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Maine Center for Economic Policy Tax and Budget Conference

Investing for Prosperity Rural Economic Development Investment. Maine Center for Economic Policy Tax and Budget Conference. Responsibility Begins With The Courage To Lead.

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Maine Center for Economic Policy Tax and Budget Conference

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  1. Investing for Prosperity Rural Economic Development Investment Maine Center for Economic PolicyTax and Budget Conference

  2. Responsibility Begins With The Courage To Lead • The Rural Empowerment Summit Began The Process of Promoting A Regional Economic Development Collaborative Calling On Both the Public and Private Sectors Within Aroostook County To: • Work Together and Not Compete Among Ourselves • Eliminate the “Us” and “Them” Attitude Between the Public and Private Sectors Creating a True Partnership for Progress • Promote Regional Solutions • Reverse the Trend of Out-Migration, Particularly of Our Youth • Find “Private Sector Champions” for Economic Growth • Recognize That “Good Jobs” and an Enhanced Tax Base Are At The Core of Aroostook County’s Future Success The Courage To Take A Clear-Eyed Look At Trends and The Challenges We Face

  3. Aroostook Partnership for Progress • Aroostook Partnership for Progress (APP) is a non-profit, public – private partnership dedicated to aggressive and effective results-oriented economic development actions that leverage the financial commitments and talents of the private sector in close partnership with the public sector. • APP is implementing a new inclusive and transactional approach to economic development that will address: • The loss of 32,000 people from 1960 to 2001 • The continuing out-migration of our young adults and youth • The increasing percentage of our population over 65 – the “graying” of Aroostook County • The need for quality job opportunities • The need for increased per capita and family incomes.

  4. APP Structure • Cited as “2006 Economic Development Champion” by Maine Development Foundation “Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has.” -Margaret Mead

  5. The APP Initiative’s Goals Reflect a Commitment To: • Enhancing the County’s economy by attracting additional business and investment activity • Attracting new jobs • Reversing out-migration trends • Increasing economic development leadership and accountability Aroostook Partnership for Progress

  6. Number of new jobs attracted 471 Number of jobs retained 538 Amount of new investment $111 million (estimated) Total Inquiries 50 Specific Projects Pursued 31 Total “A” Leads 12 Measures of Success

  7. Work cooperatively to promote their respective region Assist with proposal development Assist in marketing facilities APP & Local E.D. Groups

  8. Private sector is the foundation of APP Utilize the vision, commitment and resources of our existing investors Build on that solid foundation and leverage the resources of additional businesses to assist in promoting northern Maine APP & the Private Sector

  9. Enhance and Expand Targeted Marketing Program and continue to position northern Maine as a destination for business expansion and relocation • Business Prospecting Missions • Site location and corporate real estate consultants • Growing Businesses • Identify specific projects to pursue • Strategic Communications • Web based marketing campaign • Resort Initiative • Explore possible expansion opportunities with our existing businesses • Attract additional APP investors • Develop key drivers to track northern Maine’s success • Work with LEAD to formalize northern Maine’s legislative strategy Strategic Initiatives For 2006-2007

  10. APP investor contacts APP staff about possible lead – Connect North America (CAN). Site visit is held with prospect, followed by information sessions to gauge availability of work force MBNA properties are purchased by the Northern Maine Finance Corporation (NMFC). MBNA Closure

  11. NMFC arranges financing for project from various federal, state and local sources. APP assists CNA in setting up a job fair at Career Center CNA hired over 50 employees and is preparing the facility for operations – additional 300 jobs anticipated. MBNA Closure (cont.)

  12. Funding resource for implementation of regional strategic plans. Regional strategies should be incorporated into state economic development strategies. Development of better allocation of state funds that review local projects against regional goals. Critical Needs

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