"We are very pleased that the EDA is investing in this vital project. Maine Street Station is both promising and forward-looking. It will create additional space for businesses, facilitate increased use of bus and rail transportation and be an economic driver in the region. We have strongly supported this project from its inception, and will continue to support initiatives that help to mitigate the negative economic consequences of the closure of the Brunswick Naval Air Station" said Snowe and Collins in a joint statement.
The site, in the heart of Brunswick, is a former brownfields site which has been remediated and prepared for reuse as a train station and bus/train intermodal facility, as well as for commercial and office space.
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.