For the past year, the Fort Fairfield Economic Development Board has been meeting regularly to investigate ways to improve the economic climate of the community. The Board has met with numerous local and regional business leaders, officials from several non-profit organizations, and economic development experts in an effort to learn more about the challenges and opportunities that exist in the region.
After assessing the community’s assets, including several attractive, town-owned development lots, the Board began work on a program to attract new investment and create jobs through an incentive program. After careful consideration and hours of effort, the Fort Fairfield Town Council recently approved the Board’s plan to create the Fort Fairfield Municipal Land Incentive Program (MLIP). The MLIP will reward developers who meet the program’s criteria with a parcel of land at no cost after five years in return for their investment in the community.
To participate in the MLIP an organization must create or relocate a business to Fort Fairfield that employs a minimum of two people full time. Interested developers will be required to submit a business plan and building designs as part of the application process. Once that application is approved, the Town will sell the developer the land with interest and payments deferred for five years. At the end of the five year period, if the project is in good standing, the parcel will then be fully conveyed to the developer.
“The goal of this program is to generate interest in Fort Fairfield as a location to start and grow a business,” explained Tim Goff, Marketing and Economic Development Director for the Town of Fort Fairfield. “Our community has a lot to offer – good schools, affordable land, an attractive downtown and a Town Council that is committed to seeing our economy grow. The Fort Fairfield Economic Development Board has worked very hard to create a program that is simple and streamlined while making sure everyone’s best interests are served. We are excited to work with developers interested in the MLIP to explore the options and parcels available through this program that will help them reach their business goals while growing our tax base and creating jobs.”
The initial parcel approved for development under the MLIP is an approximately 5 acre, commercially zoned lot located on High Street. The parcel is served by town water and sewer, has existing electrical infrastructure in place and has multiple access points. The lot, which is adjacent to downtown, is also highly visible along a busy stretch of road.
“We believe this location, close to the heart of our community, but also insulated from residences is the perfect opportunity for many uses,” stated Goff. “This 5 acre lot, which once housed several potato barns and a rail spur, is a prime location for development. We envision anything from light manufacturing to retail could be built here and are happy to meet with anyone with a vision for building their business in this location, or in Fort Fairfield.
For more information about the Fort Fairfield Municipal Land Incentive Program please click here or to contact Marketing and Economic Development Director Tim Goff at 472-3802 or email email@example.com