The CDBG Economic Development Program (EDP):

The CDBG Economic Development Program (EDP) provides gap funding for communities to assist businesses in the creation/retention of quality jobs, more than 50% of which must be for low and moderate income persons. The maximum award amount per job created/retained is $20,000, except if the business is located in a HUB or Empowerment Zone or if the business is Pine Tree Zone certified, in which case the maximum amount per job created/retained is $30,000. Program activity groups include:

  • Non-Municipal Owned: 1) up to $200,000 grant for the rehabilitation or construction of commercial or industrial buildings, capital equipment, and real property improvements; 2) working or operating capital.
  • Municipal Owned: up to $300,000 grant for acquisition, relocation, demolition, clearance, etc., associated with public infrastructure projects such as water and sewer facilities, drainage improvements, parking, roads, etc., which are necessary to create or retain jobs in the non retail private sector for primarily low and moderate income persons.
  • Development Fund (DF) Loan: up to $300,000 for the acquisition or installation of commercial or industrial buildings, equipment, and site improvements.

Applicants for the first two activity groups may also utilize the DF loan activity for the same project but are limited to a total of $400,000 in CDBG assistance. EDP funds cannot be used to refinance existing debt. Assistance from all of the above CDBG program activity groups must be matched on at least a one to one basis.

Contact: Department of Economic and Community Development, Office of Community Development, 207-624-7484.
www.meocd.org

 

Maine Technology Institute (MTI) Seed Grants:

MTI seed grants are offered to Maine companies and entrepreneurs six times a year; these grants range from $1,000 to $12,000 to help fund small, early stage R&D projects and activities leading to commercialization. Activities include market research, intellectual property filing, and prototype development. Seed grants require at least a 1:1 match from the applicant.

Contact: Maine Technology Institute, 207-582-4790.
www.mainetechnology.org

 

Maine Technology Institute Development Awards:

MTI Development Awards are offered three times a year; these awards fund between $50,000 and $500,000 per project for comprehensive, later-stage R&D activities leading to commercialization. Activities include those funded by the seed grant program as well as small-scale manufacturing. Repayment of this award is required when the product, process, or service developed is successfully commercialized. Development awards require at least a 1:1 match from the applicant.

Contact: Maine Technology Institute, 207-582-4790.
www.mainetechnology.org

 

Maine Technology Institute Cluster Initiative Program:

Awards made through the Cluster Initiative Program support Maine’s technology sectors by improving the effectiveness of their infrastructure, as well as resources and connections among firms, service providers, research laboratories and educational institutions. They focus on collaborative efforts to spread knowledge and skills, build connections among businesses, connect them to researchand service partners, and to address common opportunities and challenges leading to more vibrant economic growth and innovation in Maine’s high-potential technology clusters.

This new program was launched in September of 2008, replacing the Cluster Enhancement Awards Program and expanding the total amount of awards to over $2 million per year and the maximum award limit from $200,000 to $500,000. This program has two levels of applications, both of which require matching funds.

Contact: Maine Technology Institute, 207-582-4790.
www.mainetechnology.org