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October 30, 2007

Senate considers econ. development bill

Senators Olympia Snowe and Susan Collins recently introduced the Northern Border Economic Development Commission Act, which would create a regional commission to allocate $40 million annually in grants over five years towards economic development projects in the forest areas of Maine, New Hampshire, New York and Vermont, according to a press release.

The commission would consist of representatives appointed by the governors of each state and a presidential appointee.

The act would stimulate the forest products industry, rural economies, small business development and job growth, according to the release. The bill passed in the U.S. House of Representatives earlier this month.

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