Planning on opening a business in the City, or looking for space? Please review the Business Checklist, click here.
More than $7.75 million in loans through EDIC/Lynn has generated more than $26.5 million in private capital, which has led to the creation or retention of more than 1,000 jobs.
EDIC/Lynn has an extensive array of loan programs available to both the start-up entrepreneur and an existing business looking to expand and increase its employment levels. From $5,000 to $3 million, we can make these loan programs available to you.
We also have a good working relationship with local banks and the knowledge and ability to utilize a variety of resources to get your project financed.
It’s all about collaborations, affiliations, partnerships, participation and, most importantly, the creation of good-paying jobs in the City of Lynn.
To learn more about each of our loan programs, please click here.
To download our loan application package, please click here.
To download a cash flow, please click here.
Through more than $500 million in investments, more than 700 jobs have been created, as well as more than $1 million in additional property taxes generated.
The City of Lynn is a participant in the Commonwealth’s Economic Development Incentive Program (EDIP), designed to provide both relief from local property taxes and encourage new investment by providing a 5 percent state tax credit for new construction and expansions.
The process, although fairly streamlined, is somewhat time sensitive, so before initiating any activity check with EDIC/Lynn with regard to eligibility.
There are also federal tax credits available for those looking to rehabilitate and renovate older commercial structures. Again, a simple inquiry before beginning the project benefits all parties.
To learn more about tax incentive programs, please click here.
In 2004, the Mayor’s office created the Inspectional Services Department, combing Health, Electrical and Building in one central location. EDIC/Lynn was pleased to provide financial assistance to facilitate this consolidation.
Recognizing that delays in permitting are costly to all concerned, the City strives to make this process as expedient as possible.
If you are looking to locate your business in the City, EDIC/Lynn can connect you with an extensive network of brokers, management companies and owners of industrial and commercial properties who have relied on the agency for many years.
EDIC/Lynn staff has block-by-block knowledge of property in the City. If it’s available, we will help you find it and provide you with a good idea of what it will cost.
To learn more about site searches, please click here.
More than 1,200 clients served, creating more than 100 new jobs through technical assistance and training.
AT EDIC/Lynn there are a variety of resources offering hands-on counseling and information to assist you in opening your business.
Service Corps of Retired Executives (SCORE) counselors with a wide range of experience are available through the Lynn Area Chamber of Commerce to meet with prospective business owners and help with the development of a business plan.
The SCORE office within the Chamber includes a library that contains all the information you need to develop your plan.
For more information or to contact SCORE, please click here.