Maine Data and Stories

State Fact Sheet

Map of Selected Projects in Maine

Community Testimonials

One of the greatest tools at our disposal for boosting US-based manufacturing is the New Markets Tax Credit Program. For 25 years, the New Markets Program has incentivized the investment of private capital into companies creating good jobs in communities with low incomes. From tissue production in northern Maine, to peanut shelling in Georgia, to windows manufacturers in Missouri, the capital incentivized via the New Markets Tax Credit Program has been key to the creation or expansion of a diverse range of manufacturers, which are revitalizing communities, particularly in rural areas. Despite more than two decades to proven success, the New Markets Tax Credit Program is set to expire at the end of 2025. To support this vital program, I am encouraging Congress to support America’s low-income rural communities and urban neighborhoods by cosponsoring the NMTC Extension Act of 2025.

-Traci Vaine, CEI Capital Management LLC

Selected Projects in Maine

MedRhythms, Inc.

Portland,
ME
(2023)

Healthcare

CDE(s): Advantage Capital, Community Development Venture Capital Alliance

MedRhythms, Inc. (“MedRhythms”) is a digital therapeutics company using sensors, software, and music to deliver Auditory-Motor Entrainment (“AME”) therapy to chronic stroke survivors. Rhythmic auditory stimulation unconsciously synchronizes with the

Seaport Community Health Center

Belfast,
ME
(2023)

FQHCs

CDE(s): Evernorth Rural Ventures

New Markets Tax Credit Investment to Expand Penobscot Community Health Care’s Seaport Community Health Center

Go Lab

Madison,
ME
(2021)

Business Development, Incubator

CDE(s): Mascoma Community Development, MHIC

A New Markets Tax Credit transaction funds construction of a wood-fiber insulation factory at the former UPM paper mill in Madison.

MedRhythms, Inc.

Portland,
ME
(2021)

Manufacturing

CDE(s): Advantage Capital, Community Development Venture Capital Alliance

MedRhythms is the developer of a digital therapeutics platform to deliver rhythmic auditory stimulation therapy to chronic stroke survivors. While RAS therapy typically takes place in a clinical setting, MedRhythms’s

80 Exchange, LLC.

Portland,
ME
(2018)

Mixed-use, Restaurants and Catering, Retail

CDE(s): Mascoma Community Development

NMTC financing totaling $2,000,000 to was used to improve a 13,087 sq. ft. commercial building located at 80 Exchange Street in Portland, ME. Tenants consist of various restaurants, retail and

Vets Choice

Portland,
ME
(2017)

Manufacturing

CDE(s): Advantage Capital

Financed hip, modern offices of Vets First Choice on Commercial Street in Portland. The company provides pharmacy services for animal care at its 170,000 sq. ft. headquarters.

St. Croix Tissue

Baileyville,
ME
(2014)

Business Development, Manufacturing, Rural

CDE(s): CEI Capital Management

The tissue production facility has created 80 direct, full-time jobs, while preserving the 320 jobs at the Woodland Pulp facility.

Quoddy

Lewiston,
ME
(2013)

Business Development, Manufacturing

CDE(s): Advantage Capital

Established over 100 years ago, Quoddy is a high-end, hand-sewn shoe manufacturer.

Athens Biomass

Athens,
ME
(2013)

Business Development, Energy, Manufacturing, Rural, Timber and Agriculture

CDE(s): CCG Community Partners

An existing successful vertically-integrated, third-generation family owned white wood pellet manufacturing and timberland business based on a 55-acre site in rural Athens, ME, added a new all-in-one biomass processor, boiler

Molynlycke Health Care manufacturing

Brunswick,
ME
(2012)

Business Development, Manufacturing

CDE(s): CEI Capital Management

The purchase and installment of medical manufacturing equipment at US processing facility of Mölnlycke, a Swedish-owned wound-care manufacturing, eliminating need to ship product overseas for conversion.

Educare Central Maine

Waterville,
ME
(2011)

Community, Daycare and Early Childhood, Rural, Youth and Families

CDE(s): CEI Capital Management

NTMC financing funded Educare Central Maine, the first Educare site in New England.

Grand Lake Stream Woodlands

Grand Lake Stream,
ME
(2009)

Affordable Housing, Manufacturing, Rural, Timber and Agriculture

CDE(s): CEI Capital Management

Grand Lake Stream Plantation is a town located in rural Washington County, Maine.

Site visits and recent news related to Maine NMTC Projects

Sen Collins, Sen. King, former Rep. Poliquin tour St. Croix Tissue

Wednesday was the official ribbon cutting for the two new machines at the St. Croix Tissue Mill. Members of Maine’s congressional delegation said this new investment will push Maine to the forefront of the paper industry.

Learn more...

Aug-2016

$65M in federal funds will expand tax credits for manufacturing growth in Maine, nationwide

September 24, 2024

NMTC Investments help Moosehead businesses expand and diversify to support region’s tourism economy

June 21, 2022