April 09, 2019
Washington, D.C. – U.S. Senators Susan Collins and Angus King, a cofounder of the Working Forest Caucus, applauded today’s announcement by the Maine Technology Institute (MTI) Board of Directors that it is awarding a total of $1.5 million to two Maine forest products companies. The funding stemmed from MTI’s collaboration with the Forest Opportunities Roadmap (FOR/Maine) Initiative, which Senators Collins and King have championed.
“We applaud this substantial investment in two Maine companies that have developed innovative uses for forest products. These cutting-edge technologies will help sustain and create Maine jobs in rural communities, bolster our forest products industry, and benefit our environment and our economy,” said Senators Collins and King in a joint statement. “Maine’s forests continue to be a vital part of our state’s economy, and we look forward to continuing to support these efforts to help Maine’s forest economy thrive for generations to come.”
GO Lab, Inc, and Biofine Developments Northeast (BDNE) were each awarded $750,000 to support their groundbreaking technologies that make use of Maine’s abundant forest resources and supply chain:
In 2016, Senators Collins and King called on the U.S. Department of Commerce to establish the Economic Development Assessment Team (EDAT),that would work across agencies and sectors to create strategies for job growth and economic development in Maine’s rural communities. The creation of the EDAT and its subsequent studies and research led to the EDA and the U.S. Forest Service providing funding for the 2018 FOR/Maine Initiative.