Planning commission lands $500K grant
The U.S. Commerce Department’s Economic Development Administration has awarded a $500,000 grant to the Southern Maine Regional Planning and Development Commission to capitalize a revolving loan fund that will support businesses in the 39 communities served by the commission.
“EDA’s investment in Southern Maine will catalyze new and more diverse business growth in the area,” Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine said in a press release announcing the award on Wednesday. “This capital will enable the start-up and growth of small- and medium-size businesses in manufacturing, health care, financial services and hospitality, other businesses in rural communities and those that are struggling financially.”
Formerly known as the Southern Maine Regional Planning Commission, the Springvale-based SMPDC has taken on an expanded role in community development, housing and brownfields redevelopment. It includes 39 communities in York, southern Oxford and Cumberland counties and the county of York itself as members.
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.
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