- Associated Press - Thursday, March 17, 2016

AUGUSTA, Maine (AP) - Maine’s Legislature has approved a bill designed to attract big businesses to the state by creating a new fund for large employers.

The Maine Senate approved the bill by a count of 33-1 on Thursday. The bill would create a fund to support business developments that invest at least $50 million in Maine.

Businesses would also have to create or retain at least 250 jobs and pay employees at least 125 percent of the state’s average wage.

Supporters say the fund would operate like a mutual fund for business investments. They say the enactment of the bill would not require that the state obligate taxpayer money to the fund.

The bill is headed for the desk of Gov. Paul LePage for potential signature and final approval.

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