MassDevelopment today announced the availability of funding from the Taxi & Livery Business Support Grant Program, a program that offers taxi, livery, and hackney operators financial assistance to secure products or services that will aid in improving their competitiveness and enhancing safety capabilities in the rapidly evolving market of for-hire transportation.
The program is funded by MassDevelopment’s allocation from the Commonwealth’s Transportation Infrastructure Enhancement Trust Fund.
“Taxi and livery companies represent an important piece of Massachusetts’s transportation ecosystem, and their drivers a significant part of our workforce,” said Housing and Economic Development Secretary Mike Kennealy, who serves as chair of MassDevelopment’s Board of Directors. “The Baker-Polito Administration is glad to see MassDevelopment continuing to direct financial support to help these industries improve operations and remain competitive.”
Through this program, small businesses in the taxi, livery, and hackney industries can apply for grants of up to $40,000 for expenses including dispatch systems, technology-enabled ride-hailing systems, safety enhancements for drivers and passengers, business consultant services, and other equipment. Taxi and livery industry associations can apply for grants of up to $250,000 for systems or other aggregated improvements, including marketing campaigns, which will have a collective impact on the industry in Massachusetts. The full Request for Proposals is available at massdevelopment.com/taxiliverysupport. Responses are due by June 10, 2022 at 5 p.m.
The Commonwealth’s Transportation Infrastructure Enhancement Trust Fund was created by An Act Regulating Transportation Network Companies, which Governor Baker signed into law in August 2016 and is supported by a 20-cent assessment on every transportation network company ride in Massachusetts. One-quarter of the fund is being designated to MassDevelopment to provide financial assistance to small businesses operating in the taxicab, livery, or hackney industries.
Created in 2020, the Taxi & Livery Business Support Grant Program awarded 85 grants totaling $4,465,619 through the first round of the program to support 104 small businesses operating in the taxi and livery industries and two taxi and livery industry associations.
MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth.