CEO Guide to Site Selection

Maine

PROGRESS IN THE PINE TREE STATE

Gov. Janet Mills has been busy making oversize investments and initiatives to support the local economy. Along with workforce development plans, there’s a new initiative to bring mobile computer science labs to all schools, and a forgivable loan of up to $2 million for small businesses still recovering from the pandemic. 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.

“Maine has experienced a strong economic recovery from the pandemic, and because of deliberate choices made by my administration to safeguard our resources, our state is also prepared to withstand future economic challenges…. I am proud that our savings are at a record high and that we have closed the long-standing structural gap in our state budget, finally ensuring we will be able to meet our obligations to Maine people.”
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

The Thrive Maine initiative will offer a forgivable loan of up to $2 million for small businesses that experienced losses, increased costs or market interruption as a result of the pandemic. The program is funded for $58 million, and awardees that follow program terms may have their loans fully forgiven over a four-year period.

BIG DEALS

  • The U.S. Navy announced in August 2021 a $1.7 billion contract to expand the Portsmouth shipyard.
  • UMaine announced in October 2021 plans to expand its Advanced Structures and Composites Center in Orono.
  • Precision Optics acquired Windham-based Lighthouse Imaging LLC in October 2021 for $8 million.
  • GO Lab broke ground in January 2022 on a new manufacturing facility in Madison.
  • Flood Brothers Farm in Clinton opened the state’s first renewable natural gas dairy digester, which creates clean renewable gas from dairy manure, in July 2022.
  • LP Building Solutions announced in November 2022 it will invest $400 million to expand its LP Houlton facility and create another 100 jobs.

BIG COMPANIES

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