Business Incentives



Tax Increment Financing / Special Tax Assessment

Certain projects may be eligible for local property tax abatement and/or state tax credits based on criteria such as jobs and amount invested.



Foreign Trade Zone

This niche program can be a great opportunity for manufacturers looking to expand their operations by importing or exporting products internationally.

HEDIC Loan Program Description

For industrial businesses that are weighing their options to finance a projects, HEDIC offers a low-interest loan that works in partnership with your bank.

HUB Zone Designation 

The U.S. Small Business Administration (SBA) has designated a portion of the City as a HUB Zone which offers competitive advantages on local, state and federal contracts.



Center City Housing Incentive Program (CCHIP)

Similar to the TIF/STA, there are local property tax abatements and state tax credits available for market-rate housing projects based on certain criteria.

Residential Neighborhood Improvement Program (RNIP)

The Holyoke Rental Neighborhood Improvement Program provides low interest loans to rental property owners to provide quality housing in the City of Holyoke.

Neighborhood Improvement Program

The Neighborhood Improvement Program (NIP) administered by OneHolyoke Development CDC provides up to 60% rebates for home improvement of one-to-four unit, owner occupied properties.



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Last Updated on January 27, 2013 by