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Photo Courtesy of Northern Maine Development Commission
For any business seeking expansion or a new foothold, understanding regional support is paramount. Northern Maine Development Commission (NMDC) is a vital economic engine for Aroostook and Washington Counties (its federally designated Economic Development District), along with Piscataquis and Penobscot counties. From its central Caribou office and satellites in Eastport, Lincoln, and Houlton, NMDC attracts capital and empowers communities, igniting opportunities through strategic support and dynamic partnerships across this vital region.
Access to capital remains critical for business growth. NMDC addresses this through robust financial programs for entrepreneurship and expansion. NMDC provides accessible SBA and USDA Microbusiness Loans (up to $50,000) and low-interest commercial loans for acquisition or growth, prioritizing partnerships with traditional banks. As a certified CDFI and consistently top-ranked SBA microlender, NMDC provides businesses with vital funding and expert guidance. Through partners like SBA, USDA Rural Development, and FAME, among others, NMDC aids planning, successful loan packaging, and boosts regional job creation.
Beyond financing, NMDC operates as an indispensable resource hub for communities and businesses. It offers regionally tailored, expert guidance on tax incentives, site selection, and labor market data. Commission staff are trained in guiding businesses and communities through incentives spanning innovation, tax credits, and state and federal investment opportunities, ensuring entities maximize available project benefits. This comprehensive support is vital for attracting new industries and for existing enterprise expansions.
NMDC champions infrastructure development and regional planning. Collaborating with municipalities, it oversees projects from comprehensive plans to securing vital funding for modern upgrades. Its transformative impact includes securing federal NBRC Program or EDA grants and utilizing municipal TIF programs to cultivate and revitalize Main Street economies. These initiatives consistently grow Maine’s communities. In the previous fiscal year, NMDC brought $12 million in federal and state investments to municipalities throughout its service area.
As a core pillar, NMDC cultivates and promotes the region’s unique appeal through Aroostook County Tourism (ACT). It bolsters Northern Maine’s vibrant tourism sector, attracting visitors who infuse new revenue into local economies. Through dynamic marketing and strategic partnerships, ACT proudly showcases the “Crown of Maine” as a premier destination for recreation and culture, enriching the regional economy and diversifying revenue streams.
NMDC provides essential support for regional collaboration and effective resource coordination, engaging over 20 partners in funding, business assistance, or other guidance. NMDC’s office houses Maine SBDC and APEX Accelerator business advising staff, diversifying and enhancing guidance. The commission has established vital networks connecting local businesses, educational institutions, and community organizations. This work includes being the host organization for the Aroostook Partnership, a public-private collaboration of businesses, nonprofits, and partners countywide, which advocates for and supports Aroostook at state and federal levels.
Driving innovation, the Center for Business Growth @ NMDC is a pivotal resource. It actively supports innovative businesses, guiding them from concept to market. The Center’s expertise in rural entrepreneurship extends nationally, having lectured on best practices for fostering growth and accessing capital in underserved areas. Furthermore, demonstrating a commitment to future generations, it promotes entrepreneurial ecosystems, partnering with educational institutions like the University of Maine to guide young students in entrepreneurship, cultivating the next wave of regional innovators and business leaders.
Northern Maine is rich with untapped potential. NMDC consistently demonstrates a proactive, asset-based approach, leveraging inherent strengths: natural resources, strategic borders, and the ingenuity of its people. By fostering entrepreneurship through its Center for Business Growth, providing targeted municipal and community assistance, guidance for innovative businesses, and facilitating capital access, NMDC actively shapes a dynamic, prosperous, and sustainable economic future for all of Northern Maine.
11 West Presque Isle Road, Caribou
49 Water Street Eastport
51 Main Street Lincoln
Robert Clark, Executive Director
(207) 498-8736
dinsmore@nmdc.org / www.nmdc.org
