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."