Both sides weigh in as Pine Tree Development Zone tax incentive program faces renewal

The program is again up for renewal, and voices of support and opposition came out to be heard at a Feb. 15 public hearing convened by the Joint Standing Committees on Appropriations and Financial Affairs and Innovation, Development, Economic Advancement & Business (IDEA).

“This program has been extended and redesigned many times, and yet, evaluations from the Legislature’s watchdog agency determined that the program is unable to show evidence of efficacy, despite the legislature’s attempts to improve it,” noted Maura Pillsbury, a tax analyst at the Maine Center for Economic Policy, in testimony dated Feb. 15.

Click here to read the full story, first published March 3, 2023 in MaineBiz.