Find Salem, Massachusetts economic development agencies, departments, and corporations. Economic development agencies provide information on resources for economic growth, expansion of local businesses, attracting new business and tourism.
Salem Economic Development Agencies (EDA's) are government agencies at the Massachusetts State, Essex County, or local level whose mission is to promote business activity and development, attract and retain business, facilitate development that increases employment and the tax base, and encourage an environment in which the economy can thrive in Salem, MA.You may contact the Economic Development Office for questions about:
Economic Development Agencies in Salem promote Massachusetts, Essex County, or community as a favorable location to do business. They usually work closely with Salem Chambers of Commerce and other business groups to market the region for business development. This collaboration often involves creating marketing materials, developing promotional advertising, and organizing Salem business expos.Small Business Support Programs
The Salem Economic Development Agency may include an office dedicated to supporting small businesses. The Salem government can support small businesses by providing ombudsmen services, helping small businesses work through licensing and Essex County permitting requirements, and raising awareness of bidding opportunities on government contracts.Land Development Programs in Salem, Massachusetts
Salem Economic Development Centers actively seek developers for undeveloped land or parcels in need of redevelopment. They market development opportunities, and in cases where obstacles to development exist, they may help identify gap funding or other solutions to impediments such as site contamination. Salem EDA's also maintain inventories of available commercial land and commercial building space in order to serve as a matchmaker for developers, landlords, and business owners.Salem Tax Incentives
Salem Economic Development Corporations sometimes offer tax incentives to businesses that expand or relocate within their jurisdiction. This strategy is particularly common at the Massachusetts State level, but it also takes place at the Essex County and local levels. Typically, the Economic Development Agency offers a Salem tax incentive or tax abatement based on the theory that the new or expanded business will generate job opportunities and thus increase the tax base.Economic Development Grants & Loans
Salem grants and non-traditional loans are also available through Economic Development Agencies. Common grants to businesses include Brownfield Redevelopment grants, facade improvement grants, and Salem public improvement grants. A variety of Salem loan programs may be accessible through an Economic Development Agency, often at below-market interest rates and with less stringent credit requirements than loans from traditional financing institutions.