Business Incentives and support
We are proud of our strong partnership with the Northern Maine Development Commission, which provides federal and state services at the regional and local level. We are also proud of the strong relationships we have cultivated with businesses, chambers of commerce, and other entities across Aroostook County.
If you are evaluating whether to invest, establish or expand your business footprint in The County, there are a number of state and federal incentives and support services that Aroostook Partnership provides.
Business support
The Aroostook Partnership is ready to help new and existing businesses increase their presence by providing services designed to support informed decision making. Our robust collaborations with NMDC, investors, and the broader County business community allow us to offer tailored support to promote your success and profitability.
- Connect companies with business leaders who can address specific or technical questions about doing business in northern Maine.
- Coordinate area visits for prospective companies considering an Aroostook County location.
- Work with NMDC to:
- Research and assemble data on communities that may support your business needs.
- Conduct a custom ROI analysis to evaluate the profitability of your investment and estimate the value of state and municipal incentive programs that can provide savings.
- Identify funding and training opportunities to grow your business.
Incentives
The Federal Empowerment Zone (FEZ) tax credit is a general business tax credit available to employers with employees who both live and work in the zones. This tax credit is limited to for-profit organizations. The credit is equal to 20% of the wages paid up to $15,000 per calendar year, for a maximum annual per employee credit of $3,000.
For more information contact:
Jon Gulliver
Director of Economic and Community Development
jgulliver@nmdc.org
Businesses can receive reimbursements for local property taxes paid on eligible business property for up to 12 years. This program helps reduce the cost of doing business in the county.
The Dirigo Business Incentives program offers eligible businesses the opportunity to greatly reduce state taxes for up to 5 years when they make significant capital investments or provide qualified employee training in certain business sectors.
Municipalities in Aroostook County can use TIF to support businesses making significant capital investments. TIF is a local financing tool that permits a municipality to use some or all of the new property taxes that result from an investment project within a designated district to assist in that project’s expenses. The municipality may disburse the tax increment directly to the investing business to help pay project costs, use it to retire bonds it issues as part of the project, or retain it for allowable economic development purposes. For more information about financial incentives offered through the state of Maine, please visit the Maine Office of Business Development.