May 22, 2015
Tax break approved for Augusta aviation firm
The Augusta City Council has approved a tax break that will help Maine Instrument Flight build a new hangar to accommodate more space for customers.
The Kennebec Journal reported that the tax increment financing plan, approved on Thursday, will refund 50% of taxes on new development to Maine Instrument Flight for the next 18 years. That is projected to amount to about $4,800 a year.
Bill Perry, owner of Maine Instrument Flight, said the lack of extra hangar space in the past at Augusta State Airport has caused the company to lose business from plane owners and operators. Building a new $650,000 hangar is expected to help change that.
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