Augusta Economic Development - Augusta, ME

Augusta Office of Economic Development

Department Mission

The Augusta Office of Economic Development, located within the Augusta City Center, is dedicated to fostering a vibrant economic climate in Maine's capital city. Operating as a bureau under the Department of Development Services, this office serves as the catalyst for business growth, investment attraction, and community revitalization. The department works closely with the City Council, local businesses, and regional partners to implement strategies that enhance Augusta's position as a service center for Central Maine. The ultimate goal is to create a sustainable economy that provides quality jobs, supports local entrepreneurship, and maintains a high quality of life for residents.

Business Services and Incentives

The Economic Development team provides a comprehensive suite of services to both existing businesses and prospective investors. A key tool in their arsenal is the management of Tax Increment Financing (TIF) districts, which allow the city to reinvest new property tax revenues into infrastructure and development projects. The office also assists with site selection, helping companies identify optimal locations within the city's industrial parks or historic downtown. They guide developers through the municipal permitting process, ensuring a streamlined experience from concept to completion. Additionally, the department administers grant programs, such as Community Development Block Grants (CDBG), to support facade improvements and small business expansion.

• Business Attraction: Marketing Augusta to new industries and retailers.
• Incentive Management: Administering TIF districts and Credit Enhancement Agreements.
• Site Selection: Maintaining an inventory of available commercial and industrial properties.
• Downtown Revitalization: Supporting the growth and renovation of the Water Street district.
• Grant Administration: Securing and managing state and federal development funds.

City Center Location

The Economic Development office is housed in the Augusta City Center at 16 Cony Street, overlooking the Kennebec River. This central location places the team in close proximity to other vital city departments, such as Planning and Code Enforcement, facilitating a cohesive approach to development projects. The City Center is a hub of municipal activity, and the Economic Development staff is available during standard city business hours to meet with entrepreneurs and stakeholders. The building offers a professional setting for discussing sensitive business plans and financial incentives.

Strategic Partnerships

Success in economic development requires strong collaboration. The Augusta office works in tandem with the Kennebec Valley Chamber of Commerce, the Augusta Downtown Alliance, and the State of Maine Department of Economic and Community Development. These partnerships amplify the city's efforts to retain major employers, such as MaineGeneral Health and state government agencies, while nurturing a growing sector of small businesses and startups. The Director of Economic Development often acts as a liaison between the private sector and city leadership, advocating for policies that support a pro-business environment.