U.S. Commerce Secretary Announces
$1.4 Million to Limestone, Maine

U.S. Commerce Secretary Don Evans today announced a $1.4 million economic development grant to Loring Development Authority of Maine. The investment will help renovate an 119,000 square foot building for reuse as manufacturing, assembly and distribution operations.

“The Department of Commerce is pleased to partner with the people of Maine. This investment is a great example of U.S. Senator Susan Collins’ commitment to help the Bush Administration empower local communities with the necessary tools to grow their economy, attract investments and create jobs in Maine,” said Evans.

“The Loring Development Authority has transformed an unused military base into a prosperous space housing nineteen businesses that have created more than 1,000 jobs,” said Senator Collins. “I am pleased that the Department of Commerce is contributing to this business center’s future growth and prosperity.”

The Commerce Department’s Economic Development Administration (EDA) funded the grant. EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA partners with states, units of local government and community nonprofit organizations in economically distressed areas, regions and communities in order to alleviate conditions of poverty and substantial and persistent unemployment and underemployment.

Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.doc.gov/eda.