Brunswick Landing Maintains Upward Trajectory; Maine Designates Reuse Project an Opportunity Zone

Brunswick Landing Maintains Upward Trajectory; Maine Designates Reuse Project an Opportunity Zone

Brunswick Landing, the reuse project at the former Naval Air Station Brunswick, is now home to 1,700 employees and 110 organizations, an increase of 500 jobs over the past year, the Midcoast Regional Redevelopment Authority reports. Five new companies arrived his summer, with more slated to be added by the end of the year. A number of tenants are expanding footprints at Brunswick Landing and Topsham Commerce Park to accommodate growth, the authority says. Traffic at Brunswick Executive Airport is up as well; in the first six months of the year, operations have increased 14 percent over 2017. … Brunswick Landing has been designated a federal Opportunity Zone by Maine Gov. Paul LePage (R), allowing the redevelopment to attract new investment. The Opportunity Zone program was created as part of the 2017 Tax Cuts and Jobs Act legislation as a way to encourage long-term investments in low-income urban and rural communities. The program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Zones.

Dan Cohen
Dan Cohen
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