Incentives

Pine Tree Zones

The Pine Tree Development Zone (PTDZ) legislation supports new “qualified business activity” in Maine by offering manufacturers, financial service businesses and targeted technology companies the chance to greatly reduce, or in some cases, virtually eliminate state taxes for a period of time up to ten years.

Eligible businesses include firms engaged in manufacturing, financial services, and any of the state’s seven targeted technology sectors: biotechnology, aquaculture and marine technology, composite materials technology, environmental technology, advanced technologies for forestry and agriculture, information technology and precision manufacturing technology. The business must be located in one of the nine designated zones: Aroostook County, Androscoggin Valley, Downeast, Kennebec Valley, Midcoast, Penobscot Valley, PenQuis, Southern Maine, and the Military Redevelopment Zone. Click here for map.

Effective June 7, 2007, and amended effective September 20, 2007, a for-profit business engaged in the business of manufacturing anywhere in the State of Maine, meeting the qualifying criteria of the legislation, is also eligible for Pine Tree Zone benefits.

All Pine Tree Development Zone benefits can be “layered” over other available benefits. For example, Aroostook County is home to a federally designated Rural Empowerment Zone, entitling companies to federal tax credits up to $3,000 per employee. The federal tax credits can be taken in addition to the State tax credits for businesses located both in the Empowerment Zone and the Pine Tree Zone.