Lobster facility nets $750K loan
Live Lobster Co.'s work to turn a former Down East cannery into a lobster processing facility received a $750,000 boost yesterday.
The Finance Authority of Maine has approved a direct loan to Live Lobster, doing business as Lobster Web LLC, to help fund its refurbishment of the former Stinson Seafood cannery in Prospect Harbor, a village of Gouldsboro, according to a press release from FAME. The loan will help Lobster Web buy and install lobster processing equipment and make structural improvements to the facility. Live Lobster, based in Chelsea, Mass., bought the property from Bumble Bee Foods in early March, and president and CEO Antonio Bussone recently told the Ellsworth American the company plans to begin processing lobster by the end of this month. The company is also hoping to receive a $200,000 federal loan, and plans to hire between 30 and 40 people this year.
FAME also approved a $300,000 direct loan and commercial loan insurance for B&B Precision Products Inc. in Benton, which will help the manufacturer create five to 10 new jobs.
Most Recent
Most Recent
Comments