Mass. Gen. Laws ch. 151A, § 14E

There is hereby established a separate fund to be known and referred to as the economic development fund. There shall be credited to such fund all amounts received under section fourteen D. Money in the fund, subject to appropriation, shall be used only for the activities and programs of state agencies and instrumentalities, including the administration of the same, which are reasonably calculated to support economic development within the commonwealth, including but not limited to activities and programs concerned with skills training and education consistent with employment need, capital formation, tourist promotion, and industrial promotion and development.