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.
Grants & Loans
The Town of Madison is proud to offer a Revolving Loan Program and a Matching Grant Program. Click here for a loan application. Contact the Town Office at 696 3971 to find out when the next Matching Grants will be available.
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.
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."