News
Report touts tech funding job impact
Companies funded by the Maine Technology Institute added roughly 600 jobs over the last two years, an 11 percent growth rate that outpaced the overall state rate of about 3 percent, according to a report released Monday.
The employment statistic is among the findings by University of Southern Maine’s Center for Business and Economic Research, which evaluated MTI, a state-funded nonprofit.
Overall, the report found that state investments in entrepreneurial companies have begun to show a broad economic return for Maine. The $8.1 million in MTI seed and development grants over the past three years stimulated job growth and helped attract almost $210 million in federal government and private funding. That means that every MTI dollar leveraged $26 in external funding, the report concluded.
By MATT WICKENHEISER
Blethen Maine Newspapers
Copyright © 2005 Blethen Maine Newspapers Inc.
Full Story: http://business.mainetoday.com/news/050111_1283687.shtml
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