Eastern Maine Economic Development lands $500K grant
U.S. Sens. Susan Collins and Angus King announced today that the U.S. Economic Development Administration has awarded a $500,000 Economic Recovery Assistance grant to Eastern Maine Development Corp. The funding will be used to establish a plan to support redevelopment and revitalization in Eastern Maine and to provide assistance to businesses that have been affected by the closure of manufacturing plants.
“Collaboration between the public and private sectors is essential for promoting business expansion and robust job growth,” Sens. Collins and King said in a joint statement. “By supporting the establishment and revitalization of local businesses in Eastern Maine, this investment will help communities and entrepreneurs attract investment, create jobs, and strengthen our state’s economy.”
EMDC is a private, nonprofit organization established in 1967. The corporation is located in Bangor and serves the eastern Maine counties of Hancock, Penobscot, Piscataquis as well as portions of Waldo County.
As the only federal government agency focused exclusively on economic development, the U.S. Department of Commerce’s Economic Development Administration fosters regional economic development efforts in economically distressed communities across the United States.
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