AUGUSTA, Maine — The Maine Department of Economic and Community Development (DECD) has announced that 13 municipalities from Fort Kent to Brunswick have been awarded funding under the Community Development Block Grant (CDBG) Program administered by the Office of Community Development within DECD.
The latest round includes funding from the Economic Development and Micro-Enterprise Assistance grant programs.
“These grant awards will have a direct impact on the creation of new career opportunities for Maine people,” said DECD Commissioner George Gervais. “The investments made in these communities not only benefit these particular businesses, but the entire state. The grants are another example of our commitment to becoming better partners with the private sector, leveraging new private investment to achieve greater prosperity across Maine.”
Presque Isle and Caribou are among the communities and businesses benefiting from EDP awards.
In Presque Isle, Acme Monaco will receive $690,000 for purchase of equipment, creating 23 jobs, matched by $2,310,000 from the business.
And in Caribou, Virtual Managed Solutions will receive $150,000 for purchase of equipment and working capital, creating five jobs, matched by $367,833 from the business.
The Economic Development Program (EDP) provides communities with gap funding to assist identified businesses in the creation and/or retention of jobs for low and moderate income people. The $2,700,000 allocated for 2015 is administered by DECD as part of the federally funded Community Development Block Grant Program
The Micro-Enterprise Assistance (MEA) Grant Program provides grant funds to assist in innovative solutions to problems faced by micro-enterprise businesses. Assistance to businesses may be in the form of grants or loans at the discretion of the community. $185,000 is being awarded to four communities and businesses in Eagle Lake, Otis, Piscataquis County, and St. John.
