"Economic development is one of the most essential building blocks of a strong community," Senators Snowe and Collins said in a joint statement. "This recent funding will allow recipient communities to foster healthy economies and consequently, healthy communities."
Funding has been awarded to:
• Kennebec Valley Council of Governments, Fairfield……….$52,000
• Northern Maine Development Commission, Caribou…….....$54,000
• Eastern Maine Development Corporation, Bangor………….$62,000
• Androscoggin Valley Council of Governments, Auburn…….$60,000
The funding awarded to the Kennebec Valley Council of Governments in Fairfield, the Northern Maine Development Commission in Caribou, and the Eastern Maine Development Corporation in Bangor will be used to support the continuation and implementation of a district economic development planning program designed to foster the creation of private sector wealth and the reduction and minimization of poverty within the region.
Funding given to the Androscoggin Valley Council of Governments in Auburn will be used to support regional long-term planning efforts.
The Economic Development Administration (EDA) 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.
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