Employment Tax Increment Financing Program (ETIF): For-profit businesses who are a non-retail, non-public utility, that, within two calendar years of becoming ETIF certified: hire 5 or more net-new qualified employees above the company’s employment baseline, established at time of application; offer new, full-time employees access to a group health care plan and ERISA retirement plan; and meet the per capita income for the county of certified location, may be eligible to receive a refund ranging from 30% to 75% of state income tax withholdings paid by the business for the newly hired employees.

Businesses certified under the Pine Tree Development Zone program may receive a withholding tax reimbursement of 80%. The ETIF reimbursement is available for up to 10 years for certified businesses who continue to meet program requirements.

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Pine Tree Development Zone Program (PTDZ): Businesses involved in Biotechnology, Aquaculture and Marine Technology, Environmental Technology, Advanced Technologies for Forestry and Agriculture, Manufacturing, Precision Manufacturing, Information Technology and Financial Services, who are certified as a Pine Tree Development Zone business, may qualify for corporate income tax credits, sales and use tax exemptions, a withholding tax reimbursement of 80% and reduced electricity rates. To qualify, a company must operate in one of Maine’s targeted industry sectors and create new jobs paying wages that exceed the per capita personal income of the county in which the project is located. The incentives available under this program are available for up to 10 years for certified businesses who continue to meet program requirements. The original program, which began in 2003, was set to cease accepting new applicants on December 31, 2018. On July 4, 2018, Maine renewed the program and extended the application deadline by three years to December 31, 2021, with the benefits sun setting on December 31, 2031.

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Major Business Headquarters Expansion Program (MBHQ): Enacted in 2017, this program is intended to encourage the location and expansion of major business headquarters, in the State of Maine, who intend to make a qualified investment, at the applicant’s headquarters within the State of Maine, of at least $35,000,000, and to promote the recruitment and training of employees for these facilities. The applicant employs at least 5,000 full-time employees worldwide, of which at least 25% are or will be based in Maine. For applicants meeting all program criteria, a refundable credit against the tax due for the taxable year in an amount equal to 2% of the certificated applicant’s qualified investment for a period up to 20 years is available.