Washington, D.C. – U.S. Senator Susan Collins, Ranking Member of the Senate Appropriations Subcommittee on Financial Services and General Government, today announced that she has successfully secured $3,225,700 for Small Business Administration projects in Maine in the appropriations package for fiscal year 2010. This bill covers $46.4 billion in overall spending for a number of agencies within the Executive Branch; the Federal Courts; and District of Columbia and increases funding for our nation’s financial services regulators including the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This measure has been approved by the full Senate Appropriations Committee and will now be considered by the full Senate. “As Ranking Member of the Senate Appropriations Subcommittee on Financial Services and General Government, I am particularly pleased to have successfully secured this federal funding for important projects that will benefit Maine’s small businesses,” said Senator Collins. “Small businesses are the backbone of Maine’s economy. This funding will encourage further economic development, support rural communities, and help create much-needed jobs in Maine.” Funding for Maine Small Business Projects included in the FY 2010 Financial Services and General Government Appropriations bill includes:
- $1,050,000 for the City of Brewer, Brewer Business and Commerce Park: Funds would enable the City of Brewer to move forward with its plans to develop a business and commerce park. The City has already purchased and amassed the land needed, and completed preliminary design and engineering work along with an economic feasibility study. The business park will provide jobs and economic development through the investment in space for business, industrial, and manufacturing development.
- $975,700 for Loring Development Authority, Loring Commerce Centre Infrastructure Development, Limestone: Funding would go toward the modernization of facilities and infrastructure at the Loring Commerce Centre in Limestone to support business development. Modernizing these facilities will help assure that the infrastructure serving this regional economic center will continue to be reliable and available for small businesses to occupy.
- $200,000 for Town of Orono, Kelley Road Business Park: Funding would enable the Town of Orono to provide infrastructure and facility upgrades essential for developing a business park. The Town has already completed the preliminary master plan for this property, which anchors its economic development zone. The project will build essential infrastructure to attract the private capital needed to create jobs.
- $850,000 for University of Southern Maine, Science Technology Research Center, Portland: Funds would enable the University of Southern Maine to build out available lab-ready space in the bioscience building. The labs will be designed to be adaptive to various biology and chemistry protocols and lines of work to serve as a hub for faculty work that engages students. This infrastructure development will facilitate additional technology research and further develop collaborations between the University of Southern Maine and the region’s science and biotechnology businesses.
- $150,000 for Washington Hancock Community Agency, Washington, Rural Business Energizer Program, Milbridge: Funds would go toward providing business training to rural entrepreneurs in Washington and Hancock counties to help them grow their businesses, start new enterprises, and create new jobs. This training will provide a foundation for future growth as these businesses expand.