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 centers
future growth and prosperity.
The
Commerce Departments 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.