SENATORS SNOWE, COLLINS ANNOUNCE $202,567 IN ECONOMIC PLANNING FUNDING

U.S. Senator Olympia J. Snowe and U.S. Senator Susan Collins today announced today that the U.S. Department of Commerce's Economic Development Administration (EDA) has granted a combined $132,378 in funding to the Midcoast Economic Development District, the Kennebec County Council of Governments, and the Androscoggin Valley Council of Governments for economic planning. The EDA grant will help establish an economic development planning framework, process and strategy that supports private capital investment and job creation in the respective regions.

The funding will be allocated as follows:
• Kennebec Valley Council of Governments, Fairfield - $70,189
• Midcoast Economic Development District, Bath - $62,189
• Androscoggin Valley Council of Governments, Auburn - $70,189

"The vitality of any region is predicated on sound economic planning. The Kennebec and Androscoggin Valley Councils of Governments and the Midcoast Economic Development District will benefit significantly from these EDA Grants as they work to attract new businesses to grow their economy and support new development," said Snowe and Collins in a joint statement.

The Economic Development Administration was established to work with states and localities to generate new jobs, retain existing jobs, and stimulate industrial and commercial growth in economically distressed areas and regions of the United States. The purpose of its program investments is to provide economically distressed communities with a source of funding for planning, infrastructure development, and business financing that will induce private investment in the types of business activities that contribute to long-term economic stability and growth. EDA's investments are strategically targeted to increase local competitiveness and strengthen the local and regional economic base.