- Wondering what to do with that old abandoned factory on Main Street?
- Need some help revitalizing your downtown?
- Need to entice new business investments?
The Maine Rural Development Authority might just be the answer you’re looking for.
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 to communities and their development partners to 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 as other 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 provides several programs to assist communities:
- Commercial Facilities Development Program
- Speculative Buildings Program
- Rural Manufacturing & Industrial Site Redevelopment Program
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