Maine Business Resource
Funding assistance is available to most sizes and types of Maine business. The state has developed several programs that offer what it terms “comprehensive incentives.” These programs include progressive tax reimbursement policies and a nationally recognized “Community Development Block Grant” program that provides funds to projects such as infrastructure development
The “Pine Tree Development Zone” (PTDZ) program offers eligible businesses the chance to virtually eliminate state taxes for up to ten years. The goal is to create quality jobs and support new or relocating Maine businesses. Targeted industries include biotechnology, composite materials, environmental tech, precision manufacturing, information technology and financial services. Benefits provided by the PTDZ include corporate income tax credits, insurance premium tax credits, payroll and property tax credits, income tax reimbursement, and more.
Maine’s “Three Ring Binder” is a $32 million public-private collaboration between Great Works Internet, Pioneer Broadband, and the University of Maine system to create an open-access fiber-optic network extending into rural and disadvantaged areas of the state. Maine is currently ranked in first place for high-speed broadband intensity, and seventh place for high-speed broadband availability. The newly installed 1,100 miles of fiber optic cable will enhance the state’s health care system and positively impact academia and small business as well.