September 15, 2008
Grant to help midcoast with base closure
By The Mainebiz News Staff
The business community in the midcoast area has received a $750,000 grant to help businesses in the area cope with the closure of the Brunswick Naval Air Station.
The U.S. Department of Agriculture's Office of Rural Development has granted $750,000 to the Midcoast Council for Business Development and Planning to provide "gap financing" for businesses already seeking loans from other sources to reorganize once the Brunswick Naval Air Station closes in 2011, emptying the town of about 4,000 base residents and $187 million in economic impact, according to the Times Record in Brunswick.
The Midcoast Council for Business Development and Planning will match that grant with $210,000 raised from local communities and state grants.
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