The bill outlines the activities and performance of the Office of Performance Management and Oversight (OPMO) for Fiscal Year 2024, which was established to enhance the effectiveness of economic development efforts in Massachusetts. The OPMO comprises various agencies, including the Massachusetts Development Finance Agency and the Massachusetts Office of Business Development, all of which are required to submit annual reports and agency plans that align with the Commonwealth's economic development strategies. For FY24, these plans are aligned with the new economic development initiative, "Team Massachusetts: Leading Future Generations," approved by Governor Healey.

The report highlights significant achievements across various programs, including the creation of new housing units, support for small businesses, and job retention efforts. Notably, the Massachusetts Development Finance Agency facilitated the creation of 605 new housing units, while the Massachusetts Growth Capital Corporation's programs helped retain nearly 7,000 jobs. Additionally, the report details lending activities, with 47 loans totaling approximately $31 million disbursed across 31 municipalities, demonstrating the agencies' commitment to fostering economic growth and community development throughout the state.