ECONOMIC DEVELOPMENT INCENTIVES

Economic Opportunity Areas (EOA)

Within Holyoke there are three Economic Opportunity Areas (EOA): the Interstate 391 and High Street Gateway Economic Opportunity Area, the Suffolk-Dwight Economic Opportunity Area, and the Holyoke Citywide EOA.  The latter offers incentives to the entire City.  The program offers incentives to area businesses and prospective businesses to encourage private investment while stimulating job creation.

            EOA incentives include

• State Investment Tax Credit of 5%
• State Investment Tax Credit of 10%
  for Abandoned Buildings.
• Local Real Estate Property Tax Exemption Plan
• Clean Sites Initiative Program
• Holyoke Gas & Electric Department
• Utility discounts
• Manufacturers Loan Program
  (Below Market Rates)
• Facade Improvment Program
  (Matching Grants up to $20,000)
• Holyoke Foregin Trade Zaone #201

(For more information on the above please call the Office of Planning and Development 413-322-5655.)