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Maine SBDC program creating jobs at record pace

AUGUSTA, Maine — According to its annual report, the Maine Small Business Development Centers (SBDC) program assisted in the launch of 124 new businesses in 2014 while retaining or creating 1,061 jobs. That’s the most jobs the program has combined to save or retain in its 37-year history.

Both 2014 measurements also showed increases over the previous year, the SBDC report noted. In 2013, the program helped start 103 businesses while retaining or creating 907 jobs.

The SBDC received roughly about $1.9 million in state and federal funding last year and generated a return on investment of $1.37 in tax revenue for every dollar spent. The program’s clients created $39.8 million in capital investments.

The Maine Small Business Development Centers program is primarily funded by the Maine Department of Economic and Community Development and the U.S. Small Business Administration. The funds pay 14 state business advisers who assist businesses in finding and accessing capital, conducting research and providing technical assistance.

Source: Portland Press Herald

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