Approved by Maine voters in June 2017, the Maine Technology Asset Fund 2.0 (MTAF 2.0) is one of several state bond funds administered by MTI. MTAF 2.0 provided for $45 million to be distributed in a competitive process to Maine-based public and private companies to support infrastructure, equipment, and technology upgrades in MTI’s seven targeted sectors. A Lightning Round for proposals was held in the fall of 2017, resulting in 183 proposals from all 16 counties in Maine, totaling more than $400 million. After a thorough and transparent review process, MTI made 18 investments totaling $46,063,836, having augmented the MTAF 2.0 fund with $1,063,836 of MTI’s core funding.
An independent economic analysis calculated that these 18 projects will generate more than 5,350 jobs and $1.4 billion in economic impact for the State of Maine, reaching every corner of the state.
Read about how Verso Corporation and Hyperlite Mountain Gear used MTAF2.0 funds to innovate and ultimately create more jobs and economic impact for Maine. You can also read and download the entire MTAF 2.0 report here.