POPULATION: 1,318,301
LABOR FORCE: 704,134
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Forest products, agriculture,
textiles, fishing
EXPANDING INDUSTRIES: Biotechnology, composite materials,
financial services, high-tech
electronic manufacturing, marine
science technology, information
technology, environmental
technology
COLLEGE GRADUATES: (Age 25 and over) 25.9% (2007)
BASIC BUSINESS TAXES:
Corporate Income Tax: 3.5 percent
of net income applies to the first
$25,000; 7.93 percent applies to
the next $50,000; 8.33 percent
applies to the following $175,000;
and 8.93 percent applies to Maine
net income in excess of $250,000
Corporate Filing Fees: $145 minimum
filing fee for domestic corporations;
$250 application fee for
foreign corporations
Sales and Use Tax: 5 percent of the
sales price on retail sales of tangible
property and certain services
Property Tax: Real and personal
property is taxed locally at varying
rates
BUSINESS INCENTIVES
Department of Economic and
Community Development:
• Employment Tax Increment
Financing (ETIF)
• Governor's Training Initiative
• Pine Tree Development Zones
• Tax Increment Financing
Maine Revenue Services:
• Business Equipment Tax
Reimbursement Program (BETR)
• Business Equipment Tax
Exemption Program (BETE)
• Clean Fuel Tax Credit
• Employer-Assisted Day Care Credit
• Employer-Provided Long-Term
Care Benefits Credit
• High-Technology Investment
Tax Credit
• Jobs and Investment Tax
Credit (JITC)
• Research Expense Credit
• Super R&D Credit
Maine Technology Institute:
• Seed Grant Program
• Development Award Program
• Cluster Initiative Program
• Accelerated Commercialization
Fund
• SBIR/STTR Phase 0 Proposal
Assistance Program
• Maine Technology Asset Fund
Maine Community College System:
• Maine Quality Centers (specialized
technical training for workers in
new or expanding business)
Finance Authority of Maine:
• Secondary market taxable &
tax-exempt bonds
• Major Business Expansion
Bond Program
• Commercial Loan Insurance
Program
• Economic Recovery Loan Program
• Energy Conservation Loan Program
