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Business Climate: |
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Maine is on the move. One great indication? Businesses have invested more than $4 billion in the state over the past five years.
Our business community's confidence and enthusiasm is due in part to the leadership of Gov. John E. Baldacci, who is steering Maine in a business-friendly direction. Since taking office in January 2003, the governor has established special Pine Tree Development Zones for qualified businesses and created exceptional educational and vocational training opportunities for Maine workers through a new community college system. Governor Baldacci also spearheaded a $60 million economic development bond package – including $45 million for research and development and R&D facilities – that Maine voters overwhelmingly approved.
Maine's toolbox for helping businesses thrive includes:
Pine Tree Development Zones: Strategically located throughout Maine, these zones offer qualified businesses powerful tax incentives, no-cost employee training, financing, and R&D programs. Learn more...
Maine Technology Institute (MTI): Each year, MTI receives more than $6 million to provide grants to Maine companies and research laboratories for R&D activity leading to the commercialization of new technology products and services. Learn more...
Maine Investment Exchange (MIX): MIX provides forums allowing entrepreneurs and companies to present their ideas to an audience of potential investors. Learn more...
Finance Authority of Maine (FAME): FAME is an independent state agency that offers more than 20 financing programs, including the Small Enterprise Growth Fund – providing up to $500,000 in capital to small businesses – and the Maine Seed Capital Tax Credit Program – providing income tax credits to qualified investors in Maine business. Learn more...
Business Taxes: Maine has the fifth fairest state tax system in the nation, according to the Washington-based Corporation for Enterprise Development, and the most favorable overall tax environment in New England, according to a CFO Magazine State Tax Survey. Maine also offers exceptional Tax Reimbursement programs for qualified businesses. Learn more...
Venture Capital: Maine has a range of public and private venture funds ready to provide companies with critical financing. Learn more...
New Energy Options: Maine's energy environment has improved dramatically in the past few years with the restructuring of the electric utility industry and the completion of two natural gas pipeline projects from Canada. Maine ranked third in the nation for percentage of energy consumed from renewable resources in 2000. (Source: U.S. Department of Energy, Energy Information Administration, Combined State energy Data System, Washington, D.C., 2003) Learn more...
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