Gov. Maura Healey signs massive economic development bill

A massive borrowing bill that commits state financial support to the life sciences and climate technology industries, clears the way for a new professional soccer stadium in Everett, and much more is now law.

Gov. Maura Healey on Wednesday signed the economic development bond bill (H 5100) that lawmakers sent to her desk six days ago. An aide said the governor gave approval to nearly the entirety of the 319-page bill and returned only one section dealing with automobile insurance with an amendment.

The roughly $4 billion bill authorizes another $500 million for life sciences companies over the next 10 years and calls for a new $400 million commitment to the burgeoning climate tech industry.

Lawmakers packed the measure with policy riders, including language sought by the Kraft family to facilitate the construction of a new home stadium for the New England Revolution.

Healey’s office rolled out a lengthy press release with quotes in support from the governor, lieutenant governor, Cabinet secretaries, and legislative leaders. Aides said the governor “will host a ceremonial signing event in the near future.”

House and Senate Democrats failed to come to an agreement on the package before the traditional July 31 end-of-formal-business deadline. After months of additional negotiations, they reconvened for a rare post-election formal session last week to approve the compromise.

This is a developing story. Check back for updates as more information becomes available.

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