Money For Maine's Marine Businesses Stems From Voter Bond

Published: Feb. 28, 2018 at 5:33 PM EST
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The University of Maine says a group it leads is investing more than $14 million in businesses and infrastructure to try to grow marine jobs in the state.

The university leads the Alliance for Maine's Marine Economy, which is a consortium of businesses and institutions in the state. The university says the group is investing $7 million in voter-approved bonds along with more than $7 million more from its own members.

The university says the investments are designed to "support and diversify traditional fisheries, aquaculture and other marine-dependent industries."

The Maine Technology Institute is partnering with the Alliance for Maine's Marine Economy to invest in seven projects and award eight grants. The awards include creating new processing capabilities at seafood businesses in several counties in the state.