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Inflation Adjustment
  • CPI: adjusts for changes in the cost of goods and services purchased by consumers
  • IPD: adjusts for changes in the cost of goods and services purchased by governments
  • Economic Growth: adjusts for changes in the size of the state economy (measured in terms of total personal income)
  • None: does not capture changes in the value of a dollar over time.
Economic Development

funding levels adjusted for inflation (CPI)

  • Funding History
Adjusted for inflation (CPI) NOT adjusted
FY24 GAA$371,995,684$371,995,684
FY23 Current$672,907,606$633,324,654
FY22$402,418,376$363,567,991
FY21$413,227,740$348,377,357
FY20$279,011,199$229,960,470
FY19$226,337,600$183,644,536
FY18$179,004,542$142,289,823
FY17$163,270,482$126,937,368
FY16$196,207,315$149,758,534
FY15$202,753,719$153,733,740
FY14$236,326,641$177,916,666
FY13$154,662,167$114,652,269
FY12$204,093,797$148,788,629
FY11$135,979,790$96,303,818
FY10$151,871,945$105,466,788
FY09$200,053,859$137,572,431
FY08$247,466,896$167,826,896
FY07$604,185,539$395,089,313
FY06$306,804,969$195,544,062
FY05$174,618,653$107,243,052
FY04$198,541,442$118,378,636
FY03$255,665,717$149,148,560
FY02$293,899,596$167,757,499
FY01$377,518,739$211,737,839

comparisons adjusted for inflation (CPI)

  • See Changes in Funding
Between and
Funding for Economic Development
171.9%

comparisons adjusted for inflation (CPI)

Adjusted for inflation (CPI) NOT adjusted
FY24 GAA$371,995,684$371,995,684
FY24 Leg$388,095,684$388,095,684
FY24 Sen$346,540,182$346,540,182
FY24 SWM$330,428,182$330,428,182
FY24 Hou$424,411,002$424,411,002
FY24 HWM$397,878,002$397,878,002
FY24 Gov$343,466,485$343,466,485
FY23 Current$672,907,606$633,324,654
FY23 GAA$408,412,378$384,388,029
FY23 SWM$312,643,843$294,252,958
FY23 Hou$351,043,663$330,393,957
FY23 HWM$330,790,283$311,331,957
FY23 Gov$271,352,119$255,390,169
FY22 GAA$359,857,388$325,115,937

funding levels adjusted for inflation (CPI)

  • Active Line Items
  • All Line Items
FY23 CurrentFY24 GovFY24 HouFY24 SenFY24 GAA
Massachusetts Cultural Council$24,838,068$25,000,000$25,895,000$25,000,000$25,895,000
Educational Rewards Grant Program$0$65,968,000$91,410,176$65,968,000$65,968,000
Commonwealth Information Technology Initiative$0$200,000$200,000$0$200,000
District Local Technical Assistance Fund$0$10,000,000$17,000,000$20,000,000$10,000,000
Workforce Competitiveness Trust Fund$18,062,504$0$0$0$0
Commonwealth Infrastructure Investment Assistance Reserve$13,812,503$13,000,000$13,000,000$13,000,000$13,000,000
Broadband Equity$26,562,506$0$0$0$0
Career and Workforce Development System Assessment$531,250$0$0$0$0
Local Public Service Needs$46,918,949$0$0$0$0
Local Economic Development Projects$91,980,647$0$0$0$0
Economic Development$80,739,759$0$0$0$0
Supplier Diversity Office$4,713,795$3,979,905$3,979,904$3,979,905$3,979,904
Department of Agricultural Resources Administration$11,410,753$11,068,149$11,444,229$11,826,576$12,609,576
Cannabis and Hemp Oversight$1,041,002$979,766$979,766$964,267$979,766
Executive Office of Housing and Economic Development$4,763,428$3,982,085$4,864,084$4,657,085$5,807,085
Summer Jobs Program for At Risk Youth (YouthWorks)$30,254,695$16,240,000$31,100,000$16,390,000$16,240,000
Housing and Economic Development IT Costs$4,847,410$3,954,306$3,954,306$3,954,306$3,954,306
Workforce Development Grant$2,656,251$2,500,000$2,500,000$3,000,000$3,000,000
Mass. Life Sciences Center$0$10,000,000$10,000,000$0$0
Community Action Grants$7,968,752$0$7,625,000$0$7,675,000
Innovation Institute$2,656,251$2,500,000$0$2,500,000$2,500,000
Urban Agenda Economic Development Grants$2,762,501$3,000,000$2,535,000$0$2,535,000
Small Business Technical Assistance Grant Program$34,159,383$7,500,000$30,200,000$7,500,000$5,200,000
Learn to Earn$1,062,500$300,000$300,000$300,000$300,000
Career Technical Institutes$21,680,125$15,379,600$20,404,819$15,379,600$15,379,600
Transformative Development Fund$1,115,625$250,000$1,000,000$250,000$1,000,000
Massachusetts Cybersecurity Innovation Fund$2,603,126$950,000$0$2,450,000$2,450,000
Mass. Tech. Collaborative Tech and Innovation Entrepreneurs$1,434,375$1,350,000$0$1,350,000$1,350,000
Center for Advanced Manufacturing$1,275,000$1,200,000$0$1,200,000$1,200,000
Massachusetts Downtown Initiative$0$600,000$0$600,000$600,000
MA Technology Transfer Center$0$400,000$0$400,000$400,000
Community Empowerment and Reinvestment Grant Program$21,250,005$7,500,000$0$15,000,000$15,000,000
Community Foundation Grants$7,968,752$0$0$5,000,000$5,000,000
Executive Office of Labor and Workforce Development$2,830,147$1,656,126$2,436,126$2,731,126$3,311,126
Labor and Workforce Development Shared Services$28,732,106$18,576,380$18,576,380$18,574,375$18,576,380
Department of Economic Research$637,500$850,889$850,889$850,889$850,889
Demonstration Workforce Dev Program$3,984,376$2,500,000$4,750,000$2,500,000$2,750,000
Registered Apprenticeship Expansion$1,062,500$4,979,285$4,979,286$2,817,398$3,817,398
Department of Labor Standards$4,465,163$4,230,506$4,230,506$4,230,506$4,230,506
Asbestos Deleading EA Services$452,115$435,767$435,767$435,767$435,767
Department of Industrial Accidents$20,882,049$19,834,322$19,834,322$19,834,323$19,834,322
Massachusetts Manufacturing Extension Partnership$2,125,001$2,000,000$2,000,000$2,000,000$2,000,000
Health Care Worker Training$1,062,500$1,000,000$1,000,000$1,000,000$1,000,000
MassHire Department of Career Services$2,194,042$2,221,183$2,221,183$2,221,183$2,221,183
One Stop Career Centers$15,937,504$5,960,051$15,050,000$5,960,051$6,010,051
Department of Labor Relations$3,046,389$3,149,012$3,149,013$3,149,012$3,149,012
Joint Labor Management Committee for Municipal Police and Fire$318,750$291,433$291,433$300,000$300,000
Massachusetts Service Alliance$2,337,501$1,400,000$1,680,000$2,200,000$2,280,000
AFL-CIO Workforce Development Programs$159,375$150,000$150,000$150,000$150,000
Office of Consumer Affairs and Business Regulation$1,518,871$1,451,485$1,451,486$1,451,486$1,451,486
Regional Economic Development Grants$3,506,251$1,000,000$1,000,000$2,000,000$2,000,000
Massachusetts Office of Business Development$2,487,645$1,208,383$1,208,383$1,358,383$1,358,383
Biotechnology Research Institute$796,875$750,000$750,000$0$750,000
Small Business Development Center at UMass$1,515,361$1,426,222$1,426,222$1,426,222$1,426,222
Microlending$2,975,001$1,800,000$1,300,000$1,800,000$1,800,000
Commonwealth Zoological Corporation$7,543,752$4,000,000$6,750,000$7,100,000$7,250,000
Massachusetts Office of Travel and Tourism$15,775,925$3,271,019$6,269,019$2,184,019$6,869,019
Local Tourist Councils Financial Assistance$6,375,002$0$0$0$0
Local Economic Development Projects$19,355,036$0$16,800,000$12,167,000$28,522,000
Massachusetts International Trade Council$129,916$128,703$128,703$128,703$128,703
Massachusetts Cultural and Performing Arts Mitigation Trust Fund$4,616,112$4,344,575$0$0$0
Race Horse Development Fund$18,675,615$17,577,045$0$0$0
Mass. Tourism Trust Fund$2,308,056$2,172,288$0$0$0
Workforce Training Trust Fund$26,031,256$27,300,000$27,300,000$27,300,000$27,300,000
FY23 CurrentFY24 GovFY24 HouFY24 SenFY24 GAA
Massachusetts Cultural Council$24,838,068$25,000,000$25,895,000$25,000,000$25,895,000
Cultural Resources Act$0$0$0$0$0
John and Abigail Adams Arts Program$0$0$0$0$0
Mass. Development Finance Agency$0$0$0$0$0
Mass Development Small Business Loan Reserve$0$0$0$0$0
Economic Stimulus Trust Fund$0$0$0$0$0
Capital Needs Investment Trust$0$0$0$0$0
Educational Rewards Grant Program$0$65,968,000$91,410,176$65,968,000$65,968,000
Commonwealth Information Technology Initiative$0$200,000$200,000$0$200,000
Board of Higher Education Scholar-Internship Match$0$0$0$0$0
Workforce Competitiveness Trust Fund$0$0$0$0$0
District Local Technical Assistance Fund$0$10,000,000$17,000,000$20,000,000$10,000,000
Workforce Competitiveness Trust Fund$18,062,504$0$0$0$0
Mass. Life Sciences Investment Fund$0$0$0$0$0
Infrastructure Development Fund$0$0$0$0$0
Mass. Cultural Facilities Fund$0$0$0$0$0
Mass. Technology Transfer Center$0$0$0$0$0
Dept. of Business and Technology Grants$0$0$0$0$0
Historical Preservation Grants$0$0$0$0$0
Dairy Farmer Reserve$0$0$0$0$0
Mass. Port Authority Tourism$0$0$0$0$0
Commonwealth Infrastructure Investment Assistance Reserve$13,812,503$13,000,000$13,000,000$13,000,000$13,000,000
District Local Technical Assistance Fund$0$0$0$0$0
Historic Preservation Reserve$0$0$0$0$0
Mass. High Tech Council Grant$0$0$0$0$0
Mass. Defense Technology Institute$0$0$0$0$0
Broadband Equity$26,562,506$0$0$0$0
Career and Workforce Development System Assessment$531,250$0$0$0$0
Local Public Service Needs$46,918,949$0$0$0$0
Local Economic Development Projects$91,980,647$0$0$0$0
Economic Development$80,739,759$0$0$0$0
MassPort Tourism$0$0$0$0$0
Supplier Diversity Office$0$0$0$0$0
Supplier Diversity Office$4,713,795$3,979,905$3,979,904$3,979,905$3,979,904
Commonwealth Zoological Corporation$0$0$0$0$0
Commonwealth Zoological Corporation$0$0$0$0$0
Commonwealth Zoological Corporation$0$0$0$0$0
Department of Agricultural Resources Administration$11,410,753$11,068,149$11,444,229$11,826,576$12,609,576
Cannabis and Hemp Oversight$1,041,002$979,766$979,766$964,267$979,766
Agricultural Innovation Center$0$0$0$0$0
Aquaculture Development$0$0$0$0$0
Commonwealth Zoological Corporation$0$0$0$0$0
Department of Labor$0$0$0$0$0
Executive Office of Housing and Economic Development$4,763,428$3,982,085$4,864,084$4,657,085$5,807,085
Summer Jobs Program for At Risk Youth (YouthWorks)$30,254,695$16,240,000$31,100,000$16,390,000$16,240,000
Permitting Technical Grants$0$0$0$0$0
Housing and Economic Development IT Costs$4,847,410$3,954,306$3,954,306$3,954,306$3,954,306
Workforce Development Grant$2,656,251$2,500,000$2,500,000$3,000,000$3,000,000
Local Capital Projects Program$0$0$0$0$0
Advanced Manufacturing Futures Program$0$0$0$0$0
Mass. Life Sciences Center$0$10,000,000$10,000,000$0$0
Community Action Grants$7,968,752$0$7,625,000$0$7,675,000
Manufacturing College$0$0$0$0$0
Innovation Institute$2,656,251$2,500,000$0$2,500,000$2,500,000
International Trade$0$0$0$0$0
Military Base Promotion$0$0$0$0$0
Urban Agenda Economic Development Grants$2,762,501$3,000,000$2,535,000$0$2,535,000
Community Compact Grants$0$0$0$0$0
Small Business Technical Assistance Grant Program$34,159,383$7,500,000$30,200,000$7,500,000$5,200,000
Wireless Broadband Affairs Director$0$0$0$0$0
Executive Office of Labor and Workforce Development$0$0$0$0$0
Apprentice Training Program$0$0$0$0$0
Labor and Workforce Development Information Technology$0$0$0$0$0
Division of Occupational Safety$0$0$0$0$0
Asbestos Abatement and Deleading Services Retained Revenue$0$0$0$0$0
Occupational Hygiene Program$0$0$0$0$0
Division of Industrial Accidents$0$0$0$0$0
Labor Relations Commission$0$0$0$0$0
Joint Labor-Management Committee$0$0$0$0$0
Board of Conciliation and Arbitration$0$0$0$0$0
Division of Labor Relations$0$0$0$0$0
Arbitration and Mediation Retained Revenue$0$0$0$0$0
Workforce Competitiveness Trust Fund$0$0$0$0$0
Learn to Earn$1,062,500$300,000$300,000$300,000$300,000
Career Technical Institutes$21,680,125$15,379,600$20,404,819$15,379,600$15,379,600
Downtown Regional Grant Program$0$0$0$0$0
MassVentures Operations$0$0$0$0$0
Transformative Development Fund$1,115,625$250,000$1,000,000$250,000$1,000,000
Massachusetts Cybersecurity Innovation Fund$2,603,126$950,000$0$2,450,000$2,450,000
Working Cities Tech Assistance Grants$0$0$0$0$0
Parking Management Plan Grants$0$0$0$0$0
Mass. Tech. Collaborative Tech and Innovation Entrepreneurs$1,434,375$1,350,000$0$1,350,000$1,350,000
Entrepreneur in Residence Pilot Program$0$0$0$0$0
Center for Advanced Manufacturing$1,275,000$1,200,000$0$1,200,000$1,200,000
Big Data Innovation and Workforce Fund$0$0$0$0$0
North Shore InnoVentures$0$0$0$0$0
Massachusetts Downtown Initiative$0$600,000$0$600,000$600,000
MA Technology Transfer Center$0$400,000$0$400,000$400,000
Culture and Tourism Programs and Special Projects$0$0$0$0$0
Digital Health Internship Incentive Fund$0$0$0$0$0
Economic Recovery Planning and Response$0$0$0$0$0
Community Empowerment and Reinvestment Grant Program$21,250,005$7,500,000$0$15,000,000$15,000,000
Community Foundation Grants$7,968,752$0$0$5,000,000$5,000,000
Small Business Programs and Special Projects$0$0$0$0$0
Electricity Deregulation Supplemental Unemployment Insurance$0$0$0$0$0
Executive Office of Labor and Workforce Development$2,830,147$1,656,126$2,436,126$2,731,126$3,311,126
Labor and Workforce Development Shared Services$28,732,106$18,576,380$18,576,380$18,574,375$18,576,380
Workforce Development Programs and Special Projects$0$0$0$0$0
Department of Economic Research$637,500$850,889$850,889$850,889$850,889
Demonstration Workforce Dev Program$3,984,376$2,500,000$4,750,000$2,500,000$2,750,000
Registered Apprenticeship Expansion$1,062,500$4,979,285$4,979,286$2,817,398$3,817,398
Labor and Workforce Development IT Costs$0$0$0$0$0
Department of Labor Standards$4,465,163$4,230,506$4,230,506$4,230,506$4,230,506
Asbestos Deleading EA Services$452,115$435,767$435,767$435,767$435,767
Department of Family and Medical Leave$0$0$0$0$0
Re-Employment Assistance$0$0$0$0$0
Economic Stabilization Trust$0$0$0$0$0
Department of Industrial Accidents$20,882,049$19,834,322$19,834,322$19,834,323$19,834,322
Manufacturing Assistance$0$0$0$0$0
Direct Care Workforce Development Contract$0$0$0$0$0
Summer Jobs Program$0$0$0$0$0
Health Care Career Ladder Programs$0$0$0$0$0
Mass. Manufacturing Extension Partnership$0$0$0$0$0
Massachusetts Manufacturing Extension Partnership$2,125,001$2,000,000$2,000,000$2,000,000$2,000,000
Health Care Worker Training$1,062,500$1,000,000$1,000,000$1,000,000$1,000,000
Commonwealth Corporation Grants$0$0$0$0$0
Workforce Training Programs$0$0$0$0$0
Individual Training Grants$0$0$0$0$0
Racetrack Employee Re-Training$0$0$0$0$0
MassHire Department of Career Services$2,194,042$2,221,183$2,221,183$2,221,183$2,221,183
Just-A-Start Biotech Training$0$0$0$0$0
One Stop Career Centers$15,937,504$5,960,051$15,050,000$5,960,051$6,010,051
Mass. Workforce Professionals Association$0$0$0$0$0
Welfare-To-Work Skills Plus$0$0$0$0$0
Department of Labor Relations$3,046,389$3,149,012$3,149,013$3,149,012$3,149,012
Summer Jobs Program for At-Risk Youth$0$0$0$0$0
Arbitration and Mediation Retained Revenue$0$0$0$0$0
Joint Labor Management Committee for Municipal Police and Fire$318,750$291,433$291,433$300,000$300,000
Workforce Development Initiative$0$0$0$0$0
Massachusetts Service Alliance$2,337,501$1,400,000$1,680,000$2,200,000$2,280,000
AFL-CIO Workforce Development Programs$159,375$150,000$150,000$150,000$150,000
Small Business Association Layoff Aversion Program$0$0$0$0$0
Workforce Development Tracking$0$0$0$0$0
DES Youth Service And Conservation Corps$0$0$0$0$0
Commonwealth Development Coordinating Council$0$0$0$0$0
Grants to Municipalities$0$0$0$0$0
Municipal Economic Development$0$0$0$0$0
Community Development Action Grant$0$0$0$0$0
Quincy Center Revitalization$0$0$0$0$0
Economic Grants to Municipalities$0$0$0$0$0
Management Incentive Grants$0$0$0$0$0
Community Investment Grant Program$0$0$0$0$0
Grant to Worcester - CitySquare Project$0$0$0$0$0
Worcester Medical City Grant$0$0$0$0$0
Non-Fed Aided Urban Renewal$0$0$0$0$0
Urban Revitalization and Development$0$0$0$0$0
Office of Consumer Affairs and Business Regulation$1,518,871$1,451,485$1,451,486$1,451,486$1,451,486
Comprehensive Document Imaging System$0$0$0$0$0
Precision Manufacturing Pilot$0$0$0$0$0
Department of Business and Technology$0$0$0$0$0
Mystic Valley Economic Development$0$0$0$0$0
Regional Economic Development Grants$3,506,251$1,000,000$1,000,000$2,000,000$2,000,000
Mass. Opportunity Relocation and Expansion Program$0$0$0$0$0
BRAC Program MBDC$0$0$0$0$0
Brownfields Redevelopment Fund$0$0$0$0$0
Mass. Business to Business Program$0$0$0$0$0
Massachusetts Office of Business Development$2,487,645$1,208,383$1,208,383$1,358,383$1,358,383
In-State Sales Force$0$0$0$0$0
Office of Small Business and Entrepreneurship$0$0$0$0$0
Manufacturing Initiatives$0$0$0$0$0
Mass. Manufacturing Extension Partnership$0$0$0$0$0
Mass. Office of Business Development Grants$0$0$0$0$0
Biotechnology Research Institute$796,875$750,000$750,000$0$750,000
Mass. Manufacturing Extension Partnership$0$0$0$0$0
Economic Development Grants$0$0$0$0$0
Devens Progress Review$0$0$0$0$0
Small Business Development Center at UMass$1,515,361$1,426,222$1,426,222$1,426,222$1,426,222
Microlending$2,975,001$1,800,000$1,300,000$1,800,000$1,800,000
Year Up$0$0$0$0$0
Mass. Office of Travel and Tourism$0$0$0$0$0
Mass. Sports and Entertainment Commission$0$0$0$0$0
UMass Boston Venture Development Center$0$0$0$0$0
Local Travel and Tourism Grants$0$0$0$0$0
Commonwealth Zoological Corporation$0$0$0$0$0
Commonwealth Zoological Corporation$7,543,752$4,000,000$6,750,000$7,100,000$7,250,000
Mass. Office of Travel and Tourism Competitive Grants$0$0$0$0$0
Mass. Film Office$0$0$0$0$0
Local Tourist Councils Financial Assistance$0$0$0$0$0
MassDevelopment Reserve II$0$0$0$0$0
Business Export Grants$0$0$0$0$0
Mass. Technology Collab./Mass. Technology Park Corp.$0$0$0$0$0
Mass. Tech. Collab. Computer Science Education$0$0$0$0$0
Mass. International Trade Council$0$0$0$0$0
MassDevelopment Reserve$0$0$0$0$0
State Office of Minority and Women Business Assistance$0$0$0$0$0
Small Business Association Layoff Aversion Grant Program$0$0$0$0$0
Mass. Office of Travel and Tourism$0$0$0$0$0
Mass. Technology Development Corporation$0$0$0$0$0
Mass. Technology Park Corporation$0$0$0$0$0
Westfield - Engineering and Infrastructure Improvements$0$0$0$0$0
Massachusetts Office of Travel and Tourism$15,775,925$3,271,019$6,269,019$2,184,019$6,869,019
Anniversary Celebrations$0$0$0$0$0
Local Tourist Councils Financial Assistance$6,375,002$0$0$0$0
Mass Office of Travel and Tourism International Marketing$0$0$0$0$0
Massachusetts Restaurant Commission$0$0$0$0$0
Local Economic Development Projects$19,355,036$0$16,800,000$12,167,000$28,522,000
One-Time Local Economic Development Projects$0$0$0$0$0
Massachusetts International Trade Council$129,916$128,703$128,703$128,703$128,703
Alternative and Clean Energy Investment Trust$0$0$0$0$0
Brownfields Redevelopment Fund$0$0$0$0$0
Emerging Technologies Fund$0$0$0$0$0
Mass. Research Center Matching Fund$0$0$0$0$0
Offshore Wind Energy Career Training Trust Fund$0$0$0$0$0
Smart Growth Housing Trust$0$0$0$0$0
Massachusetts Cultural and Performing Arts Mitigation Trust Fund$4,616,112$4,344,575$0$0$0
Race Horse Development Fund$18,675,615$17,577,045$0$0$0
Mass. Tourism Trust Fund$2,308,056$2,172,288$0$0$0
Workforce Training Trust Fund$26,031,256$27,300,000$27,300,000$27,300,000$27,300,000
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