The Maine Rural Development Authority (MRDA) was established by the Maine Legislature in 2002 to assist Maine communities in realizing their economic development goals.

MRDA provides financial assistance communities and their development partners help develop speculative commercial and industrial buildings and to help develop/redevelop underutilized commercial industrial properties.

The primary focus of MRDA’s activities is in the rural areas of Maine that have traditionally not experienced the same level of economic development success regions of the state, have experienced major economic losses, such as plant closings and downsizings or are economically distressed.

It is the intent of MRDA to assist with projects that cannot be accomplished by the private sector development community acting alone.

MRDA PROGRAMS

MRDA provides two programs to assist communities:

The goals of these programs are to:

Foster Job Creation

Encourage business development in Maine

Restore employment opportunities

Create employment opportunities in areas of economic need

Commercial Facilities Development Program

The Commercial Facilities Development Program (CFD) provides fi nancial resources to assist in the development of new commercial facilities and the acquisition and redevelopment of nonproductive commercial facilities for subsequent return to productive use through sale or lease. Under this program, MRDA can serve as lender, principal developer, partner or investor in the acquisition of property and redevelopment of existing commercial properties. Investments for the CFD program are available up to $500,000.

Speculative Buildings Program