Department of Economic and Community Development
Allocation: $1,500,000
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Status: Active
The Governor’s Economic Recovery Committee concluded that encouraging and supporting business owners from underrepresented backgrounds would enhance Maine's economic resiliency, create jobs, and reduce disparities as firms emerge from the pandemic.
The Department of Economic and Community Development is providing grant funding to technical assistance service providers to aid small businesses owned by individuals of Maine's racial, ethnic, and linguistic minorities whose industries or businesses experienced pandemic-related challenges. These providers will offer training on core business practices – such as setting up financial management systems, product marketing, and accessing growth capital – and connections to financial institutions and professional networks.
These programs will be delivered through Regional Economic Recovery Hubs alongside New Business Recovery Grants and Technical Assistance.
Separately, the Division of Procurement Services at the Department of Administrative and Financial Services will be developing new systems and processes to encourage a more diverse mix of businesses and organizations to participate in State grants and contracts.