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V O L . X X I I I N O. V I M A R C H 2 0 , 2 0 1 7 12 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 parts of Kennebec and Waldo coun- ties. A new $6.5 million substation in South China and an additional distribution circuit serving the towns of China, Freedom, Liberty, Palermo, Vassalboro and Windsor were recently put into service. The University of Maine at Farmington announced that its Maine Mathematics Coaching Project received a $174,848 grant from the Maine Department of Education's Math and Science Partnership Project. The funds will be used to help Maine kindergarten through eighth-grade educators and their school districts strengthen teaching and learning in mathematics with the goal of increasing the math profi cien- cy of Maine students. Hotelier buys iconic Lobster Pound Lincolnville's Lobster Pound, which closed after last season, has new own- ers. e Bangor Daily News reports that Danny and Carla Lafayette, whose Lafayette Hotels group owns the Holiday Inn by the Bay and Fireside Inns & Suites in Maine, agreed to pay $700,000 for the restau- rant, which has been prominent stop for visitors on Route 1 in Lincolnville. e foreclosure auction was held March 9. Danny Lafayette told the BDN the decision to purchase the business was "probably 75% sentimen- tal and 25% business." e previous owner, Dick McLaughlin, closed the restaurant last fall and fi led for Chapter 7 bankruptcy. McLaughlin said at the time that business after the recession did not keep pace with the cost of running a waterfront property, including increased insurance rates. He also cited the pending minimum wage increase. Lafayette Hotels' port- folio also includes the Senator Inn & Spa in Augusta. Robbins Lumber to produce energy e loss of pulp markets for woodchips produced at its 136-year-old sawmill in Searsmont is prompting Robbins Lumber to invest in a biomass plant that can convert that waste wood into energy. e Bangor Daily News reported that the company is building a $36 million, 8.5 megawatt biomass plant that would sell the energy it produces to Central Maine Power. Robbins reached a 20-year purchase agreement with CMP for electricity produced at the biomass plant, which will require additional biomass fuel from local log suppliers to run at maxi- mum effi ciency. e project has been approved by the local planning board and is awaiting a fi nal OK from the Maine Department of Environmental Protection, the newspaper reported. Island Institute launches program for small businesses e John T. Gorman Foundation is helping to back a new program from the Island Institute to fund coastal and island businesses. e Island and Coast Business Launchpad program, announced by the Island Institute in its Working Waterfront publication, aims to help entrepreneurs in "geo- graphically isolated communities." e program will include an "inno- vation fund," to provide fl exible and community-focused loans, as well as business support, micro-grants, digital and fi nancial literacy classes and an aquaculture business-development program. e program was introduced by Briana Warner, Island Institute's director of economic development. e Island Institute, which is based in Rockland, is a nonprofi t whose mission is to keep Maine's year-round islands economically viable. 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 Bar Harbor Bankshares reported net income of $14.9 million in 2016. Earnings were relatively consistent with prior year-end, while 2016 earn- ings included charges of $2.7 million related to the Lake Sunapee Bank Group acquisition previously an- nounced and the core system conver- sion that is expected to be completed in the second quarter of 2017. The bank also announced a three-for-two split of its common stock. Penobscot East Resource Center, a nonprofi t fi sheries resource organization in Stonington, announced it will change its name to Maine Center for Coastal Fisheries to better refl ect its collabora- tive and comprehensive mission. Eddie and Judy Hemmingsen recently purchased Ullikana in the Field, a bed and breakfast in Bar Harbor. NOW's the time to buy! NOW's the time to refinance! RIGHT NOW is the time to contact Saco & Biddeford Savings. Apply for a loan online or at any of our convenient branches. SACO BIDDEFORD WESTBROOK SCARBOROUGH SOUTH PORTLAND OLD ORCHARD BEACH "at's My Bank!" NOW's the time to build! NOW's the time to make it happen! N O W 's N O W 's 's ' t h e t i m e ! www.sbsavings.bank 1-877-SACO-BID (722-6243) Knowing where you can dig around buried utilities is good safety and smart. When it comes to cutting concrete, the same applies. Knowing where you can cut concrete, and more importantly not cut concrete, is also smart and can cut concrete, is also smart and can save you thousands of dollars — and countless hours — on your next project. • Electronic Locating • Concrete Scanning • Ground Penetrating Radar WE KEEP WORK AREAS SAFE To learn more about who has the expertise and equipment to help you safely dig and cut, visit digsmartofmaine.com or call Glen at 207.749.7231 www.digsmartofmaine.com REBAR RADIANT HEAT PIPES CLEAR BULLSEYE FOR CORING Private Utility Locating M I D C O A S T & D O W N E A S T

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