Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $5.3 million grant to Our Katahdin of Millinocket to make the infrastructure improvements needed to establish an industrial park that will support wood-product manufacturing and high-tech data processing businesses. According to grantee estimates, the project is expected to create 115 jobs and spur $205 million in private investment.
“The Trump Administration has helped countless communities across the country recover after severe storms and floods,” said Secretary of Commerce Wilbur Ross. “This project is an outstanding opportunity for Millinocket to broaden the region’s economic reach and strengthen the community’s resiliency against future disasters.”
“Seeing new investment in Millinocket has always been a goal of our administration,” said Governor Paul R. LePage. “This grant will play a significant role in the economic stabilization and revitalization of this region. This lays the foundation for future growth.”
“This funding for an array of significant infrastructure improvements will help Millinocket attract new companies that will create much-needed jobs in the region,” said Senators Collins and King in a joint statement. “We welcome this important investment, which will strengthen the community of Millinocket and lay the foundation for future economic growth.”
“This is a tremendous and welcome investment in Millinocket and a huge boon to this historic community,” said Congressman Poliquin. “Multiple businesses have expressed interest in setting up shop in Millinocket, and improved infrastructure will help make that possible. I thank the individuals at Our Katahdin who have worked hard in advocating for business investment in the region and Secretary Ross and the EDA for their continued interest in the Great State of Maine. I look forward to working with stakeholders as we move along in this process.”
This investment funds the construction of water, sewer, roadway, and electrical infrastructure to help establish an industrial park and support the economic recovery of the region. The power source from an adjacent hydro-electric plant will ensure the continual availability of electricity.
This project is funded under the Bipartisan Budget Act of 2018 (PL 115-123) (PDF), in which Congress appropriated to EDA $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) funds for disaster relief and recovery as a result of Hurricanes Harvey, Irma, and Maria, wildfires, and other calendar year 2017 natural disasters under the Stafford Act.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, 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.