The Pine Tree Development Zone (PTDZ) program is an incentive program designed to spur economic growth and job creation by making income and sales tax benefits available to eligible new and expanding businesses. Industries eligible to participate in the program include biotechnology, aquaculture and marine technology, composite materials technology, environmental technology, advanced technologies for forestry and agriculture, manufacturing and precision manufacturing, information technology and financial services.
PTDZ Program Rule
On January 13, 2020 the amended program rule number 2020-008 became effective. The PTDZ program rule can be found below.
Annual Reporting Requirements
In consideration of the COVID-19 pandemic, and the unprecedented challenges companies are currently facing as a result, we are immediately extending the report filing deadline, for both the Pine Tree Development Zone (PTDZ) and Employment Tax Increment Financing (ETIF) programs from April 15th to May 1st.
Please contact DECD’s Tax Incentive Programs’ office if you feel you will need additional time beyond May 1st to complete your annual reports.
The Legislature charges DECD with collecting information necessary for the State to administer the Pine Tree Development Zone (PTDZ) Program. To ensure full program compliance, reporting is mandatory.
All PTDZ certified businesses are required to file annual reports. Companies that are PTDZ certified, prior to December 31st each year, will be sent an annual reminder and instructions for online filing of their annual report in late February/early March.
Starting April 15, 2019, and due on that same date each year, PTDZ businesses will be required to file a PTDZ annual report, for the immediately preceding calendar year, that contain the following information:
- The total number of Maine employees and total salary and wages for those employees for the report year;
- The total number of qualified Pine Tree Development Zone employees and total salary and wages for those employees for the report year;
- The number of qualified Pine Tree Development Zone employees hired within the report year;
- The amount of investments made during the report year at the qualified Pine Tree Development Zone business location or directly related to the qualified business activity; and
- In aggregate, the estimated or total value of Pine Tree Development Zone benefits received or claimed in the report year.
On or before June 1st of each year, the DECD Commissioner shall report to its legislative oversight committee information on the PTDZ program including, but not limited to, the following:
- The names of qualified Pine Tree Development Zone businesses for the report year;
- The estimated or total aggregate amount of Pine Tree Development Zone benefits received by qualified Pine Tree Development Zone businesses in the report year; and
- Aggregate information for each of the most recent 3 report years on:
- Employment levels for all Maine employees and for qualified Pine Tree Development Zone employees and associated salary and wages for both groups of employees
- Average annual salary and wages and access to health insurance and retirement benefits for all Maine employees and for qualified Pine Tree Development Zone employees; and
- Amount of investment associated with the qualified Pine Tree Development Zone business locations or directly related to the qualified business activities.
The new law also requires the Office of Program Evaluation and Government Accountability (OPEGA) to review and provide a report of its assessment and evaluation of the PTDZ program by January 15, 2021.