“At $0.08 per pound of renewable chemicals produced, this tax credit is competitive with existing renewable chemicals legislation, and reinstates a biofuel production tax credit at $0.05 per gallon. Our Pine Tree Development Zone program offers a tax credit for up to ten years when businesses create new, quality jobs in certain sectors, or move existing jobs in those sectors to Maine. And Maine is home to 32 Opportunity Zones, a community investment tool established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities.”
