Below is a sampling of some popular State of Maine incentive programs. The PCEDC can organize meetings between you and State of Maine incentive providers in order to get you the best programs that suit your needs.

For more information, contact the PCEDC at 1-800-539-0332 or email us at info@pcedc.org

US Senator Susan Collins during a recent visit to the Pleasant River Lumber Company, Dover-Foxcroft. Accompanying the Senator is company president, Luke Brochu. Senator Collins and the other members of the Delegation were instrumental in securing federal transportation funds for right-hand turning lanes into the Pleasant River Lumber mill site. The PCEDC designed and advocated for the funds on behalf of the company.

"Pine Tree Zones" in Piscataquis County
If you make an investment or create employment within one of these sites, your improvements may be eligible for:

• Employment Tax Increment Financing (ETIF) that returns 80 percent of state income taxes from qualified new employees for up to 10 years.
• 100 percent refund of corporate income tax and insurance premium tax for years one through five and 50 percent for the remaining five.
• Local option Tax Increment Financing that does not count against a municipality's existing TIF area and value caps.
• 100 percent sales and use tax exemption for construction materials and equipment purchases, effective July 1, 2005.
• Reduced electrical rates.

State Tax Incentives

• Business Equipment Tax Reimbursement (BETR) Program- reimburses for up to 12 years all municipal property taxes paid on eligible business property. This program effectively eliminates personal property taxes on all qualifying new machinery and equipment.
• Employment Tax Increment Financing (E-TIF)- available to assist in the financing of business investment projects that create at least 5 net new, high quality jobs in Maine. An E-TIF approved business would receive either 30, 50, or 75 percent of the state income tax withholdings paid by qualified employees for up to ten years.
• Manufacturing Sales Tax Exemptions- sales of machinery and equipment used by the purchaser directly and primarily in the production of tangible personal property is eligible for a sales tax exemption.
• Fuel & Electricity Sales Tax Exemption- exempts from sales tax 95% of the sales price of all fuel and electricity purchased for use at the manufacturing facility.

• Business Assistance Program- provides a grant to a local government to either loan or grant up to $400,000 to business in order to finance fixes assets including capital equipment, commercial or industrial buildings, fixtures, or property improvements. This financing must represent a critical component of a business' development or expansion and must lead to the creation or retention of jobs for low and moderate-income persons.
• Economic Development Infrastructure Grant- provides grants to municipalities of up to $400,000 for the construction of public infrastructure projects such as water lines, roads, utilities, wastewater treatments, and rail spurs. This infrastructure must represent a critical component of a business' development or expansion and must lead to the creation or retention of jobs for low and moderate-income persons.

• Tax Increment Financing (TIF)- a strictly local financing tool wherein a municipality may use all, or a portion of, the new property taxes that result from an investment project within a designated district to assist in that project's financing. The municipality has the option of issuing bonds (which are retired using the tax increment) or paying the tax increment directly to the investing business to cover project costs.

• Governor's Training Initiative- partial reimbursement of training costs may be provided to employers who are hiring new employees, and/or retaining or upgrading their existing work force.
• Maine Quality Centers Program- provides 100% state-financed education and training for new employees, as well as customized recruitment and guaranteed fast-track training designed to employer specifications. This program is offered at no cost to the company or trainees and is delivered by the State's Technical Colleges.
• Workplace Safety Education and Training Program- provides customized occupation health and safety training, work site evaluation, and technical support to reduce injuries, illnesses, and worker's compensation costs. Services are offered to employers at no cost.