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A bill to restart the Maine Seed Capital Tax Credit program rests now at the state's special appropriation table, where lawmakers will decide if the investment-encouraging program will continue.
The Bangor Daily News reported Tim Agnew, a principal at Masthead Venture Partners in Portland, told the paper that the bill's placement at the special appropriation table is not a good sign for continuation of the program, which supporters say has encouraged investment in Maine companies.
The program hit its $30 million cap earlier this year. It allowed state income tax credits of up to 60% of their cash equity to eligible Maine businesses, spread over four years.
Agnew told the BDN that if the program is not restarted, he estimates investment in early stage Maine companies could fall between 50% to 75%.
Right now, nearly 85 bills remain at the special appropriation table and will compete for just over $1 million.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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