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Employment Tax Increment Financing (ETIF)
Provided by Department of Economic & Community Development
| Description: | ETIF is available to assist in the financing of business investment projects that create at least 5 net new, high quality jobs in Maine. An ETIF-approved business would receive either 30, 50 or 75 percent of the state income tax withholdings paid by qualified employees for up to ten years. More on Employment Tax Increment Financing (ETIF) |
| Eligibility: | Any business that hires a minimum of 5 net new employees within a two year period, where those employees are: 1) paid an income that exceeds the average per capita income in the county of employment; 2) provided with group health insurance, and; 3) provided with an ERISA qualified retirement program. The business must also be able to demonstrate that its expansion project will not go forward without ETIF funds. |
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For More Information contact:
59 State House Station Augusta , ME 04330-0059 (207) 624-9800 (207) 287-5701 | |