Massive borrowing bill signed into law by Gov. Maura Healey includes financial support for life sciences and climate technology industries, as well as approval for a new professional soccer stadium in Everett. The $4 billion bill authorizes $500 million for life sciences over the next 10 years and a $400 million commitment to climate tech. House Speaker Ronald J. Mariano and Senate President Karen E. Spilka praised the bill’s impact on employers and economic growth.
The legislation, known as the Mass Leads Act, aims to position Massachusetts as a global hub for climate innovation and applied AI, while fostering growth in the already renowned life sciences industry. The bill was approved after months of negotiations and a rare post-election formal session last week.
The Kraft Group, owners of the New England Revolution soccer team, are behind the $500 million plan to build a soccer-specific stadium in Everett. State Sen. Sal N. DiDomenico and Mayor Carlo DeMaria are supporting the effort, which would see the stadium constructed on a piece of land along the Mystic River currently occupied by a shuttered power plant.
The bill authorizes the rezoning of the land, expected to have positive environmental and economic impacts in surrounding communities and improve public transit connectivity. The Revolution team is pleased with the legislation, stating that it paves the way for future development and economic opportunities in Everett. Discussions with stakeholders and officials will begin to evaluate the proposed site, which could lead to environmental rehabilitation and improved waterfront access in the area.
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