The Eastern Maine Development Corp.'s Comprehensive Economic Development Strategy calls for the four counties it covers to draw on quality of life and collaboration strengths, while focusing on broadband, transportation, climate resilience, workforce and growing businesses.
Former Katahdin Chamber of Commerce Director Peter Jamieson will promote economic development in Millinocket, East Millinocket, Medway, Patten, Mount Chase, Sherman, Stacyville and Island Falls in the position that was created in 2018.
The plan by Millinocket, East Millinocket and Medway is only the third regional one in the state. But the towns, with support for Eastern Maine Development Corp., say the collaborative effort will build a strong economic foundation in western Penobscot County.
For the eight towns straddling Penobscot and Aroostook counties, economic growth may come as the result of a steady stream of "micro-transformations," led by entrepreneurs motivated by outdoor attractions — and the pandemic.
Up to $6.28 million in Labor Department funds awarded will go toward building employment and expanding life-changing services in areas of Maine affected by the opioid crisis.The grant follows others last year, but the crisis is far from resolved.
Community Concepts Finance Corp., Coastal Enterprises Inc. and Eastern Maine Development Corp. are Community Development Financial Institutions, private sector financial institutions that may receive federal funding from the U.S. Treasury. CDFIs like to say they offer personal attention, quick action and flexibility, stepping in where conventional lenders won't.
The Cooperative Development Institute has received two grants totaling more than $400,000 in public and private funds to support business ownership transitions in rural Maine.
Brien Walton, director of Husson University's Center for Family Business, has been named chairman and CEO of the Acadia Capital Management consortium of Community Development Entities.