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V O L . X X I N O. X I V 24 FA C T BO O K / D O I N G B U S I N E S S I N M A I N E B U S I N E S S R E S O U R C E S A s part of the state's eff orts to encourage new, expanding or relocating businesses of all kinds and sizes, Maine off ers a wide variety of fi nancial and technical assistance. Maine's Department of Economic & Community Development (maine.gov/decd) is the umbrella organization for business development, with programs that guide the way to everything from targeted tax relief to community block grants, tour- ism marketing to international trade. DECD and its partners show compa- nies how to benefi t from millions of dollars in tax credits, reimbursements, research and development credits, capital loans, and direct investment — all aimed at generating and providing new private investment and new career opportunities for Maine people. Working with communities, DECD helps them attract jobs and grow their infrastructure with various fi nancing mechanisms. DECD communications man- ager Douglas Ray suggests starting with the Gov. Paul LePage's account executives (maine.gov/decd/start- grow/govs-account-execs), a team of business-development experts, each responsible for one area of the state. e team has worked with hundreds of companies — new, expanding or relocating — helping with issues from high-speed Internet access, to fi nding facilities to house employees, to helping communities and companies benefi t from the creation of special Pine Tree Development Zones and Tax Increment Financing districts to ease the tax bur- dens on new and growing businesses. " ey're the liaisons for the resourc- es available," says Ray. " ey know who to call. ey don't just refer businesses. ese account executives will actually get the answers for businesses." An advantage with Maine's re- sources is that they're performance- based, Ray says. "Maine isn't just writing out checks," he says. " e incentives these businesses get are tied to actual production, to investing in equipment, to training, to creating jobs. e more Maine com- petes, the more Mainers benefi t." Tax incentives include a num- ber of ways to recoup tax money when businesses invest in mate- rial, capital and human resources. Top programs here include the Pine Tree Development Zone program, which off ers businesses in certain sectors — biotechnology, aquaculture and marine technology, composite materials technology, environmental technology, advanced technologies for forestry and agriculture, manufac- turing and precision manufacturing, information technology and fi nancial services — the chance to greatly re- duce or virtually eliminate state taxes for up to 10 years when they create new, quality jobs or move existing jobs to Maine. Over 280 Maine busi- nesses had participated in the Pine Tree Development Zone program as of 2014. Incentives included reim- bursements from thousands to hun- dreds of thousands of dollars for taxes paid on new employees. e Pine Tree Development Zone was a signifi cant factor that helped the Madison-based tomato grower Backyard Farms decide to set up business in Maine, says spokesper- son Michael Aalto. Founded in 2005, with one greenhouse on 24 acres, the company harvested its fi rst crop in 2007 and added a greenhouse and an additional 18 acres in 2009. Today, the fi rm annually ships 25 million pounds of fresh tomatoes throughout New England and parts of New York state. Its state incentives included reimbursement of payroll tax, energy credits and sales tax exemptions. "We've been able to succeed locally and the program was a big reason why we were able to do that," says Aalto. "Bottom line, it's helped us grow the business and create over 220 jobs over in Somerset County. " P H O T O / T I M G R E E N WAY A helping hand Maine offers a number of resources that encourage business growth B y L a u r i e S c h r e i b e r M aine's business community is considered especially friendly to small businesses and start-ups. Part of the nature of Mainers is being thrifty, resourceful and adept at piecing things together in dramatically different seasons. The state has a high percentage of small businesses — typically, with fewer than 25 employees. It might seem to run counter to that Yankee spirit to see that there are actually a great number of resources available to Maine businesses of all sizes. In the pages ahead we outline local, state and federal programs designed to jumpstart growing businesses. While an entrepreneur by na- ture may prize his or her indepen- dence in bootstrapping a company, there is a wide range of programs that can provide mentoring, edu- cation, seed money, a grant or a low-interest loan. In the following pages we out- line programs that are unique to Maine, including the state Depart- ment of Economic & Community Development block grants and Pine Tree Development Zones, as well as state offshoots that have taken the lead in aiding business- es, including the Maine Technology Institute and Maine International Trade Center. For companies that are expanding, Tax Increment Financing districts can provide a key incentive. Maine may have a culture of in- dependence, but there is no need for entrepreneurs or expanding businesses to go it alone. Janine Cary, president and state director of international trade and the Maine International Trade Center, is just one of the resources businesses in Maine turn to for help in expanding. 24 Resources that encourage business growth Small Business Administration resources 27 Contacting the SBA 28 SBA's resource partners 30 SBA business loans 36 Contracting 38 SBA participating lenders I N T H I S S E C T I O N Entrepreneurs, execs: No need to go it alone

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