Pine Tree Zones

Pine Tree Zone Program offers manufacturers, financial service businesses and targeted technology companies access to reduced electric rates and the chance to greatly reduce or virtually eliminate state taxes up to ten years through the following exemptions, reimbursements:

  • Employment Tax Increment Financing which returns 80% of state income taxes from five or more qualified new employees for up to 10 years (See ETIF under Tax Incentives)
  • A 100% refund of corporate income tax and insurance premium tax for years one through five and 50% for the remaining five years
  • A local option Tax Increment Financing (See TIF under Tax Incentives), which does not count against a municipality’s existing TIF area and value caps
  • A 100% sales and use tax exemption for construction materials and equipment purchases.

Oxford County has designated Pine Tree Zones in Buckfield (15 acres), Oxford (336 acres), Norway (178 acres), Paris (144 acres), Waterford (23 acres), Peru (28 acres), Mexico (420 acres), Canton (145 acres), Rumford (281 acres) and Greenwood (5 acres).

Contact:

Maine Department of Economic and Community Development
Office of Business Development
Pine Tree Zone Program
207-624-7457
www.maine.gov Pine Tree Zones