Economic Development
Maine Public Service Company is your business partner in Northern Maine. Whether you're looking for information on available buildings, sites, incentives, workforce availability, or existing businesses, MPS is your one-stop source for information. MPS puts a lot of energy into Northern Maine.
More Than a Beautiful Place to Live . . .
The Northern Maine region is more than a beautiful place to live. It is also a great place to work and do business. The area is home to a diverse set of businesses that includes companies such as . . . Nexfor Fraser Papers, McCain Foods USA, Connect North America, Burrelle's Information Services, Sitel, Smith & Wesson, Irving Forest Products and others.
The people of Northern Maine are well known for their work ethic. Area business leaders often credit the region's workforce for their success. "Our existence here in Houlton is a tribute to our Aroostook County workforce and great work ethic, along with a willingness to learn new ideas and produce fine-quality products." Terry Wade, Plant Manager, Smith & Wesson
Serious About Economic Growth . . .
The Northern Maine region and its Canadian partners are serious about economic growth. We realize that in order to ensure our quality of life and to provide opportunities in the future, we must diversify and grow our economy. Traditional Maine industries, such as wood products manufacturing, paper-making, and food processing, will always be an important part of the region's economy, but significant opportunities exist for new industries. We are working hard to provide prospective companies with the tools they need to locate in Northern Maine.
- The region boasts a robust and reliable telecommunication infrastructure comparable to that of Boston.
- Aroostook County has been named a Rural Empowerment Zone. This designation provides valuable tax incentives for companies locating in northern Maine.
- Maine Public Service Company offers Economic Development Rates for many companies locating or expanding in the region. In addition to EDR, MPSCo negotiates special rate contracts with most of its largest customers.
- Inexpensive lease and purchase rates for quality office, call-center and manufacturing space.
Pine Tree Development Zones Enacted
The Maine State Legislature enacted Governor Baldacci's Pine Tree Development Zones as part of the FY 2004 State Budget. The Zones will be used as a stimulus for economic development in parts of the state and will provide businesses with tax incentives and other benefits. Aroostook County is home to one of the zones and can add this to the existing Rural Empowerment Zones, as a powerful tool attracting businesses to the northern part of the State. The Pine Tree Zones provide companies with 100% exemption on state corporate income tax for the first 5 years of operation as well as 100% sales tax exemptions for all building materials and personal property purchases.
* New * Important Information:
LD 1473 was recently passed by the Maine legislature and signed by the Governor on 06/22/2009. This legislation modifies the existing Pine Tree Development Zone program from being limited by location to being open statewide. This will not be effective until 09/12/2009. Until then, all existing program requirements and processes remain in place. The bill creates a two-tiered system that offers a longer benefit period for businesses in more economically challenged areas. Businesses in Northern Maine municipalities, or Tier 1 locations, receive 10 years of benefits, including income tax credits, employee income tax withholding reimbursements, and reduced utility rates. The two-tiered system becomes effective in January, 2010. However, for calendar year 2009 only, all of Maine will be considered Tier 1 to encourage development during the recession.
Businesses are eligible for Pine Tree Zone incentives if they are a new or expanding business that promises to create new jobs. Go here for more information on Pine Tree Zones.
| For assistance or more information contact: |
Economic Development Department
Maine Public Service Company
Phone: (207) 760-2418
Fax: (207) 760-2419
Email: econdev@mainepublicservice.com |