Hello, this is Governor Janet Mills, and thank you for listening. I hope you’re having a great summer weekend here in Maine.
You know, two years ago, my administration created the Maine Jobs and Recovery Plan, which is our road map for investing nearly $1 billion sent to us by President Biden and the Congress to improve the lives of Maine people and families, to support businesses, help us recover from the pandemic, and to create good paying jobs. That measure gained approval by the legislature, and it’s given a great boost to our economy and to small businesses in particular, who are recovering still from the economic effects of the pandemic.
Well, this week, I was excited to announce the latest investments that we’re making through the Jobs Plan to support small businesses and entrepreneurs who are creating jobs and developing new products and technologies right here in Maine.
Two years ago, my administration worked with the Maine Technology Institute to establish the Pandemic Recovery for an Innovative Maine Economy – or PRIME – Fund to help businesses that did not receive some other pandemic relief funds. Since then, the PRIME Fund has distributed about $29 million in federal funding from my Jobs Plan to entities all across Maine.
The first round of $23.3 million in July of 2022 went to 174 different companies to help them recover from the pandemic, to invest in new products and business lines, to attract new customers, and to create long-term economic growth. Businesses, including custom footwear manufacturers, guitar makers, outdoor recreational industry members, all have benefited from these funds.
The second round of $5.6 million in July 2023 went to 16 organizations that help startup businesses as they expand. Those diverse organizations ranged from the Roux Institute to Maine Outdoor Brands, the Wild Blueberry Commission, and the Midcoast Redevelopment Authority.
Finally, earlier this week, I announced that an additional $7 million is available for the third and final round of PRIME grant funds. If your business is in biotechnology, or composites and advanced materials, or environmental technologies, forestry and agriculture, marine industries, or precision manufacturing, I encourage you to apply for a grant to support your long term economic growth.
Applications for these funds opened earlier this week and will stay open through August 30th, 2024. To apply for these monies or to learn more about the PRIME Fund, please visit Maine Technology Institute’s website: www.mainetechnology.org. That’s www.mainetechnology.org.
I am proud that our investments in innovative businesses have helped them create good paying jobs, and manufacture world class products, and become leaders in emerging technologies and industries worldwide. Maine businesses are powering record economic growth for our state, and they’re improving the lives of Maine people.
We will continue to do everything we can in this administration to support their long-term success and provide good paying jobs here in the Great State of Maine.
This is Governor Janet Mills, and thank you for listening.