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 agency plans and reports 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 in housing, community, business, and workforce development. Notably, the Massachusetts Development Finance Agency facilitated the creation of 605 new housing units, while the Massachusetts Office of Business Development supported 676 small businesses. Additionally, the Massachusetts Growth Capital Corporation's grant program helped retain nearly 7,000 jobs. The lending activity for FY2024 included 47 loans totaling approximately $31 million, with the Massachusetts Development Finance Agency providing the majority of these loans. The report emphasizes the ongoing commitment to fostering economic growth and community development across the state.