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Earlier this summer, the Berkeley, Calif.-based nonprofit American Jobs Project released a 57-page report that included 15 recommendations its authors said would enable Maine to fully capitalize on offshore wind's job growth opportunities. They also noted many of those recommendations would benefit other businesses and sectors as well. For example, the report recommends that the state eliminate the annual $5 million limit on tax credits allowed under the Maine Seed Capital Tax Credit program, which is designed to encourage equity investments in capital-intensive industries, directly and through private venture capital funds. The report notes that most years the limit is reached well before the end of the year, causing potential investors to hold off in hopes of tapping the program’s available tax credits the following year. “This delay can ultimately depress the business environment in Maine, leading to decreased startup activity,” the report stated.
Should Maine lawmakers lift the annual $5 million cap in the Maine Seed Capital Tax Credit program when the new Legislature convenes in January 2019?
Comments

08/08/18 AT 03:42 PM
If it is delaying development that needs the tax break to be profitable, then it may be problematic for that business' viability. However, if the delay is simply to gain the small advantage, then the delay is unwarranted.

08/08/18 AT 01:06 PM
Absolutely not. These pork barrel wind projects are A) unreliable sources of electricity, B) incredibly expensive and cannot be afforded without massive government subsidies which in reality is our tax dollars being wasted and C) the only people getting rich are the ones doing the installation. Not one single wind project has proven to be able to even break even on costs in 20 years; this madness needs to end now. Find other ways to separate the wind projects from the usual and customary seed capital pork barrel projects and actually do something productive for the residents of Maine for a change.
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