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ME
Maine Municipal Tax Increment Financing (TIF) – Manufacturing Projects
Maine municipalities can designate Tax Increment Financing (TIF) districts to support manufacturing and industrial development; the municipality may disburse the incremental property tax directly to the investing manufacturer, use it to retire bonds issued for the project, or retain it for economic development; requires local approval and state DECD review; commonly used by Maine manufacturers for major capital expansions.
About this program
Visit the program website for full details.
Eligibility
Manufacturing businesses making significant capital investments in Maine municipalities willing to establish a TIF district; TIF must be designated by the municipality and reviewed by DECD; the manufacturing project must be within the TIF district.
Requirements
- Work with the host municipality to establish a TIF development district
- Municipality submits TIF designation to DECD for review
- Investment project must be within the TIF district boundaries