CEO Guide to Site Selection

Maine

NEW INCENTIVES IN THE PINE TREE STATE

While Maine is one of the smallest states in the nation, its global reputation is growing. International trade now supports more than one in five jobs, and the state’s exports continue to grow after reaching a record of more than $1.3 billion to 177 markets in 2021. In April 2023, Gov. Janet Mills announced legislation to modernize and strengthen the state’s business incentive programs. The Dirigo Business Incentive uses a two-prong approach that encourages businesses to train more people and attracts and expands businesses in high-value sectors. Under the improved legislation, companies that pay to train three or more workers in an approved program could receive a $2,000 tax credit per worker and up to a 15% credit for capital investments.

“The Jobs Plan has helped strengthen our economy by making direct investments in the infrastructure that Maine people need to succeed, like housing and child care. While we have more work to do, Maine’s economy is stronger than it was before the pandemic and continuing to grow thanks to the Jobs Plan.”
Janet Mills
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Major Business Headquarters Expansion Program: Offers a tax credit of 2% of the qualified investment for a period of up to 20 years for businesses that locate a major headquarters in the state and create high-quality jobs.

Technology Tax Credits: Offers tax credits and exemp tions for everything from electricity cost to equipment purchases and other R&D expenses for companies involved in manufacturing and certain research-driven activities.

Small Enterprise Growth Fund: Offers initial matching investments from $150,000 to $300,000 to small businesses that demonstrate the potential for high growth and public benefit.

Maine Technology Institute (MTI): A non-profit that offers funding for private companies and research labs to promote R&D and assist innovative companies to in gettingproducts to market faster.

EDCs

Department of Economic and Community Development
maine.gov/decd

City of Augusta Economic Development augustamaine.gov/departments/development_services/economic_and_community_development/
economic_development.php

Bangor Region Chamber of Commerce
bangorregion.com

HIGHLIGHTED PROGRAM OR INITIATIVE

In April 2023, the Dirigo Business Incentive Program replaced the 20-year-old Pine Tree Development Zone program to better reflect the current needs of Maine’s economy. The incentive program takes a two-prong approach that encourages businesses to train more people, and attracts promising high-value sectors.

BIG DEALS

  • Tyler Technologies broke ground in April 2023 on a new office building in Orono.
  • New Balance broke ground in May 2023 on a $65 million manufacturing facility in Skowhegan. The project will create 200 jobs.
  • Developers are starting on the first phase of a $1 billion mixed-use project in Portland.
  • Global Secure Shipping broke ground in September 2023 on a $3.9 million expansion in Old Town.
  • Bigelow Laboratory announced in October 2023 a $30 million expansion in East Boothbay.
  • The University of Southern Maine is constructing the $63 million Crewe Center for the Arts.

BIG COMPANIES

  • Pratt & Whitney Aircraft Group
  • TD Bank, N.A.
  • L.L. Bean
  • Unum Provident
  • Athenahealth
  • Cianbro
  • Bath Iron Works Corporation
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.