Study: Market strong for Old Town biz park
The city of Old Town's proposal to build a new business park is moving forward following positive news from a market feasibility study.
The study, presented earlier this month to city officials, found that Old Town's proximity to and partnerships with the University of Maine would attract businesses to the proposed park, according to a press release from Cashman Communications. UMaine's targeted technology sectors, including bioscience, engineering, energy and information technology, would provide strong opportunities for businesses looking to locate in the area, according to the study from PolicyOne Research Inc. in Scarborough and Camoin Associates in Saratoga Springs, N.Y.
The town is considering building a business park adjacent to the UMaine campus and across the street from Old Town Fuel & Fiber. The process is in its early stages, and the city still needs to develop plans, approve new roads and receive approval from the city council, according to the release. In July, the city received a $100,000 U.S. Department of Agriculture Rural Development grant to fund development of the park, and at the time announced that two small businesses are interested in locating there.
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