Maine

Sectors it is courting

• Food and Beverage
• Healthcare
• Industrial Materials
• Forest Products

Investment it is seeking from

• Italy
• Denmark
• Iceland
• Canada
• Switzerland
• United Kingdom

Incentive programmes

• Grant

  Maine Technology Institute (MTI) supports and promotes individuals, businesses, and organizations within Maine’s innovation economy who share our goals of creation or retention of quality jobs statewide; growth and acceleration of revenues; and, attraction and leveraging of additional capital or other investments. Innovative process to commercialization: MTI invests in activities or initiatives that move an idea forward and use a systematic approach to the innovation process. The state supports projects in all phases of the innovation process—idea, research, development, commercialization, and sustainability—as long as a sound methodology is applied. The state also supports organizations, service providers and collaborations that accelerate the innovation process in Maine. Maine-based organizations: Organizations should either be a registered Maine business, have a significant presence in Maine, or have plans to establish a presence in Maine. Typically, investments approved by MTI will not be disbursed until substantial progress has been made in securing a location and/or activities are underway in Maine. Access to matching funds: MTI requires a matching investment equal to or greater than the amount of MTI funding requested. All MTI funding requires a cash investment by the client. MTI can offer up to $100,000 in grant funding.

• Tax Credit

  State corporate income tax credits: 100% for first five years; 50% for next five years, in eligible municipalities; 100% sales and use tax exemptions for both real and personal property.

• Tax Exemption

  Business Equipment Tax Exemption: 100% property tax exemption on business equipment. Education Opportunity Tax Credit (Opportunity Maine) is available to individuals who have continued to live and work in Maine after graduation from an eligible post- secondary school as a possible tax credit on their income tax returns. The credit is also available to Maine businesses that make their employees’ educational loan payments directly to the lending institution on behalf of an employee.

Shovel-ready sites

• FirstPark is the premier business park in Maine, established by the Kennebec Regional Development Authority (KRDA), one of the state’s most unique economic development organizations, supported by more than 20 member communities. FirstPark, a 285-acre campus of shovel-ready, pre-permitted sites with protective covenants, incorporates innovative technology and infrastructure into its site plan. FirstPark has partnered with Cianbro Corporation to provide owners and developers with a seamless, one-stop solution to establish a business with a built-to-suit option at FirstPark.

  Site details

• Brunswick Landing: Maine’s Center for Innovation is a progressive and innovative business campus located at the former Naval Air Station Brunswick (NASB). The 3,200 acre (1,300 hectares) property is equipped with state-of-the-art facilities, close to 2 million square feet (200,000m2) of commercial and industrial space, and a world class aviation complex. The campus is optimized for composites and advanced materials, light manufacturing, aviation/aerospace, biotech/biomed, information technology and renewable energy businesses.

  Site details

Programmes for international technology startups

This accelerator works with startups focused on building expertise at the intersection of humans and machines in areas that will revolutionize how we live and work including AI, life sciences and health, and data and analytics. Techstars accelerators have one goal: to help entrepreneurs succeed. During each three-month program, the state surrounds companies with the best mentors and an unrivaled network of corporate partners, investors, and alumni. The state provides funding and fundraising opportunities, workshops and curated resources, not to mention countless moments where you can learn from your peers. It’s a proven model that’s helped build thousands of successful companies, all over the world.

Programmes for international clean-energy projects

Maine’s Renewable Energy Tax Credit reimburses local property taxes for solar and wind installations used for production of energy used on-site. To meet Maine’s ambitious Renewable Energy goals, the Maine Public Utilities Commission (PUC) is required to procure 14% of Maine’s electrical load via long-term 20-year contracts for renewable energy resources. The first of these contract selections were announced in September 2020, with more than 500 MW of renewable resources selected at highly competitive prices, leading the way for renewable energy to lower energy cost burdens for Maine ratepayers. The Efficiency Maine Trust provides up to $1,000,000 in funding for energy conservation measures through their Commercial and Industrial Custom Program. Maine has energy storage deployment goals of 300 MW by 2025 and 400 MW by 2030.

Incubators and accelerators

• TechPlace

  TechPlace supports the small business development needs of early-stage companies in a collaborative environment in the heart of Maine’s Midcoast region. TechPlace gives entrepreneurs a place to network with other innovators, research and develop ideas, build prototypes, test products, assemble, grow, learn, and become successful manufacturing and technology companies. TechPlace is part of an integrated project through the U.S. Economic Development Administration’s “Make it in America Challenge” Program. Learn more.

University and workforce programmes

• Maine Department of Labor

• Maine Community College System

Additional services

From site selection to identification of potential partners, joint ventures, co-location, etc.

Investor account, as submitted

"We are grateful for the warm welcome we have gotten in Maine. The focus on the local community and making all businesses thrive is truly impressive. Our joint focus on sustainability surely helps, but I can recommend Maine to any business owner ready to think out of the box." - Kresten Wiingaard,CEO Adapt Group

Submitted by the economic development organisation, not independently verified.

Who to contact

• Wade MerrittPresidentmerritt@mitc.com

2 Portland Fish Pier, Suite 204, Portland, ME 04101