MTC - Business Expansion Initiative (Massachusetts)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Massachusetts

Name MTC - Business Expansion Initiative
Incentive Type Industry Recruitment/Support
Applicable Sector Commercial, Industrial
Eligible Technologies Solar Thermal Electric, Photovoltaics, Wind, Biomass, Hydroelectric, Tidal Energy, Wave Energy, Ocean Thermal, Fuel Cells using Renewable Fuels, Power Inverters, Power Controls, etc.
Active Incentive No

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount 500,000 to 3,000,000 per company







Start Date 2007-05-31







Maximum Incentive Up to 50% of capital expenses and related spending over a 24-month window; at most 75% of funding may come from public sources, including equity, debt or grant









Terms Per co-lender interest rate, with allowable discounts on MTC portion for number of employees to be hired and amount of investment made in the state. Up to 10-year amortization (seven years or less preferred), with flexibility in amortization schedule.
Program Administrator Massachusetts Technology Collaborative
Website http://www.masstech.org/renewableenergy/BEI/index.html
Date added to DSIRE 2007-06-05
Last DSIRE Review 2009-07-07



References DSIRE[1]


Summary

The Massachusetts Technology Collaborative (MTC), as administrator of the state's Renewable Energy Trust Fund, offers loans to support renewable energy companies entering or expanding within the manufacturing stage of commercial development. Companies that currently, or plan to, manufacture renewable energy technology products in Massachusetts are generally eligible. Products may be new or existing, or a combination of the two.

Interested applicants must submit a pre-application prior to submitting a full application. Pre-applications will be accepted on an ongoing basis. If the MTC determines that an applicant is eligible for funding after this threshold review, a full application will be requested. See the program web site and solicitation above for more information.


Authorities (Please contact the if there are any file problems.)

Authority 1: Business Expansion Initiative Solicitation (No. 2007-BEI-01)
Date Effective 2007-05-31



















Incentive Contact

Contact Name Ian Springsteel
Department Massachusetts Technology Collaborative
Division Renewable Energy Trust
Address 75 North Drive

Place Westborough, Massachusetts
Zip/Postal Code 01581
Phone (508) 870-0312 Ext:255


Email BEI@masstech.org
Website http://www.masstech.org
     
     

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"