January 17, 2018
Business Latest News | Poll Questions | Read ID | Closings, Cancellations and Delays | Snow Storm

LePage still hopeful of landing Kestrel

The Associated Press
Robert F. Bukaty | AP | BDN
Robert F. Bukaty | AP | BDN
Gov. Paul LePage

BRUNSWICK, Maine — Maine Gov. Paul LePage says the state has put together a comprehensive package for Kestrel Aircraft Co. and is “ready to make this happen.”

LePage issued a statement Friday after a newspaper reported that hundreds of Kestrel manufacturing jobs may go to Wisconsin instead of Brunswick Landing. Alan Klapmeier, Kestrel’s CEO and chairman, told the Portland Press Herald that Maine officials failed to follow through on financing.

LePage said incentives include lease write-downs valued at $250,000 a year, property tax exemptions valued at $105,000 a year, $750,000 for building improvements and a $300,000 Community Development Block Grant.

The Midcoast Regional Redevelopment Authority stands ready to issue $10 million in tax revenue bonds. Other incentives include millions of dollars in loan guarantees and letters of credit.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like