|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||3||$1,525,000|
During Fiscal Year 2013, EDA invested $2,753,000 in 15 projects in the State of Maine. These projects are expected to create or retain 365 jobs and leverage $250,000 in private investment, according to grantee estimates. EDA’s investments help Maine communities achieve bottom-up, locally-defined economic development goals and strategies.
EDA offers a complementary, balanced portfolio of grant programs designed to help rural and urban communities grow their private sectors and create jobs.
Investment Spotlight: Aircraft Repair in Bangor
The City of Bangor is the employment center for the eastern Maine region, where the traditional natural resources industries, especially lumber and paper production, have been in steep decline for decades. Facing a significant need to develop sustainable employment opportunities to replace those lost in the forest products industry, the City of Bangor sought to expand opportunities in other sectors.
In 2013, a Bangor-based company that performs repair and refurbishment of small-and mid-sized airliners was poised for growth. However, the company’s ability to win more contracts and add new employees was hampered by its location in leased hangars owned by the City of Bangor at the Bangor International Airport.
In July, EDA awarded $579,100 to assist the City of Bangor with the construction of an aircraft paint facility within a vacant hangar at the Bangor International Airport. This project will enable the expansion of an existing aircraft maintenance, repair, and refurbishment operation at the Bangor International Airport by providing one-stop aircraft overhaul and refurbishment services to the U.S. and European markets. This added capacity will create 70 high-skilled, high-wage aircraft maintenance and repair jobs, resulting in at least $250,000 in private investment. It is anticipated that this project will serve as a catalyst for future growth and job creation in aircraft services and related industries within the region.