Economic & Community Development
Under the guidance of the Select Board, the Town Manager seeks to develop strong relationships in our community. We work to build a solid foundation of cooperation between business and community entities to keep Madison a great place to live, work and play. If you would like to locate a business in Madison or have an idea of how our town can be an even better place to live contact us at 207 696 3971 or at .
Opportunity Zone
Grants & Loans
Contact the Town Office at 696 3971 for an application of the Matching Grants program for 2024/2025. Or download the application form here.
Application Process
There will be an open application periods with up to $35,000 to be granted. The application period runs from November 1, 2024 through December 31, 2024.
Completed applications must be received at the Town Office by 12pm on Tuesday, December 31, 2024. Late or incomplete applications will not be processed.
Applications are reviewed by the Town Manager. Recommended proposals are brought to the Select Board for review and scoring. Businesses will be notified of the results by 4pm Thursday, January 30, 2025.
Funding Process
- Business must accept award within 30 days. Unaccepted funds will be added to the pool for the next application period.
- Invoices for work performed must be submitted by the business for funding.
- Grant funding for approved applicants will be paid out upon completion of the project. Please allow up to 60 days for payment.
- Projects not completed within 1 year of approval date will not be funded.
Businesses that receive funds for completed projects but do not open or that go out of business within the first 24 months of receiving the funds will be subject to repayment of funds at a rate of 75% for the first 12 months, and 50% after.
Since 2013 the Town of Madison has awarded over $125,000 in matching grants to local businesses to help with projects designed to make property improvements or otherwise enhance the ability to do business. 45 local businesses have received grants up to $5,000. The Town is proud to be part of over $550,000 in local economic investments.
In 2019 the Town was designated as an Opportunity Zone by the federal government because of the severity of the economic downturn with the closure of Madison Paper. Opportunity Zones are designed to attract investment of capital gains for economic development. In June of 2021 Northeastern University completed a study of three Maine communities designated as Opportunity Zones. Their recommendations include leveraging these Opportunity Zones for development that will benefit the downtown and to draw young families to the area. Click here to see the entire report.
Certified: Business Friendly
In November 0f 2014, the State Department of Economic and Community Development certified Madison as a 'Business Friendly Community'. As one of only 30 municipalities in the state the designation sets Madison apart as dedicated to positive growth.
"I want to congratulate the Town of Madison for its commitment to business excellence," said Governor Paul R. LePage. "Madison is doing what it takes to partner with business in an effort to grow our economy, attract new investment and provide a better environment for job creation."
A Leader in the Green Economy
Madison is building on the area's rich heritage of agriculture and forestry. With development in solar, hydro power, natural gas and it's own electric works, Madison is a growing energy hub. For information on opportunities to grow your business in Madison, contact the Town Office at 696 3971.
Regional Tourism Council
The Town of Madison has joined the Kennebec Valley Regional Tourism Council www.kennebecvalley.org to help promote local business and activities. The Council is made up of businesses and municipalities from Augusta to The Forks and focuses a lot of attention on the Kennebec River and Route 201. Madison has a lot to offer the tourism industry with the Lakewood Area, and access to the river for fishing and kayaking. When you have the opportunity, check out the Madison Wave at www.youtube.com.
Tax Increment Financing
The Town of Madison and Backyard Farms entered into a Tax Incentive Financing (TIF) agreement in 2006. This program captures the new property tax value associated with Backyard Farms, and sets aside the taxes paid on the new value. The taxes paid on the new value are “TIF Revenues.”
Park & Playground
Since last fall, local residents have been enjoying the 7500 square foot playground area installed at the Main Street Park. Through a series of grants and donations from local businesses and individuals, over $72,000 was raised to complete the project ahead of schedule. Thanks to all those who helped with the installation; it is truly a community project we can be proud of.
Natural Gas Pipeline
As of April 15, 2014 Summit Natural Gas completed phase one of their 70 mile pipeline with service to UPM Madison (Madison Paper). Gas is flowing to the mill and phase two will include building out the pipeline to local businesses and residents.
Natural gas is an alternative to heating oil and propane and requires converting heating systems. Businesses and residents who may be interested in converting to natural gas can contact Summit Natural Gas of Maine for more details.
Comprehensive Plan Update 2014
In 2014 updates to the Town of Madison Comprehensive Plan passed state review and were accepted by residents at the Annual Town Meeting. The process of updating the plan included a series of 10 public meetings held in 2013 where residents gave input on a number of topics including the local economy, schools, government, historical and natural resources, recreation and transportation.
