WASHINGTON, D.C. – Today, U.S. Senators Susan Collins (R-Maine) and Angus King (I-Maine) announced that the Economic Development Administration (EDA) is investing $280,000 to support existing small businesses, attract new ones, and bolster job creation in Penobscot, Androscoggin, Kennebec, and Aroostook Counties. Each of the following organizations will receive $70,000: Eastern Maine Development Corporation, Androscoggin Valley Council of Governments, Kennebec Valley Council of Governments, and Northern Maine Development Commission.
“The coronavirus pandemic has hit rural economies hard and deepened longstanding inequalities that hinder economic growth,” said Senators Collins and King. “We are thrilled to see the EDA directing investments in communities throughout our state to help small businesses weather the pandemic’s effects, attract new businesses to these regions, create jobs, and strengthen local economies.”
This Economic Development Administration (EDA) planning investment supports the development and implementation of a comprehensive economic development strategy (CEDS) for the regions. The CEDS process is designed to bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy.