There is currently a debate in the Legislature regarding the exemption of the personal property tax on future purchases of business equipment. As a manufacturing engineer, I have the responsibility of overseeing the process control, equipment functionality and improvement opportunities for a manufacturing plant, and I work diligently to keep costs below our competition here in the states and abroad.
Each dollar an engineer saves is used to offset the high cost of doing business in Maine. If Maine businesses cannot keep costs down to compete with out-of-state businesses and countries, then business may have no choice other than to leave the state.
I grew up in Maine, went to college in Maine and graduated from Southern Maine Technical College and the University of Maine at Orono. I have several concerns with the future of Maine:
First, for my children’s ability to remain in Maine when it’s their time to enter the workplace.
Second, my own ability to stay in Maine. Even with all the education and work experience, if companies don’t invest in Maine, there will be little job opportunity for us.
Exempting the personal property tax for new equipment will definitely give Maine an advantage when businesses make decisions to expand. It will encourage companies large and small to invest in Maine. This long-term economic stimulation will greatly surpass any loss of revenue from the phase-out of the personal property tax.
Justin Bassett, Auburn