$979K to assist rural Maine businesses
The U.S. Department of Agriculture has awarded $979,250 to support businesses and economic development initiatives in northern and Down East Maine.
Great Northern Cottage Capers is receiving a majority of the funds through a $920,000 business and industry guaranteed loan to help it purchase Acadia Cottages in Southwest Harbor, the USDA announced Thursday. The property has 11 cottages and will help the company accommodate an anticipated high volume of visitors every year.
The town of Howland is receiving a $37,500 rural business enterprise grant to help it fund a market study and plan to redevelop the former Howland Tannery facility. The project is part of the town’s plan to attract private investment on and around the site. The funds will help create two jobs and assist three businesses.
The Piscataquis County Economic Development Council is receiving a $21,750 rural business enterprise grant to help create a revolving fund for small and emerging business in the commercial sector. The council is represented by member towns across the county.
Virginia Manuel, state director of USDA Rural Development, said in a prepared statement that “these important investments will encourage economic growth and business development in rural Maine communities through strategic planning and development, community relending, and promotion of Maine’s thriving tourism sector — all of which create jobs and bolster the growth of Maine’s rural economy."
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