BOSTON — Massachusetts businesses that hire active National Guard members will now receive a $2,000 tax credit, state officials said Monday.
The National Guard Hiring Tax Credit, provided through the state’s Office of Business Development, will support job security for Guard members who are often called away for military duties while also supporting employers that hire Guard members, Gov. Maura Healey said in a statement.
The Legislature adopted this tax credit last session through comprehensive legislation supporting veteran’s and military families, Healey said.
“Massachusetts is home to so many talented, dedicated service members, and there are employers across the state who want to hire them,” Healey said. “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 wellbeing of our service members, veterans and small businesses.”
The initiative comes after Healey’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.
“We are addressing the employment roadblocks active service members face and expanding valuable job opportunities statewide,” Lt. Gov. Kim Driscoll said in a statement. “The National Guard Hiring Tax Credit will incentivize businesses to hire skilled service members, empowering these businesses to grow and strengthening our local economies.”
“The skills, discipline, and resilience of National Guard members make them invaluable to any employer,” Veterans Services Secretary Jon Santiago said in a statement. “Through the HERO Act and initiatives like this tax credit, we’re strengthening our workforce and reaffirming our commitment to those who serve, ensuring they receive support both in uniform and at home.”
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.
The state began accepting applications for 2024 starting Monday, Veteran’s Day. State officials will then accept applications on an annual, rolling basis beginning Jan. 1 of each year.
For more information, visit the state’s website.
This is a developing story. Check back for updates as more information becomes available.
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