Financial and Tax Incentives
Pine Tree Development Zones (PTDZ) Offers eligible businesses in Maine the chance to greatly reduce, or in some cases, virtually eliminate state taxes for up to ten years. LEARN MORE Employment Tax Increment Financing Assists in the financing of business investment projects that create at least 5 net new, high quality jobs in Maine. LEARN MORE Technology Tax Credits Several tax credit programs are specifically designed to encourage the growth of technology companies in the state. LEARN MORE Credit for Educational Opportunity Available to employers of college graduates who earn an associate or bachelor’s degree from an accredited college or university and subsequently live and work in Maine. LEARN MORE Maine Seed Capital Tax Credit Equal to a percentage of a person’s qualified investment in a new or recent business venture. LEARN MORE New Markets Capital Investment Credit A person making a qualified equity investment in a low-income community business is allowed a credit equal to 39% of the investment. LEARN MORE Sales Exemptions Exemptions are offered in biotechnology, custom computer programming, fuel and electricity, manufacturing, and research and development. Finance Authority of Maine A quasi-governmental agency with several financing options available to companies. LEARN MORE Maine Venture Fund A professionally managed venture capital fund that invests exclusively in Maine companies that demonstrate a potential for high growth and public benefit and employ 50 or fewer or have gross sales of $5 million or less within the past 12 months. LEARN MORE Community Development Block Grant Program Provides communities with gap funding to assist identified businesses in the creation/retention of jobs for low-and moderate-income persons. LEARN MORE Local & Regional Revolving Loan Program There are numerous local and regional economic development organizations throughout the state that administer their own revolving loan programs. Maine Rural Development Authority (MRDA) Provides financial assistance to communities and their development partners to help develop speculative commercial and industrial buildings and to help develop/redevelop underutilized commercial industrial properties. LEARN MORE Commercial Facilities Development Program Provides financial resources to assist in the development of new commercial facilities, the acquisition/ redevelopment of nonproductive commercial facilities for return to productive use, and in the purchase of machinery or equipment. LEARN MORE
Research and Development Grants and Loans from Maine Technology Institute
Tech-Start Grants Up to $5,000 tech transfer exploration which will be awarded on a monthly basis – for concept planning, market research and tech transfer exploration. LEARN MORE Seed Grants Up to $25,000 will be available every four months for early-stage R&D activity. LEARN MORE Development Awards Up to $500,000 are offered up to three times a year as a conditional loan for later stage R&D and development of new and/or enhanced products, processes or services leading to commercialization. LEARN MORE Business Accelerator Grant For activities that will increase a company’s chance of success: business planning, strengthening financial management capacity, developing strategies to secure key customers, strategic partners and investors, etc. LEARN MORE Equity Capital Investments up to $200,000 available to selected companies who need to achieve specific milestones to secure follow-on private investment. LEARN MORE Cluster Initiative Program Awards up to $50,000 for feasibility and planning and up to $500,000 for collaborative initiatives that boost the strength and scale of Maine’s high-potential technology intensive clusters. LEARN MORE
Workforce Training Assistance
Maine Quality Centers Program Funds customized workforce training delivered through Maine’s 7 community colleges. Grants are available to fund pre-hire, post-hire and incumbent training. LEARN MORE Maine Apprenticeship Program Provides customized training and professional credentials to new, present, as well as future workers. LEARN MORE Safety and Education Training Program Provides customized health and safety training, site evaluation and technical support to reduce injuries, illness, and worker’s compensation costs. LEARN MORE Maine Manufacturing Extension Partnership Creates opportunities for small and medium sized manufacturers by helping them become more efficient, productive, and globally competitive. LEARN MORE Manufacturers Association of Maine (MaMe) Members benefits include networking opportunIties, B2B and contract services, educational and professional workshops, business growth services, etc. LEARN MORE
Technical and Operational Support
Office of Innovation and Assistance – An advocate for businesses, and available to travel statewide to offer comprehensive assistance services.
Efficiency Maine – Offers information and cash incentives to all Maine businesses that install qualified energy efficient electric products.
Maine Procurement Technical Assistance Center – Assists companies interested in selling their products and/or services to local, state or federal government agencies, either as prime contractors or subcontractors.
Maine International Trade Center – Offers comprehensive export, logistical, technical and market research assistance to companies doing business in Maine that are seeking to expand their international business prospects.