CONTACT US

Millinocket Town Office
197 Penobscot Ave,
Millinocket, Maine 04462
Phone: (207) 723-7000
Fax: (207) 723-7002
Email: humanresource@millinocket.org

Incentives

Type of IncentiveProgramPotential AmountForm of Incentive
FederalBrownfields (asssesment grants)$200,000 per property; $600,000 per community in the aggregateGrants
Brownfields (revolving loan funds)Up to $1,000,000 in loan fundsLoans
Brownfileds (cleanup funds)Up to $200,000 per site(same applicant can make up to three applications)Grants
Northern Border Regional CommissionUp to $500,000 for infrastructure projects;up to $250,000 fpr non-infrastructureGrants
CDBG (municipal infrastructure)Up to $500,000Grant
CDBG (businesses)up to $1,000,000Grant
EDA Title 1 Public Works$500,000 to $1,500,000Grants, loans, loan guarantees
USDA REAP Loan GuaranteesUp to $25 millionLoan Guarantee
USDA REAP GrantsUp to $250,000 for energy efficiency; up to $500,000 for renewable projectsGrant
New Market Tax Credits39% federal tax credit over 7 year periodTax
EB-5 Visa ProgramInvestor must invest a minimum of $1 million (or $500,000) in targeted employmentEquity/Loans
SBA Loan GuaranteesUp to $5 million (or $5.5 million for small manufacturing)Loan guarantee
Modified Accelerated Cost Recovery SystemDepends on scope and nature of investmentTax
DOE and related Renewable Energy ProgramsProject dependentGrants, loans, loan guarantees
State and LocalTax increment FinancingUp to 100% reimbursement of new tax revenue for up to 30 years; determined by local valuation and tax ratesTax
Tax increment FinancingLoans utilizing TIF Funds- project dependentLoans
Tax increment FinancingEnviromental Improvements/captial costsCash; in-kind
ETIF30%to 80% reimbursement for eligible new work income tax witholdings for up to 10 yearsTax
Pine Tree Development ZonesCorporate income tax credit up to 100% for first 5 years, 50% for next 5 years; sale and use exemptions for eligible property for up to 10 yearsTax
Business Equipment Tax ExemptionBETE exempts certain business equipment from taxationTax
Sales Tax exemption for fuel and electricity in manufacturing95% exempt from sales taxTax
New Market Tax CreditsTax credits up to 39% to investors in qualified community development entities that reinvest in certain businesses in eligible low income communities (administered by FAME)Tax
Seed Grant Program (MTI)Up to $25,000Grant
Governmental BondsDetermined by municipality and project needsBond/Loan
Private Activity BondsDetermined by municipality and project needsBond/Loan
PILOTA PILOT is a payment in lieu of taxes, made to compensate a local government for some or all of the tax revenue lost due to tax exempt ownership or use of a particular piece of real property. Usually it relates to the foregone property tax revenue.Tax

News & Events

OFFICIAL election results for the November 7, 2017 elections.

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Millinocket Marathon and Half registrations near 2,500. Runners continue to sign up for the 2017 marathon.

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Economic Development | The Town of Millinocket launches annual survey to guide economic development

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Millinocket’s rich past