SENATORS SNOWE AND COLLINS ANNOUNCE ECONOMIC DEVELOPMENT FUNDS FOR MAINE

WASHINGTON, D.C.- U.S. Senators Olympia Snowe (R-ME) and Susan Collins (R-ME) today announced that $176,000 in investments for planning assistance has been awarded to Maine by the Economic Development Administration of the U.S. Department of Commerce. "Supporting community economic development planning programs is critical to promoting growth in struggling communities," Snowe and Collins said in a joint statement. "The assistance provided by the Economic Development Administration will greatly help local government encourage economic expansion."

Funding will go to the following entities: • $54,000 to the Northern Maine Development Commission in Caribou. • $62,000 to the Eastern Maine Development Corporation in Bangor. • $60,000 to the Androscoggin Valley Council of Governments in Auburn.

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.

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