Title

Politics & Co.

Authors

James McCarthy

Source

Mainebiz

Date

3-9-2015

Pages

11

Abstract

Lawmakers are considering a measure that would raise the cap of the New Markets Capital Investment Program in order for the program to continue operating. The program is used to attract private investment to businesses operating in economically distressed areas of Maine. An impact statement prepared by CEI Capital Management LLC and based on a December 2014 report compiled by economist Charles Colgan indicated that for every $1 million of New Markets credits claimed, an estimated $1.56 million will be returned to the State’s General Fund.

Subjects

Tax credits, Colgan, Charles S.

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