COLUMBUS, OH -- The Council of Development Finance Agencies (CDFA) is proud to announce MassDevelopment as the winner of the 2013 CDFA Distinguished Development Finance Agency Award (State).

The CDFA Excellence in Development Finance Awards recognize outstanding development finance programs, agencies, leaders, projects and success stories. These awards, presented to award winners annually at the CDFA National Development Finance Summit, honor excellence in the use of financing tools for economic development, as well as the individuals who champion these efforts.

"We're thrilled that CDFA has recognized our work stimulating the Massachusetts economy with this coveted award," said MassDevelopment President and CEO Marty Jones. "MassDevelopment is proud of our programs for tax-exempt bonds, loans and community development, and we are grateful that CDFA has chosen us for this honor."

MassDevelopment, the Massachusetts Commonwealth's finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. The agency embraces a unique structure and evolving slate of programs to create jobs and housing units, and eliminate blight. Its involvement in both finance and real estate services allows MassDevelopment to respond to changing economic conditions by seeing the entire development picture, providing mobility in the financing market and taking action to position Massachusetts for economic growth.

"CDFA is proud to honor MassDevelopment for their excellence in development finance. Their work as a state agency is cutting edge, innovative and an example of best practices in our industry," said Toby Rittner, President & CEO of CDFA.

The CDFA Excellence in Development Finance Awards will be formally presented at the 2013 CDFA National Development Finance Summit, in Washington, DC on August 8.

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net.