Executive Office Economic Development - Boston, MA

Executive Office of Economic Development (EOED)

Driving Business and Innovation

The Executive Office of Economic Development (EOED), headquartered at 1 Ashburton Place in Boston, is the principal state agency responsible for fostering economic growth and opportunity across Massachusetts. Formerly part of the Executive Office of Housing and Economic Development, the EOED was established as a distinct secretariat in 2023 to sharpen the state's focus on business competitiveness. The office's mission is to create vibrant communities, support growing businesses, and ensure a strong pathway to the middle class for residents. It oversees a wide range of agencies and programs designed to stimulate the economy, from small business assistance to international trade.

Strategic Pillars and Programs

The EOED operates through specialized pillars to address different aspects of the economy. Economic Foundations focuses on regional development, infrastructure, and support for small businesses, administering programs like the MassWorks Infrastructure Program. Economic Strategies targets high-growth sectors such as life sciences, advanced manufacturing, and tourism, ensuring Massachusetts remains a global leader in innovation. The office also works to coordinate workforce development initiatives to align labor skills with industry needs. Through the Massachusetts Office of Business Development (MOBD), it provides direct support to companies looking to expand or relocate within the Commonwealth.

Regulatory Oversight

In addition to development, the EOED includes the Office of Consumer Affairs and Business Regulation (OCABR), which oversees essential regulatory agencies like the Division of Banks and the Division of Insurance. This dual role ensures that while the state promotes business growth, it also maintains a fair and stable marketplace for consumers. The office at Ashburton Place serves as the administrative command center for these initiatives, working closely with the Governor's office and legislative leaders to implement economic policy.

• Goal: Job creation and business competitiveness.
• Programs: Community One Stop for Growth, MassWorks.
• Oversight: Business regulation and consumer protection.

The EOED is the architect of the state's economic strategy, dedicated to ensuring that Massachusetts remains an attractive place to live, work, and do business.