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List of incentives available in this location for quick easy reference below.

Incentives

Table key

  • Incentive offered
  • Incentive not offered
  • Did not submit information
Cash grants/incentivesMore [+]Less [-]
  • Maine Pine Tree Zone Program (Tax rebates, credits, and rate reductions).
  • Workforce training initiatives.
  • Financing packages.
  • Research and Development Grant Programs.
  • MITC also connects prospective investors to local cities and towns within the State that offer additional property tax, financing, and land incentives to potential investors.
  • Community Development Block Grant program that specifically allocates funds each year to economic development and economic development infrastructure projects in rural Maine. Similar funds are often available in the larger cities across the state.
Tax exemptionsMore [+]Less [-]

Tax incentives through the Maine Pine Tree Zone program offer generous incentives. Eligible companies adding jobs within the State of Maine can receive either 5 or 10 years of tax benefits based on geographical location. Benefits include:

  • Corporate Income Tax Credit.
  • Insurance Premiums Tax Credit.
  • Income Tax Reimbursement.
  • Sales and Use Tax Reimbursement on products used to construct facilities.
  • Access to discounted electricity rates.
  • Municipalities across the state also offer tax increment financing districts and business equipment tax reimbursements.
Property assistance / other fiscal incentiveMore [+]Less [-]
  • MITC works with a statewide network of regional and local economic development professionals to provide a wide variety of property and site location options that take into account cost, access to transportation, access to workforce, and access to similarly situated companies.
  • Maine offers a number of pre-permitted business and development parks with ample capacity to provide new or spec-built facilities with minimal turnaround. These facilities are often at a much lower cost than those closer to much larger geographic areas, and come with access to significant workforce capacities.
  • Additional state and federal incentives are also available for historic property preservation and renovation.
Training and labor market assistanceMore [+]Less [-]
  • MITC connects its clients and potential investors to a wide array of training and market assistance services offered in the State of Maine. Maine offers direct financial assistance through several initiatives including: Governors Training Initiative and the Maine Quality Centers Initiative.
  • Additionally, several service providers such as the Maine Manufacturing Extension Partnership are available to provide workforce training in lean manufacturing practices.
Loan guarantees, cheap loans or financeMore [+]Less [-]
  • MITC connects investors to services offered by the Finance Authority of Maine, offering a wide variety of low interest loan and loan insurance products to business operations in Maine.
  • Maine towns and cities offer attractive tax increment financing districts of up to 30 years. These packages often provide leveraging of significant capital.
Exemptions from regulations
Target sectorsMore [+]Less [-]
  1. Advanced Materials and Renewable Energy Product Manufacturing
  2. Biotechnology Research and Manufacturing
  3. Food and Seafood Processing
Sectors specific incentivesMore [+]Less [-]
  • The Maine Pine Tree Zone program is offered to a variety of sectors, including: Agriculture, Aquaculture, Biomedical/Biotech, Composites, Environmental Technologies, Forest Products, Financial Services, Marine Products, General Manufacturing, and Technology Industries.
  • The State offers several incubator programs for: Composites Industries, Biotechnology, Precision Manufacturing, Aquaculture, Forest Products Technologies, Environmental Technologies, and Small Business Incubation.
  • The Maine Technology Institute provides R&D financing and grants to science and technology investments across multiple sectors.
  • The Maine Film Office provides film and media incentives covering sales taxes and payroll taxes incurred during media production for projects over $250,000.
  • There are also several incentive packages available for agricultural product development and investment.

Sponsorship

If you are the authorised promotions agency for Maine and would like to have your location highlighted on fDi Atlas, you can contact our sales team on + 44 (0) 207 775 6667 or contact us here.