We can offer a wide range of incentives to help your business settle and grow:
Tax Increment Financing
Employment Tax Increment Financing (ETIF): An approved business may be reimbursed 30, 50, or 75% (80% in Pine Tree Zones) of the state income tax withholdings from the net new payroll for up to ten years.
Tax Increment Financing (TIF): An approved business may be reimbursed a share of property taxes paid annually for up to fifteen years. Can help pay project costs, use it to retire bonds it issues as part of the project, or retain it for allowable economic development purposes.
Technology Tax Credits: Maine has several tax credit programs specifically designed to encourage the growth of technology companies in the state:
- The Research Expense Tax Credit
- The R&D Super Credit
- The High-Technology Investment Tax Credit
Jobs and Investment Tax Credit: The federal credit amount is based on investment in qualified property.
Tax Exemption & Reimbursement
Sales Tax Exemptions: Available for manufacturing, R&D, custom computer programming, fuel & electricity, biotechnology, and clean fuel vehicle sales.
Sales and Use Tax Exemption: For construction materials and equipment purchases.
Grants & Options
Sales and Use Tax Reimbursement: On tangible property purchases that are to be physically incorporated in, and become a permanent part of, real property of a qualified business and used in its qualified business activity.
Technology & Development Grants: The Maine Technology Institute offers early-stage capital and commercialization assistance in the form of competitive grants, loans, and equity investment for research, development, and application of new technologies and products, processes, and services.
Financing Options: The Finance Authority of Maine (FAME) offers several financing options that provide commercial grade credits with access to attractive interest rate structures. The State of Maine, City of Portland, and the region also offer a variety of direct loans intended to help businesses in certain industries or to help further the environmental goals of the state.