The Harold Alfond Foundation and the Finance Authority of Maine (FAME) announced the 23 newest Alfond Leader award recipients. Collectively, they qualified to receive about $670,000 in student loan debt relief. To date, 67 Maine-based STEM professionals have been named Alfond Leaders and over $2 million of their student loans will qualify for repayment assistance. A new application cycle is now open until November 15, 2018. Interested individuals can learn more and apply at AlfondLeaders.org. The ground-breaking Alfond Leaders student loan repayment assistance program was launched in 2017 and provides student loan repayment assistance to people who either currently live and work in Maine or who come to Maine for a position with a Science, Technology, Engineering and Math (STEM)-designated occupation at a Maine-based employer. The program was designed to help Maine employers attract and retain talented workers. The Harold Alfond Foundation has committed $4 million over the next three years to the program and anticipates it will give about 150 recipients up to $60,000 in college debt relief per person. The Alfond Leaders program is administered by FAME. “Maine needs to attract and retain highly skilled STEM and other professionals to strengthen Maine’s economy,” said Greg Powell, Chairman of the Harold Alfond Foundation. “This program is one incentive that we think can help build up Maine’s workforce.” Each awardee receives loan repayments up to half of their outstanding student loan balance, not to exceed $60,000. These payments are made in two installments, the first paid at three years, and the second paid after the completion of an additional three years of qualifying employment and state residency. The payment periods have been shortened from five and 10 years since the program was originally launched and are retroactive to include the first two rounds of Alfond Leaders. The second application cycle concluded on May 15th. More than 160 applications for the competitive loan repayment program were received to select the 23 most recent recipients. The awardees work in a variety of Maine-based organizations as scientists, engineers, information technology professionals, and entrepreneurs. They are: Mikayla Bolduc, Skowhegan; Shawn Brackett, Auburn; Laura Brown, Portland; Julie Cross, Gorham; Jordon Cyr, Freeport; Tyson Girsa, Millinocket; John Golder, Poland; Katherine Kelley, Steep Falls, Jonathan Hardingham, Sanford; Joel Hyde, Veazie; Shane Kelly, Portland, Jacob Keniston, Prospect; Jonathan Labrecque, Ellsworth; Joshua Libby, Gray; Austin Moore, Gardiner; Matthew Moretti, Portland; Giovanna Patrizio, Portland; Joel Plunkett, Brunswick; Scott Rizzo, Lamoine; Aric Rogers, Ellsworth; Scott Webber, Auburn; Ann Wells, Southwest Harbor; and Sarah Wheatley, Gardiner. Below are details on three of the recipients: Matthew (Matt) Moretti, President of Wild Ocean Aquaculture, LLC, a company he co-founded with his father, graduated with a degree in biology from Bates College and then headed off to Boston to pursue a master’s degree in marine biology at Northeastern University.  After obtaining his master’s degree in 2010, he knew he didn’t want to pursue a research career, but instead wanted to return to Maine and immerse himself in the state’s vibrant and growing aquaculture industry. To start Wild Ocean Aquaculture, he and his father acquired Bangs Island Mussels in 2010. In the last eight years, he has spearheaded the growth of the business from three small farms producing less than 30,000 pounds of mussels a year to the largest rope-grown mussel farm in New England with 10 employees producing 250,000 mussels a year, 60,000 pounds of farm-raised kelp and a ground-breaking new venture into farm-raising sea scallops. Matt lives in Portland but grew up in the Bangor area. He came back to Maine because he says, “Having grown up here, I have a strong affinity for Maine, especially the ocean, and I knew my home state was poised to become a leader in the Northeast aquaculture industry. About student loan debt, he says, “It can be an enormous hurdle that at times seems impossible to overcome. This award will go a long way in helping me to manage my student debt load so that I can continue to pursue by professional dreams.” Katherine Kelley, a New Hampshire native, moved to Maine in 2011 after receiving her Bachelor of Science degree in civil engineering from the University of New Hampshire. As a civil engineer, she started her career at the Maine Department of Transportation and worked. While at the MaineDOT, she pursued and obtained her master’s degree in civil engineering from Norwich University in Vermont through its online graduate school program. Today, she is the Wastewater Division Manager for the City of Westbrook and wears many hats from working closely with the engineering team, to planning, to erosion control, and to waste water back-up coordination. She’s also a recent newlywed and lives in Steep Falls, Maine. Becoming an Alfond Leader is “life changing,” says Katherine. “Student loan debt is like a lingering shadow that is always in the background. With the award, we can really consider having a family and buying a bigger house – something I didn’t think would be possible.” Saco native Nathan (Nate) Lareau attended USM and graduated with a degree in electrical engineering in 2016. While at USM, he was diagnosed with Type 1 Diabetes, which got him thinking about how electrical devices are linked to the medical world and compelled him to pursue his master’s degree in biomedical engineering at Boston University. Armed with passion, knowledge and skill, Nate recently returned to Maine to start his career and is an Electrical Design Engineer at Enercon Technologies in Gray, a local company that manufacturers some of the country’s leading medical devices. He says, “Student loan debt impacts your ability to save for the future because you are putting so much of your paycheck toward debt reduction.” Although Nate is just starting his career, he noted, “This award will help me save for my future. I want to stay in Maine long term, and this type of program shows a commitment to growing the STEM industry in Maine. It’s a program that can help attract talent to our state, and for those of us who want to live here, that you don’t have to move to Boston or New York City to have a successful career.” Who is eligible to become an Alfond Leader?

• Maine residents or individuals who become Maine residents when hired by a Maine-based business
• An individual employed or about to be employed by a Maine-based business in a designated STEM occupation
• An applicant must have a higher education degree or certificate
• An applicant must have outstanding student loan debt

The current application period is open until November 15, 2018. For an application to be considered it must be completed in full. The application components include: an application form, a written essay, a resume, a statement of intent to live and work in Maine for 6 years; an employment certification by a Maine-based employer; and disclosure of the amount, source, and terms of the student loan indebtedness. About the Harold Alfond Foundation The Harold Alfond Foundation furthers the legacy of Harold Alfond by investing in education, healthcare, youth development, and other philanthropic charitable causes that hold the promise of making enduring transformative contributions to the community and state of Maine. To learn more about the Harold Alfond Foundation, please visit www.haroldalfondfoundation.org.

At its August 16 board meeting, the members of the Finance Authority of Maine (FAME) approved a direct loan totaling $495,000 to Forefront Commons I, LLC, to help renovate an historic former rail building as part of a larger construction project at Thompson’s Point in Portland. FAME’s action is expected to help create and retain twelve Maine jobs. The renovation of the building known as “Brick Burb” is part of a larger $3.3 million project involving construction of a new building as part of a land swap designed to relocate Suburban Propane’s facility from Thompson’s Point to a replacement site on Riverside Street in Portland, as well as demolition and clean-up of existing buildings on the site. Thompson’s Point is spearheaded by principals Christopher Thompson and Jed Troubh. Since the project began in 2009, the thirty-acre property has evolved from a derelict former railroad yard to a vibrant, mixed-use neighborhood bringing together a wide variety of Maine companies and family-focused entertainment. The area hosts outdoor concerts with views of the Fore River, and also includes the Brick South Event Venue and an outdoor ice skating facility. Current tenants include Cellardoor Winery; Bissell Brothers Brewing Co.; Stroudwater Spirits Distillery; and Locally Sauced Restaurant. Additionally, the Children’s Museum and Theatre of Maine will be moving to the site with a newly constructed building expected to open in the fall of 2019. The 148-room Hotel Portland, part of the Tribute portfolio by Marriott, is also on track to break ground in 2018 and open in 2020. “FAME is pleased to support Forefront Commons, I, LLC’s plans for site improvements and continued development,” stated FAME Board Chair Jay Violette. “We are happy to help facilitate this transaction to help Thompson’s Point continue its impressive growth and position itself for long-term success.” FAME’s Direct Loan Program provides new or existing Maine businesses with flexible gap financing. In FY 2017, FAME provided loans to twenty Maine businesses totaling approximately $5.1 million. This helped to create and retain 351 Maine jobs. “We are grateful for FAME’s continued support and assistance with our plans,” stated Chris Thompson, principal. “This financing helps us take another step toward realizing our vision of creating a live/work/learn environment that is open to all.”

For the fourth year in a row, the Finance Authority of Maine (FAME) has been named as one of the Best Places to Work in Maine. The awards program, created in 2006, is a project of the Society for Human Resource Management–Maine State Council (MESHRM) and Best Companies Group. Partners endorsing the program include: Mainebiz, the Maine State Chamber of Commerce, the Maine Department of Labor, the Maine Department of Economic and Community Development, and Maine HR Convention. This statewide survey and awards program was designed to identify, recognize and honor the best places of employment in Maine, benefiting the state’s economy, its workforce and businesses. The 2018 Best Places to Work in Maine list is made up of 75 companies in three size categories: small (15-49 U.S. employees), medium (50-249 U.S. employees), and large (250+ U.S. employees). FAME was honored as part of the medium-size business category. “We are honored to receive this designation for a fourth straight year. This recognition confirms what we have known all along: FAME is a special place to work due to our can-do attitude, terrific staff and board, and unique and rewarding mission. We love coming to work every day because our mission is to provide financial solutions that help Maine people achieve their business and higher education goals,” stated Bruce Wagner, FAME’s Chief Executive Officer. Companies from across the state entered the two-part process to determine the Best Places to Work in Maine. The first part consisted of evaluating each nominated company’s workplace policies, practices, and demographics. The second part consisted of an employee survey to measure the employee experience. Taylor Banister, a customer service associate at FAME, is a recent college graduate who appreciates the warm and supportive atmosphere at the agency. “It’s early in my career and important to me that I do something impactful and positive. I’m fortunate to have found FAME, where the mission of the agency–helping Maine residents achieve their goals–is equal to how well FAME treats its employees. Considering the generous health and retirement benefits, continuing education funds, and all the support and fun we have as a team, I can’t imagine a better fit.” The FAME staff is deeply committed to providing superior customer service to its customers, the people of Maine, and believes that being a Best Place to Work creates a positive and productive work environment. FAME customers have rated the agency a 4.6 on a scale of 5.0 in each of the last four years as a consequence. FAME will be recognized at the Best Places to Work in Maine awards ceremony on October 9^th and will be listed in a special publication by Mainebiz. The final rankings will be announced at the event. For more information on the Best Places to Work in Maine program, visit www.BestPlacestoWorkME.com or contact Jackie Miller at (717) 323-5237. FAME is a quasi-independent state agency that provides financial solutions that help Maine people achieve their business and higher education goals. FAME is celebrating its 35^th Anniversary and helps to create a Maine workforce that with good-paying jobs by focusing on the nexus of economic and educational development. To learn more about FAME, please visit www.famemaine.com

Investments in Maine Dairy Cow Farms and Enterprises

The Dairy Improvement Fund (DIF) is a new revolving loan program to help Maine dairy farms and enterprises fund capital improvements to maintain and enhance the viability of their farms.

The DIF program will assist farms that are engaged in the commercial production of cow milk or cow milk products. It was developed by the Maine Department of Agriculture, Conservation and Forestry (DACF) and is administered by the Finance Authority of Maine (FAME). The program will operate in accordance with three core principles to:

1. Provide financial support for sound business propositions
2. Offer funds at reasonable rates and terms
3. Partner with private sector equity

More about the program can be found on both DACF’s website and on FAME’s website, which provides the Department’s Eligibility Form and FAME’s Loan Application. The DACF and FAME will host an informational meeting for all dairy farms interested in learning more about this investment opportunity.

Dairy Improvement Fund Informational Meeting

Date & Time: Thursday, June 14th, 10:30 a.m.–12:30 p.m. Location: Marquardt Building (Room 118), 32 Blossom Lane, Augusta Presenters: Ron Dyer, Director of the Bureau of Agriculture, Food and Rural Resources; Roxanne Broughton, Commercial Loan Officer at FAME

An overview of both the eligibility and application procedures will be provided, with time for Q&A for prospective applicants.

Loan Insurance Expected to Help Retain 145 Jobs in Masardis

At its May 17, 2018 board meeting, the members of the Finance Authority of Maine (FAME) approved 90% loan insurance on a loan totaling $944,000 by TD Bank to Maibec USA LLC, for the purchase of a feed conveyor deck and de-barker machine for its mill operations in the Aroostook County town of Masardis. FAME’s actions, in partnership with TD Bank, are expected to help retain 145 Maine jobs. The purchase of the de-barker system is intended to bring operational efficiencies to the mill. Maibec USA is a wholly-owned subsidiary of Groupe Maibec, Inc., which in turn is a subsidiary of Franchaleine Inc., a family owned Canadian company headquartered in Quebec, Canada. In 2015, Maibec purchased Fraser Timber’s facility in Masardis. “FAME is pleased to support Maibec’s plans for efficiencies and continued operations in Aroostook County,” stated FAME Chief Executive Officer Bruce Wagner. “We are happy to help facilitate this transaction to help the company better optimize the lumber mill for long-term success.” FAME’s Commercial Loan Insurance Program insures a portion of a loan to a business made by a participating financial institution. For a business, it may mean the difference between obtaining a loan or never getting the opportunity to start a business. “We are grateful for FAME’s assistance with our plans,” stated Jacques Vachon, Vice President of Finance and Administration at Maibec, Inc. “This financing should result in additional work at the mill with a better value-added yield for our operations.”

Former Senator George Mitchell Delivers Remarks to Audience of 300

The Finance Authority of Maine (FAME) celebrated another year of successful business and educational partnerships at its annual meeting and awards event, Showcase Maine. This year’s event was held on Tuesday, November 14, 2017, at Portland’s Holiday Inn By The Bay. Approximately 300 guests were in attendance, as well as over forty exhibitors. Showcase Maine is FAME’s annual celebration of its successful partnerships with Maine’s business, lending, governmental, and higher education communities. The evening featured a reception, including a showcase of exhibits by Maine businesses and educational organizations that partner with FAME; a dinner and awards presentation; and a keynote speech by former United States Senator George Mitchell.

Mitchell, a native of Waterville and a former United States Senator from Maine, has enjoyed a long and distinguished career. He served for several years as Chairman of DLA Piper, and now is Chairman Emeritus. Prior to that he served as a federal judge; as Majority Leader of the United States Senate; as Chairman of peace negotiations in Northern Ireland, which resulted in an agreement that ended an historic conflict; and most recently as U.S. Special Envoy to the Middle East. In his remarks, the former Senator optimistically addressed the nation’s past and future challenges, with particular emphases on the changing economy and technological advancements, and their resultant impacts on the workforce. Following his remarks, he responded to numerous audience questions. “FAME enjoyed celebrating the successes of the past year with our partners in Maine’s business, lending, governmental, and higher education communities,” said Bruce Wagner, FAME’s Chief Executive Officer. “It is always gratifying to showcase the progress we all are making educating our workforce and growing well-paying Maine jobs. We were as well pleased to honor our partners who help to make Maine’s economic and educational future brighter.” This year’s award recipients included: Casco Bay Vending, LLC, d/b/a Casco Bay Food & Beverage Business at Work for Maine Award Casco Bay Food & Beverage offers traditional and healthier refreshment selections to meet Maine employees’ nutritional needs and help boost energy and productivity at work places. An independently-owned Maine business that serves fourteen of Maine’s sixteen counties, the company provides a full array of services, including traditional vending (snack and beverage machines), micro-marts, convenience stores at business locations, full-service cafe operations and dining, and office coffee and sundry supplies. FAME will be recognizing this company for helping to preserve its Maine ownership. The company was the recipient of FAME’s largest loan insurance approval last year, in partnership with Camden National Bank, which helped to create and retain 545 quality Maine jobs. Harold Alfond® Foundation Education at Work for Maine Award Founded in 1950, the Foundation furthers the philanthropic legacy of the late Harold Alfond, founder of Dexter Shoe Company and a longtime supporter of Maine communities and institutions, including two programs which FAME helps to administer: the Harold Alfond College Challenge and the Alfond Leaders Student Debt Reduction Program. Camden National Bank Lender at Work for Maine Award (over $1.5 billion in assets) This is the bank’s eighth time as an awardee. Over the past year, Camden National partnered with FAME on 46 loans totaling over $17.3 million. This in turn helped to create 110 Maine jobs and retain an additional 435 jobs. In addition to being a top partner in bringing business to FAME, Camden National has grown remarkably in recent years and is actively committed to the communities in which it operates. Machias Savings Bank Lender at Work for Maine Award (up to $1.5 billion in assets) Machias Savings Bank is being recognized in the category for lenders with less than $1.5 billion in assets. This past year, FAME partnered with Machias Savings on 47 loans to Maine companies totaling over $12.7 million. This helped to create 86 Maine jobs and retain an additional 298 jobs. Machias Savings is dedicated to serving Maine communities, contributing many hours of volunteer labor and generous financial donations to worthy causes. Earlier in the day at the regular monthly meeting of the FAME board of directors, new officers were elected for 2017-2018. These include: James (“Jay”) Violette, Jr., of Waterville as Chair; Richard Roderick of Cape Elizabeth as Vice Chair; and David Daigler of Portland as Treasurer.

According to Nerdwallet.com, Maine students left more than $11 million in Federal Pell Grants (federal grants that don’t need to be repaid) on the table for the 2014-2015 academic year (the most recent year for which data is available) because they did not complete the Free Application for Federal Student Aid (FAFSA). Each year in Maine, only 60% of Maine high school seniors complete the FAFSA, the federal application that college, universities, and trade schools use to determine student eligibility for federal financial aid, according to FAME. While a 60% FAFSA completion rate puts Maine in the top tier of state completion rates, it is critical that the remaining 40% of high school seniors file their FAFSA so they can understand their financial options for pursuing education after high school. To see FAFSA completion rates for each of Maine’s high schools visit here. “Unfortunately, many families mistakenly believe they won’t be eligible for federal financial aid, so they don’t fill out the FAFSA, leaving potentially significant grant money on the table or missing out on financial aid all together,” said Martha Johnston, FAME Director of Education. “We want to change that and encourage every Maine family sending a child off to college, trade or technical school to complete the FAFSA.” According to FAME, there is no specific income “cut-off” so families won’t know what they are eligible to receive unless they apply. And any amount of grants and scholarships can make a big difference in helping to reduce total student debt. The average student debt in Maine is 29,644 per student, and 63 percent of Maine students graduate with debt.¹ On Sunday, October 1, 2017, the FAFSA for the 2018-2019 school year will be available to families at fafsa.gov. Previously, the FAFSA became available in January, but last year the availability date was permanently changed to October 1. Having the FAFSA available earlier can result in students receiving their financial aid awards earlier and having more time to understand their awards and make the decision as to where to attend school. “We encourage Maine families to complete the FAFSA as soon as they can – in fact we like to have families complete the FAFSA in October because aid eligibility is different for every school and can be disbursed on a first-come first-served basis,” noted Johnston. “Filing the FAFSA early is the best way to maximize financial aid eligibility and reduce student loan borrowing.” Don’t Fear the FAFSA Facebook Live Events  FAME is collaborating with local comedian Karen Morgan, a finalist on Nickelodeon Television’s Search for the Funniest Mom in America. Morgan, who lives in Cumberland and is the mom of three children, sent her oldest off to the University of Maine at Farmington this fall. She will be featured in a series of free Facebook Live events, called “Don’t Fear the FAFSA,” hosted by Mila Tappan, an outreach manager for FAME’s CAFE´ (College Access and Financial Aid) Team on the FAME Facebook page. Together, the two will help walk parents, and students, through the various stages of completing the FAFSA and answer questions in real-time. The Don’t Fear the FAFSA Facebook Live events will air on the following Tuesdays at 7:30 PM.  Dates and themes for each event are:

• Tuesday, September 26 – What is the FAFSA & How to Get Prepared
• Tuesday, October 10 – Filling out the FAFSA: Tips and Tools
• Tuesday, October 24 – Busting FAFSA Myths: What’s Holding You Up?
• Tuesday, November 7 – FAFSA Complete, Now What?

“We’re excited to add Karen’s voice to our statewide FAFSA education efforts,” said Johnston. “Her humor will help us shatter some of the current myths and hopefully eliminate some of the fear around filling out the FAFSA, by providing insights and a real-mom perspective.” Morgan admitted to FAME that she didn’t complete the FAFSA for her son because she had been dissuaded by friends that it was too hard to complete. “I wish I’d had FAME as a resource when I was considering filling out the FAFSA because I may have made a different decision,” said Morgan. “I’m excited to dig into the form this year, with FAME’s help, and see what happens.” Statewide Help Sessions Over the last 13 years, FAME has hosted free statewide in-person FAFSA Labs or in-person help sessions for families. At those events, families can get help from an experienced FAME representative or financial aid professional to fill out the FAFSA . This year, 15 sessions are scheduled from October 12 to October 30. A complete list of dates and locations is available at FAMEmaine.com. If families are not able to attend the in-person help sessions, FAME also offers online support at FAMEmaine.com. Families can also call 1-800-228-3734 with questions. For those families attending the in-person help sessions, FAME recommends bringing the following information:

• FSA ID – this user name and password is needed to access all Federal Student Aid websites, including the FAFSA. We recommend the student and one parent create it ahead of time at studentaid.gov
• Social Security numbers (SSN) for student and parents
• 2016 Federal Income Tax Returns, W2s and other records of money earned
• Current bank statements for student and parents

STEM professionals throughout the state selected to receive student loan debt relief, Applications now open for second round

The Harold Alfond Foundation and the Finance Authority of Maine (FAME) are pleased to announce the first cycle of Alfond Leader awardees, who collectively will be awarded up to $685,000 in student loan debt relief. A second application cycle also is being launched, with applications due by November 15, 2017. To learn more about the program and apply: AlfondLeaders.org. The Alfond Leaders program was originally launched in late February 2017. The competitive program provides student loan repayment assistance to people who live and work
in Maine in a Science, Technology, Engineering and Math (STEM)-designated occupation at a Maine-based employer. The Alfond Leaders Advisory Committee has been working since that launch to prepare for and review over 400 applications for the competitive loan repayment program. The selected Alfond Leaders may receive payments up to half of their outstanding student loan balance, not to exceed $60,000, as loan repayments on their outstanding student loans. The payments will be made in two installments, the first installment will be paid after a participant demonstrates five years of qualifying employment and state residency, and the second installment will be paid after the completion of an additional five years of qualifying employment and state residency. The Alfond Leaders Program is administered by FAME. The selected awardees for the first cycle work in a variety of Maine-based organizations as scientists, physicians, engineers, information technology professionals, and entrepreneurs. They are: Katrina Christie, Yarmouth; Mick Daigle, Yarmouth; Kendra Emery, Rockport; Christopher Gauvin, Rumford; Jordan Hallett, Presque Isle, Brian Harris, Gray; Devan Houlihan, Portland; Paul Koroski, Portland; Zachary Leavitt, Buckfield; Amanda Lessard, Bowdoin; Alec Mackenzie, Freeport; Elisabeth Marnik, Franklin; Owen McCarthy, Gorham; Steven Munger, Mount Desert; Zachary Murphy, Waterville; Kristen Onos, Ellsworth; Cote Ward, Belmont; Ryan Whitt, Farmington; John Williams, Freeport; and Nicholas Workman, Rome. Nicholas Workman, a quality engineer at New Balance in Skowhegan, was selected as one of the first Alfond Leader awardees. He has a degree in engineering and initially upon graduation went from college in Massachusetts to work at a firm in Connecticut. Within a year, he returned to his home state of Maine with his fiancée. “After ten months, we decided to move back for the quality of life,” he said, “We were making a financial turn backwards and would have to make some sacrifices, but we wanted a future in Maine.” He mentions how his student loan debt payments affect his family’s ability to own a home and travel, and says, “I was fortunate to find a job at New Balance and recently started a family. The Alfond Leaders program will help me be less hampered by student loan debt and help us to keep living and working in Maine.” Alec Mackenzie studied engineering at Maine Maritime and received his MBA from Babson College. In 2007 he started and continues to operate his own mechanical engineering firm, Mackenzie Design, in Portland with two employees. “The Alfond Leaders program drastically shifts the calculus of our family’s planning. It eases the student loan debt we have and gives us confidence that we can make our lives here. It also frees us up to make further investments in human capital at Mackenzie Design. We can accelerate our growth and create more great STEM jobs in Maine.” “We were delighted to receive such strong interest in our Student Debt Reduction Program for STEM workers,” said Greg Powell, Chairman of the Harold Alfond Foundation. “Our hats go off to the Advisory Committee and the team at FAME for selecting our first group of Alfond Leaders. Given the very competitive applicant pool, the selection process was no easy task. But with this new group of outstanding professionals, and those chosen in the future, the Foundation will be as pleased to help pay down their college debt as we are to have them here in Maine contributing to our economy.” In addition to announcing the first awardees, the Harold Alfond Foundation and FAME are welcoming more applicants for the second round of Alfond Leaders. Applications are due by November 15, 2017, and the second group will be announced by the end of this calendar year.

Who is eligible?

• Maine residents or persons who will become Maine residents upon being hired by a Maine-based business
• A person employed or who will be employed by a Maine-based business in a designated STEM occupation
• An applicant must have a higher education degree or certificate
• An applicant must have outstanding student loan debt
• Candidates must submit an application, including a written essay and resume, a statement of intent to live and work in Maine for ten years; an employment certification by a Maine-based employer; and disclosure of the amount, source, and terms of the student loan indebtedness.
• Those selected to become Alfond Leaders will receive debt reduction payments made on their behalf paid in two disbursements after five and ten years, respectively, of qualifying employment.

About the Harold Alfond Foundation

The Harold Alfond Foundation furthers the legacy of Harold Alfond by investing in education, healthcare, youth development, and other philanthropic charitable causes that hold the promise of making enduring transformative contributions to the community and state of Maine. To learn more about the Harold Alfond Foundation, please visit www.haroldalfondfoundation.org.

For the third year in a row, the Finance Authority of Maine (FAME) has been named as one of the Best Places to Work in Maine. The awards program, created in 2006, is a project of the Society for Human Resource Management–Maine State Council and Best Companies Group. Partners endorsing the program include: Mainebiz, the Maine State Chamber of Commerce, and Maine HR Convention. This statewide survey and awards program was designed to identify, recognize and honor the best places of employment in Maine, benefiting the state’s economy, its workforce and businesses. The 2017 Best Places to Work in Maine list is made up of 80 companies in three size categories: small (15-49 U.S. employees), medium (50-249 U.S. employees), and large (250+ U.S. employees). FAME was honored as part of the medium-size business category. “We are pleased and honored to receive this designation for a third straight year. This recognition confirms what we have known all along: FAME is a special place to work due to our can-do attitude, terrific staff and board, and unique and rewarding mission. We love coming to work every day because we are charged with expanding economic and educational opportunities for all Maine residents,” stated Bruce Wagner, FAME’s Chief Executive Officer. Companies from across the state entered the two-part process to determine the Best Places to Work in Maine. The first part consisted of evaluating each nominated company’s workplace policies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final rankings. Best Companies Group managed the overall registration and survey process in Maine and also analyzed the data and used their expertise to determine the final rankings. FAME will be recognized at the Best Places to Work in Maine awards ceremony on October 10 and will be listed in a special publication by Mainebiz. The final rankings will be announced at the event. For more information on the Best Places to Work in Maine program, visit www.BestPlacestoWorkME.com or contact Jackie Miller at (717) 323-5237.

Loan Insurance Expected to Help Create and Retain 124 Jobs

At its August 17, 2017 monthly board meeting, the members of the Finance Authority of Maine (FAME) approved loan insurance on two loans totaling $3.6 million by Androscoggin Bank to Dubba, LLC, a real estate holding company, for the purchase of land and construction of a new boat manufacturing and maintenance facility in Belfast. The property, located at 101 Front Street, is currently occupied by a related operating company, FSS, Inc., d/b/a Front Street Shipyard. FSS is a full-service boat yard occupying 1,500 feet of frontage on Penobscot Bay. The company provides new boat construction, restoration and refitting for a variety of vessels, including advanced composite construction and classic wooden yachts. The company also offers a marina and storage facility for customers. FSS plans to expand its operations by exercising an option to purchase land it currently leases from the City of Belfast. The total project cost is estimated to be $5.8 million. The company has plans to engage in new technology and enter new markets as it expands. FAME’s actions are expected to help create forty new jobs and retain an additional eighty-four jobs. “FAME is pleased to support Dubba’s plans for growth and expanding manufacturing jobs in a traditional industry in Waldo County through Front Street Shipyard,” stated FAME Board Chair Ray Nowak. “We wish the company all the best with its plans for growth and success.” FAME’s Commercial Loan Insurance Program insures a portion of a loan to a business made by a participating financial institution. For a business, it may mean the difference between obtaining a loan or never getting the opportunity to start a business. “We are grateful for FAME’s assistance with our plans for a new boat manufacturing facility in Belfast,” stated John “JB” Turner, President of FSS, Inc. “This financing will help our company grow and add jobs in one of Maine’s most historic industries.”