| Michaud Announces $1.5 Million for Northern Border Regional Commission |
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| Wednesday, September 30 2009 | |
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Commission is designed to promote economic development of region WASHINGTON, DC – Today, Congressman Mike Michaud praised House passage of the conference report for the Energy and Water Development Appropriations Act, which includes $1.5 million for the Northern Border Regional Commission (NBRC). The NBRC was created by legislation authored by Michaud and passed into law last year. The NBRC is charged with investing in the economic development of the most economically distressed areas of Maine, New Hampshire, Vermont, and parts of Upstate New York. Once it is approved by the Senate, this bill will go on to the President’s office to be signed into law. “The economic development commission will now be able to begin working for the people of Maine and the northern border region,” said Michaud. “If there was ever a time to get this commission off the ground it is now. This commission will help our most economically distressed areas by funding projects that will create jobs and promote business development. While I am disappointed that the $3 million we passed in the House was not included in the final conference report, this funding is a positive step forward. I would like to thank all those in Maine, including Senator Snowe, who helped make this commission a reality.” The NBRC’s approach to regional economic development is based on the highly successful Appalachian Regional Commission (ARC) model. “This effective public–private partnership model has enjoyed overwhelming bipartisan support because it works and because it has been a good investment for the American taxpayer. For example, in Fiscal Year 2005, each dollar of ARC funding leveraged $2.57 in other public funding and $8.46 in private funding. This represents a tremendous return on investment.” More information on the Northern Border Regional Commission can be found HERE.
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