Resources to Help You Grow
Maine offers a range of incentives, financing opportunities, and workforce development programs designed to help businesses invest, expand, and succeed. FirstPark can connect you with the right state and regional partners — from tax incentives and financing programs to employee training and workforce assistance — so you can take advantage of the resources available to help your business grow.
State Tax Incentives
Dirigo Business Incentives
The Dirigo Business Incentives are sector-targeted business credits offering eligible for-profit businesses the opportunity to reduce state taxes for up to five years. To be eligible, businesses must make significant capital investments or provide qualified employee training.
- 10% capital investment tax credit in Kennebec and Somerset Counties.
- $2,000 per employee provided a qualified employee training program annually.
- Credit capped at $2 million per business per year, can be taken over five years. Up to $500,000 of the credit would be refundable per year.
Learn more and apply for Dirigo Business Incentives.
Maine Seed Capital Tax Credit
The Maine Seed Capital Tax Credit encourages equity investments in Maine businesses. The Finance Authority of Maine (FAME) may authorize state income tax credits equal to 40% of the cash equity provided for qualified investment. Investments may be used for fixed assets, research, or working capital.
Learn more and apply for the Maine Seed Capital Tax Credit.
Technology Tax Credits and Sales Tax Exemptions
Maine offers a range of technology-focused credits and exemptions, including:
- Research Expense Tax Credit
- Renewable Chemicals Tax Credit
- Biofuels Production Tax Credit
- Maine Renewable Energy Equipment Tax Exemption
- Sales Tax Exemptions
Financing
Finance Authority of Maine (FAME)
The Finance Authority of Maine (FAME), a quasi-governmental agency, offers a variety of innovative, flexible solutions that address the needs of Maine businesses in a changing economic landscape. Business financing options through FAME include:
- Direct Loan Programs
- Agricultural Loan Programs
- Bond Programs
- Equity Capital and Tax Credit Programs, including the Maine New Markets Capital Investment Program
Federal New Markets Tax Credits (NMTC)
The Federal New Markets Tax Credit Program incentivizes private investment in underserved communities through federal tax credits. The program helps businesses access flexible and affordable financing — including lower interest rates, subordinated debt, lower origination fees, higher loan-to-values, lower debt coverage ratios, and longer maturities.
Learn more about the Federal New Markets Tax Credit Program.
Maine Technology Institute (MTI)
The Maine Technology Institute (MTI) is a publicly funded, nonprofit corporation that offers grants, loans, equity investments, and services to support Maine's innovation economy. MTI supports the creation of new products, processes, and services, generating high-quality jobs across Maine. MTI award programs include:
- Business Innovation Funding
- Maine Entrepreneurial Resource Corps
- Federal Funding Assistance
- Event Sponsorships
Municipal Tax Increment Financing (TIF)
A Tax Increment Financing (TIF) District is an area within a municipality designated as a development district, allowing the municipality to leverage new property taxes generated by a specific project. The municipality may disburse the tax increment directly to the investing business to help pay project costs, use it to retire bonds issued as part of the project, or retain it for allowable economic development purposes. A business may approach a municipality with a project for which a TIF district would provide financing.
Community Development Block Grants (CDBG)
Each year, the Department of Housing and Urban Development provides grants through the Community Development Block Grant program to states, cities, and counties. The program aims to develop viable urban communities and expand economic opportunities. The State of Maine distributes funding to eligible communities.
Learn more at the federal level. Learn more at the state level.
Workforce Training
Maine Quality Centers
Under the Maine Quality Centers program, businesses can take advantage of free or low-cost workforce training for new or current employees. The program also administers the Put ME to Work initiative, which provides businesses with half the start-up costs to create training programs for high-wage jobs.
Maine Workforce Development Compact
The Maine Workforce Development Compact is comprised of Maine businesses, associations, nonprofits, and municipalities committed to working together to solve Maine's workforce challenges. The Harold Alfond Center for the Advancement of Maine's Workforce has access to $60 million in grant funding, with streamlined access for Compact members. Training can occur at a community college, through a third-party vendor, or through company-based programs. All Maine companies qualify, with additional resources available to small- and mid-sized companies.
Maine Apprenticeship
Maine works with employers to cover the costs of customized, on-the-job training and classroom programs that provide employees with professional credentials.
Maine Economic Development Strategy 2020–2029
In 2019, Maine released its 10-year economic development plan, aiming to foster collaboration among the public, private, nonprofit, and education sectors to grow and diversify Maine's economy. Given the significant changes brought by the COVID-19 pandemic, Maine published a comprehensive update in 2024. Both reports — Maine Economic Development Strategy 2020–2029: A Focus on Talent and Innovation and The 2024 Reset — are available from the Maine Department of Economic and Community Development.
View Maine's Economic Development Strategy →
