Governor Janet Mills and Commissioner of Economic and Community Development Heather Johnson announced today that the Mills Administration has begun distributing the first round of financial awards to Maine small businesses and non-profits through the Maine Economic Recovery Grant Program.
Grant letters notifying the recipients of the Maine Economic Recovery Grant Program award were sent yesterday in collaboration with GPCOG and Maine’s six other Economic Development District. Funds will be distributed by early November.
We’re pleased to be part of a program that so far has given GPCOG approval to distribute about $33.5 million in grants to businesses in our region and is providing a significant boost to the local economy.
Approximately 1,100 businesses in the region applied. Six hundred eighty applications have received approval so far. The State is still processing approximately 40 applications in our region that needed follow up. We expect most of those applications to be approved. The average grant amount was about $45,000. Approximately three hundred fifty applications were determined not eligible.
We’re encouraging those businesses whose applications were determined ineligible to apply again in the second round. Applications for the second round have been trickling in, but we expect an increase in the coming days as businesses whose applications were not approved re-apply.
The grants are intended to help sustain the viability of Maine’s small businesses and nonprofits - not to replace lost profits - and will provide short-term relief to help stabilize Maine’s economy.
The deadline for Phase II of the Economic Recovery Grant Program has been extended until Oct. 29.
