MCIDC Business Financing Programs

JOB CREATION TAX CREDITS (JCTC)

Description: A $1,000-per-job tax credit to approved businesses that agree to create jobs in the Commonwealth within three years.

Eligibility: Approved businesses that agree to create new jobs in the Commonwealth within three years

Eligible Uses: Tax credits used to offset various business tax liabilities

Where to Apply:

• MCIDC office
• Single Application

Amounts:

• $1,000 per-job tax credit to approved businesses that agree to create jobs within three years
• 25% of the tax credits allocated each year must go to businesses with less than 100 employees

Terms/Conditions:

Tax credits may not be utilized by a business until the jobs are actually created; Must create at least 25 new jobs equaling at least 20% of the existing workforce.