Regional Review: New England States Target Industry Niches

Mali R. Schantz-Feld (Location USA / April 2013)

New England’s industry strengths are derived from professional business services, software and high-tech advanced manufacturing, product and component parts, and suppliers to the auto, computer, and aerospace and defense industry. More

Is Healthcare Part of the Facility Location Decision?

Mark Crawford (November 2012)

Skyrocketing Costs and shifting legislation have pushed an area’s healthcare affordability and quality into the mix of primary site selection considerations. More

Regional Review: New England States Are Well Positioned for Economic Growth

Mali R. Schantz-Feld (August 2012)

New England touts a long history of tradition, independence, strong character, and academics. The slow but evident economic recovery of the New England States reflects the persistent determination of its citizens and their resilience in the face of adversity. More

The Leading Mid-Atlantic and New England Metros for Economic and Workforce Growth

Steve Stackhouse (July 2012)

Area Development ranks the Top MSAs in New England and the Mid-Atlantic states for economic and workforce growth based on the overall results from our Leading Locations for 2012 study. More

Maine Basic Business Taxes 2012

Area Development Online Research Desk (2012)

Maine's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include a corporate income tax, sales and use tax, and a railroad tax. More

Maine Direct Financial Incentives 2012

Area Development Online Research Desk (2012)

Maine's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include industrial development bonds, the Maine Apprenticeship Program, and loan guarantees. More

Regional Report: New England's Strong Educational Infrastructure Fosters Growth

Beth Mattson-Teig (July 2011)

A link that unites the New England States is a highly educated work force. The region is known for its extensive base of universities and colleges that has spawned a world-class research and development community. More

Maine Direct Financial Incentives 2011

(March 2011)

Maine's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include industrial development bonds, the Maine Apprenticeship Program, and loan guarantees. More

MAINE at a glance

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 7.95 per cent 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)

• Maine Quality Centers

• Pine Tree Development Zones (Enterprise 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

• Maine Capital Investment Credit