MAINE STATE CHAMBER OF COMMERCE
  • About Us
    • Connect with Us
    • Affiliates & Partners
    • Our Board
    • Meet the Team
    • President's Message
    • External Social Media Policy
  • Membership
    • Benefits of Membership
    • Join the Chamber
    • Return on Investment
    • Member Search
  • Public Policy
    • Public Hearings of Interest
    • Legislation of Interest
    • Public Policy Committees
    • Grassroot Resources
    • Find Your Legislator >
      • Representatives
      • Senators
  • Events
    • Calendar of Events
    • 2022 Annual Meeting
    • Sponsorship Opportunities
    • Business Day at the Statehouse
    • Board Meetings & Board Events
    • DC Fly-In
    • Legislative Social
    • Policy Issues Workshops
    • Regional Breakfasts
    • Scramble for Scholars
    • Webinars by The Maine State Chamber of Commerce
  • Initiatives
    • Campus Career Connect
    • Dream It. Do It.
    • Education Foundation
    • Keep Maine Competitive
    • Maine Economic Research Institute (MERI)
    • This is ME Counting on You
    • Senior Leaders of Tomorrow Development Program
  • Newsroom
    • COVID-19 Resources
    • Impact Newsletter
    • MSCC Blog
    • The Bottom Line
    • The Maine Take
    • Making Maine Work
    • MERI Roll Call
    • OneVoice Maine Magazine
    • Policy Brief Series with Educate Maine
    • Press Kit
  • Member Login

Pine Tree Development Zone bill tabled in IDEA committee

4/8/2021

0 Comments

 
On Tuesday, April 6, the Joint Standing Committee on Innovation, Development, Economic Advancement and Business (IDEA) held a work session on LD 730, An Act to Protect Economic Competitiveness in Maine by Extending the End Date for Pine Tree Development Zone (PTDZ) Benefits. In her March 23 testimony strongly supporting LD 730, Linda Caprara, senior government relations specialist for the Maine State Chamber, thanked Sen. Matthea Daughtry (D-Cumberland) for sponsoring this important bill.
The IDEA committee asked for more information on the Pine Tree Development Zone (PTDZ) program. It is extremely important this bill pass because it extends the PTDZ program by three years. The program is scheduled to sunset in December 2021. Use of the PTDZ program is one of Maine’s primary economic development programs that has helped to grow Maine’s economy and continues to do so. Since its enactment, the PTDZ program has made a significant contribution to the level of investment here in Maine. It has clearly met its intent to improve economic development in the state.

According to 2019 data from the Maine Department of Economic & Community Development (DECD), the 180 businesses enrolled in the PTDZ program represented at the time:
  • More than 7,000 employees with more than $380 million in combined payroll;
  • An average wage of $52,555 for employees; and,
  • More than $500 million in qualified investment associated with the PTDZ program.
 
Because the PTDZ program encourages investment, it aligns nicely with the goals of Maine’s Strategic Plan. The Office of Program Evaluation and Government Accountability (OPEGA) noted this in the recent interim report on the PTDZ program that was presented to the Government Oversight Committee (GOC). The goals of the state’s strategic plan are to grow the average wage by 10% to the benefit of all income levels; increase the value of what Maine sells per worker by 10%; and attract 75,000 people to Maine’s workforce from within and outside the state.

Caprara noted that the Legislature has made some changes to the program in the past few years – changes that have included clarifying job creation as the main goal of the program, requiring that companies add at least one new job before qualifying for benefits. In addition, a “but for” clause was added to provide some assurance that the program in fact does influence companies decision-making process when they decide to invest in a particular state or location. One could argue that it does or doesn’t have anything to do with the investment, but it is an additional step the business has to adhere to that helps to validate that argument.

Through the years, the Maine Legislature has clearly recognized the importance of the PTDZ program. Originally, the PTDZ program was directed at economically distressed areas of the state. However, during the 2009 recession, the Legislature voted – the House, in particular, voted overwhelmingly 142-0 (9 absent) – to make the program available to companies across the state. Legislators clearly wanted PTDZ available for use in their districts. In 2018, the Legislature voted to extend the program until December 2021.

It is crucial this program remain in place, particularly through the next few years as Maine works through the economic crisis the COVID-19 pandemic has brought to the economy. If you are concerned about keeping this program intact, please contact your legislators today. The committee’s next work session has not yet been scheduled. If you have any questions, contact Linda Caprara, by calling (207) 458-2133 or by emailing lcaprara@mainechamber.org.
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    September 2022
    August 2022
    June 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    September 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019

    RSS Feed

Copyright Maine State Chamber of Commerce. All rights reserved.
 128 State Street | Suite 101 | Augusta, ME 04330-5630
 Phone: (207) 623-4568
For media inquiries, please contact Jen Webber, (207) 939-0213
For membership inquiries, please contact Mark Ellis. (207) 623-4568
  • About Us
    • Connect with Us
    • Affiliates & Partners
    • Our Board
    • Meet the Team
    • President's Message
    • External Social Media Policy
  • Membership
    • Benefits of Membership
    • Join the Chamber
    • Return on Investment
    • Member Search
  • Public Policy
    • Public Hearings of Interest
    • Legislation of Interest
    • Public Policy Committees
    • Grassroot Resources
    • Find Your Legislator >
      • Representatives
      • Senators
  • Events
    • Calendar of Events
    • 2022 Annual Meeting
    • Sponsorship Opportunities
    • Business Day at the Statehouse
    • Board Meetings & Board Events
    • DC Fly-In
    • Legislative Social
    • Policy Issues Workshops
    • Regional Breakfasts
    • Scramble for Scholars
    • Webinars by The Maine State Chamber of Commerce
  • Initiatives
    • Campus Career Connect
    • Dream It. Do It.
    • Education Foundation
    • Keep Maine Competitive
    • Maine Economic Research Institute (MERI)
    • This is ME Counting on You
    • Senior Leaders of Tomorrow Development Program
  • Newsroom
    • COVID-19 Resources
    • Impact Newsletter
    • MSCC Blog
    • The Bottom Line
    • The Maine Take
    • Making Maine Work
    • MERI Roll Call
    • OneVoice Maine Magazine
    • Policy Brief Series with Educate Maine
    • Press Kit
  • Member Login