WKEDA
The Western Kennebec Economic Development Alliance
Transforming Vision to Reality Since 1978
Western Kennebec Economic Development Alliance - 10 Cross Road, Suite k - Winthrop, ME 04364
(207) 377-2401 - WKEDAmail@gmail.com
What is the WKEDA Project Development Fund?
The WKEDA Project Development Fund is a unique community resource resulting from a partnership between the Western Kennebec Economic Development Alliance and the area's financial institutions. The fund's purpose will be to underwrite essential project development and research costs associated with new business enterprise and community development in the region.
What type of support is needed?
WKEDA is asking for a minimum $3,000 yearly investment from each financial institution in the WKEDA service region. Additional opportunities for support may become available as new projects take shape.
What is the funding used for?
Your share will provide funding for direct support of economic and community development projects. For example, the WKEDA project development fund might finance a feasibility study, planning and design, environmental scans, and capital improvements. Funds might also be used to support the recruitment of new businesses from outside of the region, and the expansion of existing businesses. Current projects include the development of a solar farm on a former Superfund site, the redevelopment of a dilapidated commercial corridor, a historic revitalization of a downtown center, a community performing arts initiative, and a collaborative outdoor recreation business incubator.
What do we get in return?
You share the investment in our local communities that boosts collective prosperity, creates jobs, revitalizes unusable spaces, expands opportunities for business growth, and increases the overall vitality of the region. Additionally, your financial institution benefits from:
A prominent listing on the WKEDA website; Ad space within regularly appearing ½ page spreads in the Advertiser; Listing in any project media releases, literature, and other outreach; Priority business referrals; Potential new customer base; Regular project updates; Opportunities to present at WKEDA Board of Directors meetings; Display space at any WKEDA-sponsored events.
What projects have you completed so far?
Among other things, WKEDA has collaborated on a new medical facility in Manchester that's created more than thirty high-quality jobs, WKEDA has created and continues to oversee the Winthrop Business Park, we are facilitating a revolving loan fund in Readfield, and WKEDA helped Wayne develop income producing use of a municipal building.
What's the timeline?
As we work collaboratively with our member town and local business community, we are actively seeking to develop economic projects now. With this fund we expect to be able to expand on our project development capacity immediately.
How will the projects be chosen?
The WKEDA Board will actively review and solicit input on all proposed projects as they are presented from any municipal, financial, business, or entrepreneurial entity. After careful consideration, the Board will vote on any further action related to the proposed project. The Board is comprised of elected representatives from municipal, community, financial, and business entities.
For more information:
Call Executive Director Amy Lawson at (207) 377-2401
