BOSTON (WWLP) – There are billions of dollars in federal funding available that Massachusetts can apply for so what does our state need to do to be competitive?
The Biden Administration has made historic federal funding available, and Governor Healey wants to make sure the state is poised to compete for those funds. Thursday, Healey announced she was filing legislation to make sure that the state can stand up against other states when applying for federal funds.
They will do this by already having a plan and funding in place for when opportunities arise to strengthen the state’s competitiveness. There is currently $17.5 billion in federal funding available at the federal level. The legislation filed Thursday will create a Capital Investment and Debt reduction fund. That fund will make $800 million in additional state funding available over the next three years to pursue federal grants.
The fund will also use the interest earnings from the state rainy day fund, which is anticipated to make $250 million a year.
“Our goal has been as a team, to make this state more affordable, more competitive, and more equitable. Today’s announcement does just that, and it’s why today, we’re doubling down on our commitment to federal funds. We want Massachusetts to win, and win big,” Governor Healey said.
These efforts are building on the federal funds the state has already secured which includes $147 million to expand broadband access, and $108 million for track improvement between Springfield and Worcester. The governor also signed an executive order Thursday that establishes the office of Federal Funds and Infrastructure.