LEWISTON – A financial services company that came to Maine last year for its work force is poised to grow, enhanced by its new Pine Tree Zone designation.

Now all it needs is a sustained rebound in the mortgage market.

Watterson-Prime, a division of FIS Capital Markets, researches and analyzes the strength of mortgage investments for clients across the United States. It opened an office at the KeyBank Plaza Business Service Center last summer before the subprime debacle put the brakes on its expansion plans.

But Mary Backman, regional manager for the operation, said things are beginning to turn around in the mortgage investment market. And as it does, Watterson-Prime will gear up.

“We have great hopes for this office,” she said, noting the company has a handful of employees now, but space for 35 in its current configuration. “The product we’ve been able to provide to our customers has been great.”

As those new hires come on, Watterson-Prime will be able to save up to 80 percent of the state withholdings on income taxes of those employees because of its Pine Tree Zone designation.

“That was the most attractive (benefit) to us,” Backman said.

The state launched its Pine Tree Zone initiative in 2004, offering performance-based reimbursements and tax credits to eligible companies to spur economic development. More than 155 companies have been certified as eligible for the program, including five recent additions in the Lewiston-Auburn area. Combined, the companies expect to bring more than 60 new jobs to the area.

Joining Watterson-Prime as recent designees are Formed Fiber Technologies, Downeast Networks, Maine Oxy and Innovex Technologies.

• Innovex Technologies, a company that designs and manufactures building control systems, intends to use the PTZ benefits for building improvements and to train employees. Its $762,000 investment is projected to net 21 new jobs, probably sooner than the 2½-year time frame outlined in its application, said owner Peter Hefferen.

“We’re up to our eyeballs in work,” he said. The company is focusing on customizing control systems – heat, security, ventilation, electrical and more – for buildings 100,000 square feet and smaller.

• FFT, a manufacturer of specialty liners for automotive makers, intends to add a state-of-the-art, non-woven manufacturing line. The company projects a $6.3 million investment to build the new facility, purchase equipment and train employees. Twelve new jobs are expected.

• Maine Oxy-Acetylene Supply Co. is building a 200,000-square-foot facility to expand sales to gas and manufacturing markets. It will use the PTZ benefits to purchase equipment, building improvements and staff training. Six new jobs are expected.

• Downeast Networks is a start-up company providing network and technology consulting to small and medium sized businesses. Five new jobs are expected.