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SNOWE, COLLINS ANNOUNCE ECONOMIC DEVELOPMENT FUNDS FOR MAINE

(Washington, D.C.) - U.S. Senators Olympia J. Snowe (R-ME) and Susan M. Collins (R-ME) today announced that a $100,000 grant has been awarded to the University of Southern Maine's Center for Business and Economic Research (CBER) from the Economic Development Administration (EDA). The funds will be used to support projects specifically targeted to distressed regions, and to support and foster economic development statewide.

"The University of Southern Maine is the largest university in the State of Maine and a vital education resource for Maine residents," said Senators Snowe and Collins in a joint statement. "By conducting research on the distressed areas in Maine, we can work toward helping to address the economic needs of communities throughout our state." The EDA an element of the U.S. Department of Commerce 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.