Issue link: https://nebusinessmedia.uberflip.com/i/1546328
V O L . X X X I I N O. X I X 50 Fact Book / Doing Business in Maine B U S I N E S S R E S O U R C E S S ince its creation in 1983, through its commercial loan insurance and lending activities alone, FAME has supported more than 12,000 Maine companies with over $2.5 billion in financing, helping to create and retain more than 200,000 jobs across the state. For fiscal year 2026, FAME sup- ported $85 million in business-related financing, along with millions more in partner-administered loans, investments, and tax credits serving Maine businesses and communities. Business growth and economic development FAME's financing tools fill critical gaps in Maine's capital landscape, par- ticularly for rural businesses and capi- tal-intensive industries. By leveraging public and private investment, FAME helps businesses expand, modernize and compete. In addition to our loan insurance and lending activities, since 2018 FAME has supported the Maine economy by providing: More than $680 million in bond financing supporting health care, higher education, manufacturing and other key sectors Over $125 million invested in high- growth Maine companies through the Maine Seed Capital Tax Credit program Approximately $100 million delivered in recovery and growth funding to support more than 300 businesses statewide Workforce and education A strong workforce is essential to Maine's long-term economic health. FAME supports Maine families by expanding access to education and training, helping residents build the skills needed to meet employer demand. rough its programs, FAME: Supports thousands of Maine students and families each year through grants, loans and savings programs Administers Maine's 529 college savings plan and education financ- ing programs Provides financial education, col- lege access support, and career planning resources to communi- ties statewide Why it matters FAME's tools help retain existing jobs while supporting new job growth, attract private investment, and ensure that Maine businesses, especially those in rural communities, have the resources they need to grow, innovate and succeed. For more than 40 years, the Finance Authority of Maine has helped Maine businesses grow, strengthened rural economies and made education more affordable for Maine families. As a quasi-independent state agency, FAME plays a central role in the state's economic and workforce development ecosystem, providing targeted financial tools that help Maine people and businesses succeed. What the Finance Authority of Maine delivers for the state B y F A M E s t a f f P H O T O S / C O U R T E S Y O F FA M E BUSINESS FINANCING IN ACTION: Merrymeeting Shellfish Co., Harpswell Merrymeeting Shellfish Co., based in Harpswell, is a state-of- the-art hatchery producing oyster seed for farms throughout Maine and along the East Coast. The company currently produces approximately two million seeds annually. FAME provided a direct loan to support the purchase of the company's hatchery, helping retain 10 jobs and enabling an expansion that doubled its workforce. Additional financ- ing through the Agricultural Marketing Loan Fund supported growth at its affiliated aquaponics operation, Muddy River Farm, increasing staffing from five to 20 employees. Through innovation, including a patent-pending recirculating system, the company is advancing Maine's aquaculture sector while strengthening the state's working waterfront economy. Oyster seeds from Merrymeeting Shellfish hatchery. U.S. Sen. Angus King, I-Maine, at Merrymeeting Shellfish hatchery. A worker at the Merrymeeting Shellfish hatchery. P H O T O S / C O U R T E S Y O F FA M E