U.S. Department of Commerce Invests $4.5 Million for New Airport Hangar in Support of Job Growth in Presque Isle, Maine
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4.5 million grant to the city of Presque Isle, Maine, to construct a new research hangar, access road, and parking lot at Presque Isle International Airport.
This project will support local job growth through the expansion of an aerospace industry tenant. The EDA investment will be matched with $1.1 million in local funds and is expected to help create or retain 140 jobs and generate $30 million in private investment, according to grantee estimates.
“The Biden Administration is committed to creating new opportunities for workers throughout the United States,” said Secretary of Commerce Gina Raimondo. “This EDA investment will support expansion of the local aerospace industry, providing new opportunities for job creation in the region.”
“The Economic Development Administration is pleased to support Presque Isle as it works to diversify and grow the region’s economy,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “The construction supported by this EDA investment will allow an existing aerospace industry tenant to expand business operations and create good-paying, quality jobs in the region.”
“We welcome this investment at Presque Isle International Airport, which will help sustain and create good-paying jobs at the Research Park, enable existing companies to grow, and attract new business activity,” said Senator Susan Collins, Senator Angus King, and Congressman Jared Golden (ME-02) in a joint statement. “In addition, the state-of-the-art facility will promote recruitment of highly educated individuals, and it will be a focal point for students attending area high schools and the Maine School of Science and Mathematics to be introduced to the many opportunities of STEM research and related fields.”
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.