Program Still Accepting Applications as Regional Businesses Continue to Benefit from Maine’s Economic Recovery Initiative
Waterville, ME 9/17/2024 – The Central Maine Growth Council (CMGC) is continuing its mission to assist early-stage businesses and startups in recovering from negative impacts of the COVID-19 pandemic throughout Kennebec and Somerset County. CMGC has been able to award eleven additional grants to eligible businesses through its competitive application process, with funding made available through a program of Maine’s Department of Economic and Community Development (DECD).
The federally funded program, known as the Economic Recovery Implementation Hub (ERIH), is designed to support small and emerging businesses, with a focus on early-stage initiatives and women and minority-owned operations. Businesses who apply to this program are required to demonstrate proof of COVID-19 financial impact to be eligible for funding, in addition to operating in Somerset or Kennebec County on or after January 1, 2020.
During the first half of this year, CMGC has issued grant funding to the following businesses in the tech, forestry, retail, food service and accommodation industries:
- Flynn’s Tree Service – West Gardiner
- A Coffeehouse – Waterville
- Swish Indoor Golf – Waterville
- Baking with Danielle – Waterville
- Pinkham’s Cove Marine – Belgrade
- Chestnut Hill Farm – Fairfield
- Oliver & Friends Bookshop – Waterville
- Maine Coast Creamery – Winslow
- Relax Infinity – Pittsfield
- Absolem Cider – Winthrop
- State Lunch – Augusta
CMGC has awarded these businesses and entrepreneurs with funding ranging from $5,000 to $49,000. Grants were deployed across four categories, including specifically designed funding for technology and innovation-based businesses. Awarded funds are being utilized to support existing operations, help nest new businesses in the region, purchase equipment, prototype new technologies, hire employees, overcome pandemic-related revenue loss, and more.
ERIH Grant award recipient and A Coffeehouse owner Jenny Allen states, “This support enabled us to secure the necessary equipment and complete our renovations, as well as hire new staff, helping us to open our doors and become a new member of the Waterville community.” A Coffeehouse, newly located at 252 Main Street in downtown Waterville, is a Coffee & Vegetarian Eats Shop, offering healthy food options, fair-trade coffee and tea products, and live entertainment. A Coffeehouse received its grant award in January of this year and held their grand opening in May.
“This brings the total number of businesses we have been able to award to 26, having issued over $590,000 of grant funding in just the past year!”, says CMGC’s Grant and Finance Manager Nicole Timmins. “We are looking forward to competitively awarding the remaining grants available, but time is of the essence. These funds are going fast.”
The ERIH grant program opened its intake and application portal in May of 2023, and it will remain open through December 2024, when the grant program comes to a close. To date, CMGC has provided technical assistance to over 100 new businesses, induced more than 40 new jobs, helped launch 4 new businesses and leveraged approximately $200,000-$350,000 in additional private investment in the region through the ERIH Grant program. Remaining grant funds are limited, and priority will be given to applications from geographies not yet serviced by the program. Namely, northern Somerset County.
“This grant funding has enabled us to expand into baked goods and upgrade our haying equipment, which is essential for our growth and commitment to quality,” states Chestnut Hill Farm Co-owner Daniel Kissinger. “With these improvements, we can better serve our community, attract more customers, and create local jobs, all while maintaining the high standards our customers expect.”
Businesses and entrepreneurs interested in learning about CMGC’s ERIH program, including accessing technical assistance, entrepreneurial training, and grant funding, and for a complete list of all ERIH Grant recipients, please visit: https://www.centralmaine.org/economic-recovery-implementation-hub/
About ERIH:
The Economic Recovery Implementation Hub (ERIH) provides services and support to businesses and entrepreneurs, including access to capital, training and education, and technical assistance. The ERIH initiative has been designed by the Maine Department of Economic and Community Development (DECD) to help Maine’s businesses and entrepreneurs recover from the impacts of the COVID-19 pandemic and position them for long-term success. As one of DECD’s seven designated hub agencies throughout the state, CMGC has provided avenues for economic development assistance on the four (4) requested areas of stated need, including Technical Assistance to Small Businesses, Technical Assistance Diversity, Administration of New Business Grants, and Entrepreneurial Training via Dirigo Labs.
About CMGC:Central Maine Growth Council (CMGC), located in Waterville, Maine, is a public-private collaborative regional economic development partnership funded by municipalities and businesses who share a common vision of economic prosperity for our region. CMGC is committed to fostering a robust regional economy. Our belief is that the standard of living and quality of life of our citizens is best served by a vibrant, healthy economy. This is accomplished with a strong successful business community.
Last modified: September 17, 2024
