Mainebiz

V O L . X X I I N O. X X I I I O C T O B E R 3 , 2 0 1 6 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E The University of Maine at Farmington announced the "Farmington is Family" Alumni Tuition Program offering in- state tuition rates and scholarships to college-bound children of UMF gradu- ates residing out-of-state. The alumni benefi t program will be for all incoming and returning students, beginning in the fall of 2017. Kents Hill School completed the Bibby and Harold Alfond Dining Commons, a $6.5 million campus dining facility. The Maine Juvenile Justice Advisory Group in Augusta was awarded $400,402 for its three-year plan to address juvenile justice and delin- quency prevention issues, as well as to continue practices that have led to a reduction in system-involved youth. Rock City Coffee brews ESOP Rock City Coff ee Roasters and Rock City Café will be joining the grow- ing ranks of Maine's employee-owned companies. Susanne Ward, owner of the Rockland business, told the Bangor Daily News the ESOP is part of her succession plan for retirement. "My crew, the average age is probably 35 years old. at's a fabulous age for an entrepreneur. ey all have energy. ey're all committed to Rockland. It's a great, great time. ey are the future," Ward told the BDN. "And for me, I've been doing this so long. It's easier for me to get stuck in a mindset. I try to stay very open now. And I try to treat them like they are co-owners. I want them to have that sense of ownership." N O T E W O R T H Y M I D C O A S T & D O W N E A S T Camden National Corp., the par- ent company of Camden National Bank and Acadia Trust N.A., an- nounced that Acadia Trust N.A. will become part of the bank and will be branded as Camden National Wealth Management. Mary Beth Haut will serve as managing director and execu- tive of the newly formed group. The First Bancorp in Damariscotta declared a quarterly dividend of 23 cents per share. This third-quarter dividend is payable Oct. 28 to share- holders of record as of Oct. 5 and is equal to the 23 cents per share the bank paid in the last quarter. Based on the Sept. 21 closing price of $23.50 per share, the annualized divi- dend of 92 cents per share translates into a yield of 3.91%. The National Institute on Aging se- lected The Jackson Laboratory in Bar Harbor to co-lead the Alzheimer's Disease Precision Models Center in conjunction with Indiana University and awarded $25 million in grant funding to establish and support the effort to combat Alzheimer's disease. Jackson Lab will receive $15 million of this funding over the course of fi ve years. Ashland pellet mill lands UMFK contract Northeast Pellets in Ashland was awarded a contract to provide pellets to the University of Maine at Fort Kent, an agreement seen as having a potential $5.25 million impact on the local economy, according to President and CEO Matthew Bell. e con- tract, awarded through a bid process, went into eff ect July 1. e one-year initial contract could potentially be renewed twice. Sales could increase $750,000 over the potential three-year life of the contract. Based on eco- nomic impact multipliers developed by the state that projects a seven-fold increase in economic activity tied to manufacturing, the impact to the region could be $5.25 million, includ- ing hundreds of thousands of dollars in additional residual revenue for mills along the Route 11 corridor. "We currently employ one, but will need 15 to meet production needs," he said. N O T E W O R T H Y N O R T H E R N & E A S T E R N The Professional Logging Contractors of Maine raised $81,105 for Children's Miracle Network hospitals in Maine at its 20th Annual Log a Load for Maine Kids Golf Tournament held at JATO Highlands Golf Course in Lincoln. The Whoopie Pie Café at 347 Wilson St. in Brewer closed. Machias Savings Bank is proud to celebrate our back-to-back honor of being named one of the Top 10 Banks to Work For by American Banker Magazine. ©2016 Machias Savings Bank. Member FDIC. We strive to be Exceptional In Every Relationship In Every Product Developed In Every Service Rendered In Every Promise Made Call us today! Helping businesses stay competitive with specialized employment services • Temporary, Temp-to-Hire, and Direct-Hire • Skilled Trades • Flagging, Construction, Light Industrial, General Labor • Administrative, Finance/ Accounting, General Office • Safety/Worksite Services 1-800-639-8802 mainestaff.com Direct Personnel / Project Staffing / Project Staffing / / Project Flagging / Project Flagging / Let us go to work for you! M I D C O A S T & D O W N E A S T N O R T H E R N & E A S T E R N

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