The Midcoast Regional Redevelopment Authority was awarded a $640,500 grant on Thursday to be used for infrastructure improvements needed to support TechPlace.
In 2011, the Midcoast Regional Redevelopment Authority was charged with guiding the redevelopment of Brunswick Landing, which later included TechPlace, a science and technology business center that opened in 2015. The center hosts around 30 businesses.
The grant was awarded from the U.S. Department of Commerce’s Economic Development Administration and will be matched with $160,625 in state and local funds. The grant is expected to create 20 jobs, retain another 120 jobs and generate $3.5 million in private investment, according to a news release.
“I welcome these federal funds as another important investment in Maine’s economy,” Gov. Janet Mills said in the news release. “The infrastructure improvements that will result from this project will help TechPlace continue to support innovation and job growth in Maine and strengthen and diversify our economy as we continue to recover from the pandemic.
Examples of TechPlace businesses include STARC Systems, a temporary wall company that helps construction projects contain dust and debris, bluShift Aerospace, a bio-fuel powered rocket company that had their first successful launch in January, and Ocean Renewable Power, a Portland-based renewable technology company that builds devices to generate emission-free electricity from river currents in Alaska.
“Maine people have long relied on the manufacturing industry to support their livelihoods and provide for their families,” said Sens. Susan Collins and Angus King, and Congresswoman Chellie Pingree in a joint statement. “This funding to support Midcoast Regional Redevelopment Authority’s infrastructure improvements at TechPlace will help bolster cutting-edge manufacturing as well as spur job creation in Maine.”
According to the release, the grant was made possible through regional planning efforts by the Midcoast Economic Development District, which is an entity funded by the Economic Development Administration designed to bring together public and private sectors to strengthen the regional economy.
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