DEPARTMENT OF ECONOMIC AND

COMMUNITY DEVELOPMENT

Provides funds for the Maine Biomedical $8,000,000

Research Fund to support capital

infrastructure and equipment in

anticipation of approximately

$36,000,000 in federal and private

funds. Eligible institutions

are those delineated in the Maine Revised

Statutes, Title 5, section 13103.

Provides funds for the Marine Infrastructure $4,000,000

and Technology Fund administered by the Maine

Technology Institute to match $4,000,000 in

federal and private funding for competitive

capital infrastructure grants to nonprofit

marine research laboratories, institutions and

state governmental and quasi-governmental agencies.

Eight hundred fifty thousand dollars is set aside

to purchase the property known as Black Duck Cove on

Great Wass Island to serve as the home of the

Downeast Institute for Applied Marine Research

and Education. If the institute receives $1,000,000

or more from the Federal Government for this

purpose, then the funds set aside are to be

awarded as competitive grants.

SMALL ENTERPRISE GROWTH BOARD

Provides funds for the Small Enterprise $1,000,000

Growth Fund to make equity investments

in small Maine companies with the potential

for high growth to leverage funds of at least

$1,000,000.

MAINE STATE CULTURAL AFFAIRS COUNCIL

Provides funds for the New Century Community $1,000,000

Program in anticipation of $3,000,000 in

matching funds to invest in capital improvements

improving cultural assets, including

libraries, museums, historical buildings,

theaters and arts facilities.