The Small Business Toolbox describes programs and services that can be used to help you improve and grow your business. Each program summary provides an explanation of the program, eligibility requirements and contact information. Please call the Development Services Division if you have any questions or comments, at: 413.787.6565
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Owning your own business is part of the American Dream. The pursuit of that dream has made Springfield, Massachusetts, one of the fastest growing cities for entrepreneurship in the country. A rich history of invention, a strong entrepreneurial spirit, and a highly supportive network of civic organizations and area colleges make the Pioneer Valley a great place to launch your own business.
The Western New England College Law and Business School for Advancing Entrepreneurship has given both Law and Graduate Business students the opportunity to consult entrepreneurs starting new and building existing small businesses in the community. This partnership strengthens the school’s outward reach into the community and uses the combined resources of our School of Law and School of Business to foster new business development.
Bid opportunities with the City of Springfield are now advertised on the Commonwealth of Massachusetts’ online procurement system, CommPASS. Hosting and advertising the opportunities on CommPASS allows vendors to be exposed to city solicitations as well as opportunities for business with the state. If you are a vendor interested in doing business with the city and are not registered for CommPass already, please visit the Comm-PASS website and register your business.
Springfield has a number of different programs to help new and existing businesses grow. Below is information on some of the most useful programs. Also be sure to check out information on Business Assistance and Other Helpful Resources
Tax Increment Financing (TIF) and District Improvement Financing (DIF) are economic incentives that promote city redevelopment projects. Through TIF, developers can receive tax breaks, and also, developers can have monies allocated to redevelopment districts through DIF.
New Market Tax Credits - The NMTC program permits taxpayers to receive a credit against Federal income taxes for making qualified equity investments in designated Community development Entities.
Research & Development Tax Credit - Massachusetts has a permanent 10% and 15% research and development tax credit with generous carry-forward provisions.
Massachusetts Film Tax Credit - There is a state tax credit for filmmakers who wish to shoot films in Massachusetts. Springfield offers a more cost-effective alternative to Boston and also has advantages in location. For more information about the Film Tax Credit, click here.
Brownfields Reuse and Tax Abatement
The City of Springfield and the Commonwealth of Massachusetts want to ensure environmental soundness while engaging in robust economic activity. Brownfields, or properties deemed highly contaminated, posses economic potential but need to be cleaned up before being used. Through various brownfield redevelopment programs, the city can channel tax dollars to assist in the clean up of a brownfield.
Grow Springfield Fund
The Grow Springfield Fund is a unique economic development partnership between the City of Springfield and the National Development Council's Grow America fund.
New Businesses and Developments in Springfield
The City of Springfield is quickly attracting new investment. With a strong program of business support, a large pool of talented workers from which to draw from, and significant locational advantages, many businesses are choosing to locate and expand in Springfield.
These new businesses will expand the tax base in Springfield, allowing the City a greater opportunity to provide services and opportunities to make Springfield a better place to live and work.
New businesses and developments in Springfield:
Construction of the U.S. Federal Courthouse
New England Medical Center
Nuvo Bank -- Main Street
Performance Food Group
Springfield College Wellness Center
Stop and Shop
Springfield College Wellness Center / Field House
