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Kennebunk and St. John Plantation Share in $375,000 Economic Development Awards
Media Contact: Drew Morris (207) 624-9812
AUGUSTA – Kennebunk and St. John Plantation today have been awarded a combined $375,000 in Community Development Block Grant (CDBG) Economic Development Program Awards from the Maine Department of Economic and Community Development (DECD), which will result in the creation of 13 new jobs.
Funded by the U.S. Department of Housing and Urban Development and administered by DECD’s Office of Community Development, the Economic Development Program provides gap funding in the form of grants and loans for communities to assist businesses in the creation and retention of jobs.
“These awards are important to not only the businesses that benefit directly from the work done with the funds, but also the community as a whole,” said DECD Commissioner George Gervais. “Anytime economic development projects can be funded, the community becomes a more attractive, more welcoming place in which to do business.”
Kennebunk’s award of $300,000 will be used to help fund a project that will include replacing and expanding a water line along the Route 1 corridor. Upon completion later in 2013 of the overall $600,000 project, Northeast Coating Technologies will be able to expand its operations and employ an additional 10 employees.
St. John Plantation will use its $75,000 award to defray the purchase cost of concrete forms, and upgrades to a crane carrier and building operated by Charette Foundations, a local concrete foundation business. With a total project cost $150,000, Charette Foundations will be able to fill three new positions when the project is completed later this fall.