Post by Logan on Mar 18, 2016 5:31:28 GMT -6
Maine lawmakers approved a bill Thursday intended to create a new financing program to lure big businesses to the state, but did not provide a method to fund it.
The bill, approved by the Senate in a 33-1 vote, creates a fund to support business developments that invest at least $50 million in Maine, create or retain at least 250 jobs and pay employees at least 125 percent of the state’s average wage. For all occupations and wage earners, the Maine median hourly wage in 2014 was $16.29, of which 125 percent is $20.36.
Backers of L.D.1480 emphasized that the creation of the program does not commit any taxpayer money.
“I must stress, this fund is not intended to be capitalized by taxpayers’ dollars,” said Sen. Stan Gerzofsky, D-Brunswick, who submitted the bill. “Nor will it put Maine taxpayers on the hook should any investments fail. I know this is an important factor for this committee and many of us in the Legislature.”
Read more: www.pressherald.com/2016/03/17/lawmakers-pass-bill-that-aims-to-bring-big-business-to-maine/
The bill, approved by the Senate in a 33-1 vote, creates a fund to support business developments that invest at least $50 million in Maine, create or retain at least 250 jobs and pay employees at least 125 percent of the state’s average wage. For all occupations and wage earners, the Maine median hourly wage in 2014 was $16.29, of which 125 percent is $20.36.
Backers of L.D.1480 emphasized that the creation of the program does not commit any taxpayer money.
“I must stress, this fund is not intended to be capitalized by taxpayers’ dollars,” said Sen. Stan Gerzofsky, D-Brunswick, who submitted the bill. “Nor will it put Maine taxpayers on the hook should any investments fail. I know this is an important factor for this committee and many of us in the Legislature.”
Read more: www.pressherald.com/2016/03/17/lawmakers-pass-bill-that-aims-to-bring-big-business-to-maine/