Mainebiz

W W W. M A I N E B I Z . B I Z 25 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 Other tax reimbursements include the Employment Tax Increment Financing program, the Business Equipment Tax Relief program and technology tax credits. Community-based incentives Businesses benefi t from two powerful programs available to communities. e Community Development Block Grant Program works with municipali- ties, regional partnerships and non- profi t groups to meet development needs such as enhancing deteriorated business districts and promoting qual- ity housing, with an eye toward job creation or retention for Maine resi- dents with low to moderate income. Tax Increment Financing programs allow municipalities to use property tax revenue to help fi nance new busi- ness activity in a defi ned geographical district. Hundreds of Maine communi- ties have TIF districts. A business may approach a municipality with a proposal for investment for which a TIF district would provide fi nancing. e Maine International Trade Center, a public-private partnership sup- ported by contributions of member companies and the state, provides technical assistance, trade counseling and workshops, import and export leads and international credit reports. It also organizes international trade shows and missions abroad. MITC helped Searsport-based GAC Chemical Corp. bring in a busi- ness partner from Mexico, Dalegip America Inc. Dalegip makes industrial pigment products and entered into a contract with GAC to make pigments for U.S. markets. e deal allowed GAC to add about a dozen employees to run the new product line. MITC (pronounced mit-sea) is "a can-do organization," says John Wolanski, GAC's vice president of sales and marketing. MITC was in- strumental, he says, in connecting the two businesses, facilitating Dalegip's entry into Maine, and leveraging the connection as an advertisement of Maine to other Mexican companies. "Most people think of MITC in terms of helping Maine businesses with their export projects. Here's an example of MITC helping to attract a foreign company to Maine," Wolanski says. e Maine Technology Institute is an industry-led, publicly funded nonprofi t organization off ering capital and com- mercialization assistance, loans, grants, and partnerships to fi nance technology development projects and strengthen Maine's technology clusters. MTI also administers the Maine Technology Asset Fund, a $53 million bond pro- gram boosting research and economic development. In the third quarter of 2014 alone, MTI awarded $2.5 million in 33 grants and loans. e Finance Authority of Maine (FAME) is a business fi nance agency that supports business start-up, expan- sion and growth. e agency works with lenders to improve access to capital and help fi ll gaps in the state's capital delivery system. FAME off ers a wide array of business assistance programs, ranging from traditional loan insurance programs for both small and larger businesses, to tax credits for investments that individuals make in dynamic, growth-oriented, manufac- turing or export-related fi rms. Maine & Co. is a private non-profi t organization that works to attract new businesses and investment to Maine. Services include real estate site searches, data collection and analysis, incentives identifi cation and valua- tion, site visit coordination, workforce analysis, and fi nancing coordination. Maine & Co. is credited with decision of Massachusetts-based OnProcess Technology, a service supply chain management and optimization, to open a service delivery center in Belfast, which could bring as many as 350 new jobs to the Midcoast region and is expected to bring a $2 million investment in the purchase of new equipment, employee training and more at a 35,000-square-foot facility. Maine promotes employee educa- tion through a variety of programs. Among them are the community college system, off ering customized training in hard trades and soft skills. Lending, advice, technical assis- tance, and networking can be found through programs such as the Maine Venture Fund, a revolving, "evergreen" fund that has received $13 million in capital contributions from the state. Specializing in nearly any industry that can demonstrate the potential for high growth and public benefi t, typical initial investments range from $100,000 to $300,000. Other programs off ering business assistance include MaineBusinessWorks, Eastern Maine Development Corp., the Small Business Credit Initiative, Small Business Development Centers, Business Answers, the Business Start-Up Kit, the Small Business Advocate service, Maine Business Resource Guide and the Maine Products Marketing Program. L a u r i e S c h r e i b e r , a w r i t e r b a s e d i n B a s s H a r b o r, c a n b e r e a c h e d a t e d i t o r i a l @ m a i n e b i z . b i z A City On The Move, See What We're All About. A City On The Move, See What We're All About. Team Approach – We bring all the necessary parties to the table to help ensure your experience in Brewer is seamless and straightforward. Your Business is Our Business – Whether you're just starting out, a mature company, or somewhere in between, we're passionate about making sure you succeed. Come and See Why Brewer Means Business. Your Business. Progressive • Creative • Forward Thinking • Resourceful Progressive • Creative • Forward Thinking • Resourceful Contact: D'arcy Main-Boyington, Economic Development Director 207-989-7500, dmain-boyington@brewermaine.gov Since 1877 we have been committed to your local insurance needs. P E R S O NA L L I N E S Auto Homeowners Personal Umbrella Boat & Snowmobile Inland Marine C O M M E R C I A L L I N E S Property General Liability Commercial Auto Commercial Umbrella Business Owners Go to www.Patrons.com to find an independent Maine agent near you and achieve peace of mind by protecting yourself, your home, auto or business with our products. Insuring Maine People — Insuring Maine Business

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