Pine Crest Development Corp. will receive more than $1.5 million in federal dollars to support the company’s renovation of the former Moosehead-Mayo Mill in downtown Dover-Foxcroft.
The nearly $10-million redevelopment project seeks to turn the former mill into the Mayo Mill Commercial Plaza and data center, which developers say will use on-site hydroelectric power from the adjacent Piscataquis River, according to a press release from U.S. Rep. Mike Michaud.
The federal grant for the project comes from the Economic Development Administration, which announced a separate $1.5 million award for the Portland area on Friday.
The EDA expects that the Dover-Foxcroft project will create 82 jobs and attract around $8 million in private investment in the former mill.
