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 Incentive Program Potential Amount Form of Incentive
Federal Brownfields (assessment grants) $200,000 per property; $600,000 per community in the aggregate Grants
Brownfields (revolving loan funds) Up to $1,000,000 in loan funds Loans
Brownfields (cleanup funds) Up to $200,000 per site(same applicant can make up to three applications) Grants
Northern Border Regional Commission Up to $500,000 for infrastructure projects;up to $250,000 fpr non-infrastructure Grants
CDBG (municipal infrastructure) Up to $500,000 Grant
CDBG (businesses) up to $1,000,000 Grant
EDA Title 1 Public Works $500,000 to $1,500,000 Grants, loans, loan guarantees
USDA REAP Loan Guarantees Up to $25 million Loan Guarantee
USDA REAP Grants Up to $250,000 for energy efficiency; up to $500,000 for renewable projects Grant
New Market Tax Credits 39% federal tax credit over 7 year period Tax
EB-5 Visa Program Investor must invest a minimum of $1 million (or $500,000) in targeted employment Equity/Loans
SBA Loan Guarantees Up to $5 million (or $5.5 million for small manufacturing) Loan guarantee
Modified Accelerated Cost Recovery System Depends on scope and nature of investment Tax
DOE and related Renewable Energy Programs Project dependent Grants, loans, loan guarantees
State and Local Tax increment Financing Up to 100% reimbursement of new tax revenue for up to 30 years; determined by local valuation and tax rates Tax
Tax increment Financing Loans utilizing TIF Funds- project dependent Loans
Tax increment Financing Enviromental Improvements/captial costs Cash; in-kind
ETIF 30%to 80% reimbursement for eligible new work income tax witholdings for up to 10 years Tax
Pine Tree Development Zones Corporate 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 years Tax
Business Equipment Tax Exemption BETE exempts certain business equipment from taxation Tax
Sales Tax exemption for fuel and electricity in manufacturing 95% exempt from sales tax Tax
New Market Tax Credits Tax 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 $25,000 Grant
Governmental Bonds Determined by municipality and project needs Bond/Loan
Private Activity Bonds Determined by municipality and project needs Bond/Loan
PILOT A 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

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Our Katahdin settles IRS lien Re-development moves forward

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Millinocket named an AARP Age Friendly Community

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