MEXICO – Selectmen on Wednesday unanimously approved placing a proposal to establish a Pine Tree Zone on the town meeting warrant.
The action came following a public hearing and explanation of the proposed economic zone by River Valley Growth Council Executive Director Scott Christiansen.
Christiansen assured selectmen and the dozen or so residents at the meeting that designating a Pine Tree Zone will not affect municipal property taxes.
The tax breaks for businesses that decide to locate or expand in the zone will come from the state, he said.
The only impact is the possibility that any property in town may rise in value if new businesses are brought in.
Town Manager Joseph Derouche said that of the five towns in the River Valley that were successful in getting at least one parcel designated as a Pine Tree Zone, Mexico has the largest acreage.
Nine landowners own a total of 460 acres in Mexico’s Pine Tree Zone. All have agreed to place their land in such a zone.
Derouche said the zone extends from the Big Apple to the Dixfield town line. All land is on the north side of Route 2.
Other towns in the River Valley with Pine Tree Zones are Rumford, Dixfield, Canton and Peru.
The state will provide several tax incentives for new manufacturing or financial services businesses that locate in those zones.
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