Maine to market it's potential in the alternative energy sector around the world

By Ramona du Houx - June 4th, 2010 

The new Foreign Direct Investment Initiative will focus on increasing investments in Maine’s renewable energy and advanced materials fields, enhancing Maine’s capacity to be a center of excellence in wind energy, composites and advanced materials. The initiative will attract investments in business and research and development, further strengthening Maine’s internationally active, exporting companies and supporting the State’s universities.·

“We have an exciting opportunity in Maine to build on our core strengths in the renewable energy and composites technologies sectors,” said Governor Baldacci. “The trade mission I led last year to Germany and Spain emphasized and reinforced that Maine as a desirable place to invest in the energy sector. Europe showed a lot of interest in Maine in these fields, and several investment groups have visited Maine since last September as a result of the mission. The Direct Foreign Investment initiative builds on this momentum.”

The Maine International Trade Center (MITC) will manage the program, which will include:

• Increasing outreach in international markets through trade shows, trade missions and investment seminars in targeted areas;
• Developing international relationships in the renewable and advanced materials areas; and
• Hiring a Foreign Investment Attaché to work on targeted markets in Europe and Asia to bring foreign investment and joint ventures into the State of Maine.

The Governor said that supporting foreign investment in Maine’s key energy and composites sectors will help Maine achieve numerous goals.

“Supporting clean energy development will not only keep money here at home where it can be put to work for Maine people, but it will grow opportunities for Maine businesses and lead to thousands of new, good paying jobs,” said the Governor. “I am excited about a focused Foreign Direct Investment Initiative and the potential we have to rapidly expand our ability to attract business in these areas.”

The Governor specifically thanked the Maine International Trade Center and the support of a core group of private sector companies including Tex Tech and its CEO Ciaran Lynch, public sector agencies led by Maine’s Department of Economic and Community Development and the Maine Technology Institute’s Cluster Initiative Program.

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