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Notes from APP and NMDC
Volume 2, Issue 76
Dec. 13, 2013
In This Issue
Investor News
Reviewing Assets
APP investor to expand in the region with new Fort Kent branch

 

     FORT KENT - Fort Kent area residents will soon have a new choice when it comes to banking. The well-known building that sits at 79 West Main Street in downtown Fort Kent was destined to be a bank. Always has been. And when The Bank of Maine branch at that location closes at the end of today, Katahdin Trust Company will be standing by, having purchased the facility for an opening in 2014.

    "We're excited with the purchase of this facility," stated Katahdin Trust Company President & CEO, Jon Prescott. "By opening a branch in Fort Kent, Katahdin Trust Company will complete our coverage of the Aroostook County market and solidify our commitment in becoming the bank you can trust for community banking at its best." Katahdin Trust Co.  

    Katahdin Trust Company operates 18 locations throughout the state but is largely concentrated across Aroostook County. By acquiring the Fort Kent facility, Katahdin Trust Company will bring to three the number of offices it operates in the immediate St. John Valley market with its closest location in Eagle Lake.

    Katahdin Trust is a longtime partner in the Aroostook Partnership for Progress (APP).

    "This is another example of Katahdin's commitment to investment in Aroostook County and efforts to grow the region's economy," said APP President Bob Dorsey.

    Prescott added, "It made good geographic sense for us to acquire the Fort Kent facility as it is strategically located within our footprint in Aroostook County. We've always said we need to complete our service of the Aroostook County area and with an office in Fort Kent we will do just that."

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Mobilize Northern Maine discussed at latest CGPZ steering committee meeting

    CARIBOU - The Northern Maine Development Commission facilitated Community Guided Planning and Zoning endeavor continues as the steering committee reviews the assets of Aroostook County.

    Meeting Wednesday at the Caribou Inn and Convention Center, members of the committee were updated on Mobilize Northern Maine, an asset-based economic development initiative.

    "The CGPZ process will use an 'asset-based' approach, similar to that which has been successfully used in Mobilize Northern Maine, which is spearheaded by the Aroostook Partnership for Progress," said Jay Kamm, senior planner at NMDC and meeting facilitator. "This approach proceeds by identifying key assets and exploring ways to leverage the assets to create greater benefits for the area."

    APP President Bob Dorsey provided the committee members, who represent landowners, large and small business, environmental groups and others, an abbreviated session on Mobilize Northern Maine.

    "I tried to highlight the use of regional subject matter experts and that we collected a lot of information and had representation across the entire spectrum of industry sectors," said Dorsey. "We have built super networks in our six working groups."

    Dorsey also emphasized the need for new industry, like mining, and the challenges associated with the declining 18- to -44-year-old workforce in the region.

    Kamm said the CGPZ steering committee wants to utilize the expertise from the four industry sectors identified by Mobilize Northern Maine as key in growing the economy of Aroostook County: agriculture, forestry, manufacturing and renewable energy, and review barriers to those industries in the UT.

    "The committee may determine that there may be some 'low hanging fruit' as far as areas that can be rezoned and uses reviewed in the unorganized territories.

    Also discussed at the meeting, the committee reviewed zoning in the unorganized territories and is beginning to examine where both districts and standards can be modified so that economic development can be promoted and expanded while protecting the environment.

    The Maine Land Use Planning Commission (LUPC) selected Aroostook County as the initial region to participate in a series of local workshops to help determine overall regional interest and further develop a framework for the community guided planning and zoning process. Recent efforts to improve the effectiveness of managing land use in the unorganized and deorganized areas of Maine have focused in part on the need for more locally guided and proactive planning for these areas.

    The next CGPZ steering committee meeting is scheduled for Jan. 8 at 9 a.m. at the NMDC office in Caribou. There will be conference call capabilities available.

    For more information, contact Jay Kamm at 498-8736.


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