$5M New Balance gift boosts UMaine
Boston-based athletic shoe company New Balance, which has three facilities in Maine, has donated $5 million to the University of Maine to fund the renovation of its field house and Memorial Gym.
In return for the $5 million gift, the university will rename the field house the New Balance Field House and rename the fitness center the New Balance Student Recreation and Fitness Center for a 20-year period, according to the Bangor Daily News. Of the total, $2 million will fund work at the field house, and the university has a year to raise $2 million to match it. The remaining $3 million will be used for various other priorities, including the $19 million renovation of the Memorial Gym and upkeep of both facilities. The gift is the largest in the school's history and was approved Monday by the University of Maine System Board of Trustees.
New Balance has manufacturing facilities in Norridgewock, Skowhegan and Norway and operates a factory store in Oxford. The company employs nearly 1,000 employees in Maine.
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