AUGUSTA (AP) — Maine voters are set to decide on a $50 million bond issue at a special election next month.
The Maine Technology Institute would distribute $45 million in grants for upgrades in fields like aquaculture, marine technology and advanced technologies for forestry and agriculture. Recipients would be required to match state dollars with an equivalent amount of federal or private funds.
Question 1 on the June 13 ballot has a goal of expanding employment or preserving jobs.
The funds would be awarded through a competitive process to Maine-based public and private entities.
The Small Enterprise Growth Fund would direct the remaining $5 million to qualifying small businesses in fields like marine sciences, biotechnology and manufacturing.
The bonds are expected to cost $63.7 million in total, including interest.
Maine State House is the state capitol of the State of Maine in Augusta, Maine, USA.
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