The Stonington Economic Development Committee (SEDC) was formed in 2004 with the goal of supporting and sustaining the island economy of Stonington and Deer Isle, Maine. Today the mission and goal of the committee is to sustain and support all businesses including but not limited to the seafood industry, tourism, arts, construction, retail, and agriculture. The hope is to develop, through local efforts, a more vibrant year-round economy for local businesses. The committee offers support to local businesses and works to implement strategies that help create and retain year round jobs.
The committee meets the first Thursday of the month on the first floor of the Town Office. The committee currently has openings for new members. Contact the Stonington Town Office at 367- 2351.
Evelyn Duncan, Selectmen's Representative
The Town of Stonington has established a micro-enterprise loan program. This program will provide financial assistance to qualifying micro- businesses (companies that employ 5 or fewer employees, one of whom is the business owner).
A micro-loan may be used for a variety of projects, including the purchasing of materials, product packaging, upgrading equipment, improved facilities, and other projects that will help expand or upgrade a business.
Once the town receives your micro-loan application the form will be reviewed by the Stonington Micro-Loan Committee, who will review the application and inform you of their decision with in 30 days. For more information contact the Stonington Town Office at 367-2351.
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