiDomenico wrote on X Tuesday.
“This will result in hundreds of millions of dollars in private investment, cleanup of a hazardous waste site, the creation of good paying union jobs, and open our waterfront for the public to enjoy,” he added.
Robert Kraft has been searching for a new stadium to host the New England Revolution for years, banking that bringing the team closer to Boston would entice more fans. The team would move from Gillette Stadium, home of the New England Patriots.
One of the biggest concerns with allowing stadium plans to move forward was traffic coming in from Boston's Charlestown neighborhood. This was addressed in legislation language ensuring that Kraft would secure community impact agreements with Everett and Boston by the end of next year, the Globe reported.
Another provision of interest to commercial real estate extends building approvals and other permits by two years statewide, the Boston Business Journal reported. The extension would help developers extend runways to secure financing without having to fight for reapproval.
The legislature also approved $500M for life sciences investment over the next 10 years and $400M to the Massachusetts Clean Energy Center to support cleantech and climate tech, the BBJ reported.
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