Restoration Economy: Madawaska, Maine celebrates winning $2 million to redevelop and revitalize their downtown area

On August 22, 2023, U.S. Secretary of Commerce Gina Raimondo announced that the Commerce Department’s Economic Development Administration (EDA) was awarding a $2 million grant to the town of Madawaska, Maine, to redevelop and revitalize the town’s downtown plaza.

Madawaska is among our state’s most iconic and vibrant communities. For generations, the town’s historic downtown plaza has fueled cross-border business and supported the local economy,” said Senator Susan Collins, Senator Angus King, and Congressman Jared Golden (ME-02) in a joint statement.

This significant job-creating investment from the EDA will modernize the plaza, encourage private investment, and help the town access 21stcentury opportunities. We look forward to seeing the impact of this federal funding and the improvements it will bring to our Northern Maine communities,” they explained.

Revitalization of Madawaska’s downtown plaza, including the expansion of the Farmers Market, renovation of a vacant building to house co-working offices, and transportation infrastructure improvements, will promote business and job growth in the border community.

The Economic Development Administration is pleased to partner with the town of Madawaska in their place-based approach to supporting existing businesses and bringing new businesses and jobs to the region,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo.

Revitalization of Madawaska’s town center will boost business and job growth in this important border town and commercial port of entry,” she continued.

This EDA investment will be matched with $503,000 in local funds and is expected to create 32 jobs and generate $14.1 million in private investment, according to grantee estimates.

President Biden’s Investing in America agenda is providing communities with the resources they need to grow and diversify their economies,” said Raimondo.

This EDA investment will support engineering, site redevelopment, and infrastructure improvements to promote private sector investment and create new economic opportunity in Madawaska,” she added.

The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy.

This significant Federal investment will create jobs and attract new businesses to the heart of St. John Valley,” said Maine’s Governor, Janet Mills.

I thank the Biden-Harris Administration for their continued, historic investments in Maine people and Maine communities,” she concluded.

An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.

Photo courtesy of the Town of Madawaska.

See EDA website.

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