Maine development organizations to get $1.1M
Two Maine economic development organizations will receive more than $1.1 million in federal funds to help assist local businesses and create new jobs in their regions.
Midcoast Council of Governments in Bath will get a $500,000 loan and $105,000 grant through the Rural Microentrepreneur Assistance Program, known as RMAP, from the U.S. Department of Agriculture Rural Development. The funds will impact businesses in Knox, Lincoln and Sagadahoc counties; the Cumberland County towns of Brunswick and Harpswell; and the Waldo county towns of Belmont, Lincolnville, Northport and Searsmont. The plan is to use the funds to assist 50 businesses, create 30 jobs and save 120 jobs.
Northern Maine Development Commission in Caribou will get a $500,000 RMAP loan for businesses in Aroostook and Washington counties; the Penobscot county towns of Mount Chase, Patten and Staceyville and three unorganized townships; and 19 unorganized townships in Piscataquis county. The plan is to use the funds to assist 18 businesses and create 45 jobs.
The funding was announced Wednesday by USDA Rural Development Acting Under Secretary Doug O'Brien.
In a prepared statement, USDA Rural Development State Director Virginia Manuel said, “These USDA Rural Development funds will have a significant impact on business and economic development in nine Maine counties, as well as a substantial impact on business development and job creation and retention in Maine. Through relending of these critical funds, a total of 68 small Maine businesses will be assisted and 165 jobs created or retained throughout our state.”
USDA Rural Development invested $462.5 million in rural Maine communities last fiscal year in the areas of homeownership, business assistance, energy and renewable energy development, water and wastewater and community facilities.
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