Portland Stage Company was founded in 1974 as the Profile Theatre, a touring company of young theater professionals, with the mission to "entertain, educate, and engage its audiences by producing a wide range of artistic works and programs that explore basic human issues and concerns relevant to the communities served by the theater."

The Little Festival has helped writers such as Mac Wellman, Nicky Silver, Douglas Carter Beane, Nilo Cruz, Quiara Alegría Hudes, and John Cariani land productions both on Portland Stage's Mainstage and in regional theaters around the country.

Under their leadership, Portland Stage began a holiday tradition of producing Charles Dickens' A Christmas Carol each December.

Since taking ownership of the building, Portland Stage has dramatically expanded its audience base, formed an Affiliate Artists group of local theater professionals, and launched a second season of productions, the Studio Series, which debuted in 2007.

Interns from Portland Stage have gone on to work at Berkeley Repertory Theatre, Houston Grand Opera, Manhattan Theater Club, Cleveland Playhouse and more.

Past winners have been: (2000) Laura Harrington "Hallowed Ground", (2003) Quiara Alegría Hudes "Yemaya's Belly", (2006) William Donnelly "Magnetic North", and (2009) Gregory Hischak "The Center of Gravity".