The Southern Maine Planning & Development Commission (SMPDC) today received a $500,000 award that will go toward the creation of a revolving loan fund to support startup and expanding businesses in SMPDC communities. The funding will allow SMPDC to offer increased assistance to businesses, communities and individuals impacted by manufacturing and defense closures or downsizings, and will support entrepreneurship and job creation across the region.
"This funding will help the Southern Maine Planning and Development Commission continue its primary mission of helping Maine businesses grow, succeed, and create good jobs," said U.S. Senator Susan Collins.
"Manufacturing across Maine and America has taken a serious hit over the past few decades, which is why investments like this are so important," said U.S. Senator Angus King. "This welcomed award will boost SMPDC's already exceptional work and help buoy local businesses, support economic innovation, and create good-paying jobs for people throughout Southern Maine."
"This grant will allow SMPDC to do even more to support local community investments, and that is terrific news for businesses and entrepreneurs eager to grow and succeed," said Rep. Mike Michaud. "While many Mainers have experienced first-hand the difficulties that come with the challenges to the manufacturing industry over the past few years, we have never had a shortage of determination and the entrepreneurial spirit that is needed for success."
"This is a smart investment in the local economy that is going to help create jobs and help workers who have been laid off transition to a new career," said Rep. Chellie Pingree. "It's good for Southern Maine and the families that live and work there."