LEWISTON – The governor will be in town today to announce the latest beneficiaries of his Pine Tree Zone initiatives: TD Banknorth and the city of Lewiston.
TD Banknorth, parent company of the former Peoples Heritage Bank, plans to expand its customer service operation on Mollison Way. The bank has already spent about $1 million upgrading the call center and customer service facility there, and has started hiring for 30 new jobs.
“The caliber of the work force and available space” drew initial interest for the bank’s expansion, said Jeff Nathanson, spokesman for TD Banknorth. “But it helps when there’s an economic development climate that works with you to encourage expansion rather than limit it.”
Gov. John Baldacci is scheduled to hold a press conference announcing the details of the expansion with bank officials at TD Banknorth’s operations center in the Bates Mill at 10 a.m. His Pine Tree Zone program provides tax breaks and incentives for businesses willing to bring new investment in areas of the state that have experienced job loss or economic decline.
Nathanson said that in order to be eligible for PTZ incentives, the bank must offer new jobs that pay in the range of $26,000. He said there’s potential for 20 more jobs to be added as TD Banknorth pursues aggressive plans for growth.
“Lewiston stands to benefit over time because our strategy is to double the size of the company over the next few years,” said Nathanson.
The bank already employs about 1,000 people here – about 700 of whom work in the Bates Mill operations center. It has more than 2,600 employees in Maine.
The bank received Pine Tree Zone status in April of this year.
Comments are no longer available on this story