Massachusetts’ Healey-Driscoll Administration announced this month the launch of a new program that will provide a $2,000 tax credit to the state's businesses that hire active members of the National Guard.
The National Guard Hiring Tax Credit Initiative, provided through the Executive Office of Economic Development and Department of Revenue, aims to increase economic opportunities for members of the National Guard and encourage more businesses to hire and retain them.
The initiative comes after the administration’s recent announcement of the expansion of the Veteran Hire Tax Credit, a $2,500 tax break awarded to small business owners that hire qualified veterans, and the launch of the Veterans’ Equity Dashboard, which provides a centralized, interactive database related to veterans in the Massachusetts’ labor market.
“Massachusetts is home to so many talented, dedicated service members, and there are employers across the state who want to hire them,” said Gov. Maura Healey. “The National Guard Hiring Tax Credit Initiative will increase employment opportunities for our National Guard members and also encourage more businesses to hire and retain them by offering financial support. This is just the latest step in our administration’s efforts to support the economic well-being of our service members, veterans and small businesses.”
The National Guard Hiring Tax Credit, provided through the Economic Development and Department of Revenue’s Massachusetts Office of Business Development (MOBD), will support job security for National Guard members who are often called away for military duties while also supporting employers that hire National Guard members. The state legislature adopted this Tax Credit last session through comprehensive legislation supporting veterans and military families.
“Active service members are critical contributors to our state economy, and we are excited to launch this new program to expand economic opportunity for these members of our community,” said Economic Development Secretary Yvonne Hao. “By supporting service member employment, this tax credit not only boosts our economy and supports job growth, but also strengthens Massachusetts as a leader in supporting our dedicated service members.”
The program is available for businesses with 100 or fewer employees that hire and employ active members of the Massachusetts National Guard for at least six months.
Applications for the program are open now, and will be accepted on an annual, rolling basis beginning Jan. 1.
“This tax credit is a meaningful investment in our National Guard members, expanding opportunities for them in the workforce while encouraging more businesses to recognize and leverage their unique skills and dedication,” said Public Safety and Security Secretary Terrence Reidy. “By supporting employers who hire active Guard members, we’re strengthening our local economies, honoring the service of these individuals, and building a more resilient workforce across Massachusetts.”
For more information on the new program, visit mass.gov/mobd.