U.S. Commerce Department Invests More Than $1 Million in Maine Business Park to Help Grow Local Economy
April 22, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.13 million Economic Development Administration (EDA) grant to the Loring Development Authority of Maine for critical repairs and infrastructure upgrades to the water distribution and treatment systems that serve the Loring Commerce Centre in Limestone.
"This EDA grant will help create jobs and keep Limestone businesses competitiveness by funding critical infrastructure improvements needed in the Loring community," Locke said. "The Obama administration is committed to job growth and business development, and this project will support the growth of local businesses at the Loring Commerce Centre."
This EDA investment will help improve the water supply system's impoundment dam on the Madawaska River and make much needed upgrades to the water treatment and distribution system that supplies the 3,700-acre facility, home to 24 businesses and more than 1,300 employees.
The Loring Commerce Centre, managed by the Loring Development Authority of Maine, covers approximately 8,700 acres of land with 2.8 million square feet of facility space and a 12,100-foot runway capable of handling the world's largest aircraft. Industries based at the Centre include agriculture/food processing; forest products; information-based companies; large space users; transportation distribution; aircraft maintenance, repair and overhaul; air cargo operations; and other niche markets.
About the U.S. Economic Development Administration (www.eda.gov):
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth.