The Economic Development and Industrial Corporation of Boston (“EDIC”) was formed by the Commonwealth of Massachusetts in 1971 with a mandate to preserve and create industrial jobs for residents of the City of Boston. The Corporation is a “public instrumentality,” which, as a quasi-public agency, has many of the powers and responsibilities of both public agencies and private corporations. Within an Economic Development Area (EDA), such as Boston’s Marine Industrial Park, the Corporation is empowered to take land by eminent domain, issue debentures and revenue bonds, buy and sell property, collect rents, enter into contracts, receive grants, and make or receive loans. EDIC’s assets, including its real estate holdings, are considered public property, which are to be used to achieve essential public and/or governmental purposes.
EDIC has developed and currently manages the Boston Marine Industrial Park (“BMIP”) in South Boston consisting of more than 191 acres of real property. The BMIP contains over 200 businesses employing over 3,000 people.
In 1990, EDIC was merged with the Mayor’s Office of Jobs and Community Services (“OJCS”). The merger allowed the City of Boston to consolidate all of the City’s job training and placement services in a single agency. In addition, EDIC/OJCS became responsible for monitoring compliance with the “Boston Jobs Policy”, which sets goals for minority, women, and City resident employment for all large public and privately funded construction projects.
In 1992, EDIC was merged for administrative purposes with the city’s planning agency, The Boston Redevelopment Authority. Although the two agencies remain separate public instrumentalities, they operate as a “single agency” consolidating all of the city’s planning, development review functions with its economic and industrial development and job training efforts.
