HomeMy WebLinkAbout2003-04-28 03-146 RESOLVEItem No. 03-166
Date: April 28, 2003
Item/Subject: RESOLVE, Supporting Governor John E. Baldacci's Program to Create Pine
Tree Development Zones as a Mechanism for Economic Development in the State of Maine.
Responsible Department: Business and Economic Development
Commentary: As part of his economic stimulus plan, Gov. John Baidacci recently
revealed a program to create a series of Pine Tree Development Zones. These "tax free"
zones will be used to lure new business ventures into the state or to support business
expansions and will provide significant tax incentives over a period of 10 -years.
Utilization of the zones will be limited to businesses that are within the seven targeted
development sectors established by the state, as well as financial services and
manufacturing. The zones will be located m regions of economic 'distress" and will
create a unique marketing opportunity for business attraction.
The Business and Economic Development Committee reviewed this proposal and
unanimously supported preparation of this resolve.
Department Head
Manager's Comments:
Recommend approval.
City Manager
Associated Information:
Finance Director
Legal Approval:
City Solicitor
Introduced for v
X ?swage
First Reading
Referral
Page 1 of 1
03-166
xs6igned to lfr ble April 28, 2003
CITY OF BANGOR
(TITLE.) Resolve, Supporting Governorlohn E. Baldacc s Program to Create Pine
Tree Development Zones as a Mechanism for Economic Development in the State of
Maine.
WHEREAS, the Governor of the State of Maine, In his effort to stimulate economic
development and job creation in the state, has establishment an innovaUve
program of designated "tax free" districts known as Pine Tree Development
zones; and
WHEREAS, such zones will be established in those regions of the state that are most In need
of new jobs and investment and the economic spin-offs that are created by them;
and
WHEREAS, the Pine Tree Development Zones will provide the necessary incentives to make
the State of Maine more attractive as a location to develop new business ventures;
and
WHEREAS, the businesses that will be eligible to utilize the Pine Tree Development Zones are
within the state's designated targeted technologies; and
WHEREAS, as the service center to a portion of the state where many of these Pine Tree
Development Zones will be located, the City of Bangor will reap the economic
benefits of the business enterprises that will sake advantage of this new
development program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BANGOR THAT we hereby support the Pine Tree Development Zone Program Initiated by
Governor John E. Baldacci and pledge our support to work with the administration to further the
application and implementation of this concept as a needed economic development tool for the
State of Maine.
BE IT FURTHER RESOLVED, THAT copies of this resolve be made available to Governor John
E. Baldacci and to the members of the State Senate and House representing districts that
include Bangor.
IA CITY COUNCIL
APcil 38. 2003
Marlon Made and
Seconded for Passag£
Passed
cI
g 03-166
RESOLVE
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