The Maine Technology Institute on Friday afternoon announced the final batch of grants, totaling $10.9 million, that were made available as part of the $50 million R&D bond Maine voters approved last summer.

The final seven grants went to Tilson Technology Management, J.S. McCarthy Printers, Hussey Seating, ON Semiconductor, DeepWater Buoyancy, Pleasant River Lumber Co., and Bristol Seafood.

This is the third and, for now, final batch of grants from the Maine Technology Asset Fund 2.0 program, which received $45 million from the bond proceeds (the other $5 million went to Maine Venture Fund). MTI commissioned an independent economic analysis that showed the projects funded with the $45 million will help generate more than 5,350 jobs and result in a collective $1.37 billion in economic output for the state.

During the period it accepted proposals for funding, MTI received 183 applications that in total sought nearly $400 million. The process of doling out the funds was not an easy process, as discussed in a post published on MTI’s blog.

“The funding decisions were incredibly difficult given the breadth of quality proposals that MTI received,” said Brian Whitney, MTI’s president. “It is our hope that, given the enormous economic impact that this funding will have in Maine and the many incredible projects that are still in the pipeline, future state funding may be made available to broaden the impact even further.”

Here is a summary of the seven new grants:

  • Bristol Seafood, in Portland, will receive $743,698.50, that, along with roughly $4 million in capital committed by the company, will support the company’s continued growth “through better product quality, innovative packaging capabilities, and new verticals.” The company said it expects to create more than 40 new jobs over the next five years as a result of the investment.
  • DeepWater Buoyancy Inc., in Biddeford, will receive $187,500 toward completion of a $500,000 project to upgrade facilities, add equipment, and introduce new processes to meet increased demand for its subsea buoyancy products, which are used in the oceanographic, oil-and-gas, and other marine-related industries. The upgrades should lead to “the addition of numerous technical, professional and production jobs,” according to MTI’s news release.
  • Hussey Seating, in North Berwick, will receive $2.8 million toward a $8.2 million project to modernize its equipment, facilities and processes “to ensure the company’s continued capability to compete successfully on the global stage while remaining a Maine-based manufacturer,” the news release said. Hussey Seating is a 6th generation family-owned business founded in 1835. It currently employs 280 people.
  • J.S. McCarthy Printers, in Augusta, will receive $1.5 million toward a $5.6 million investment in the company’s equipment, including the purchase of a Heidelberg printing press. The company collaborated with Heidelberg to develop innovative proprietary technology that will be 50% more productive than the company’s current equipment. The company currently employs 230 people and operates 24/7 as one of the largest sheetfed printing operations on the east coast.
  • ON Semiconductor will receive $1 million towards a $23.2 million project to upgrade the equipment and facilities at its semiconductor manufacturing facility in South Portland. The project should create more than 25 jobs, according to the news release.
  • Pleasant River Lumber Company, in Dover Foxcroft, will receive $4.2 million toward a $12 million project to expand and modernize its mill facility, including the addition of a new planer mill, continuous dry kiln, and a high-speed, small-log sawing line. The company currently employs more than 300 people.
  • Tilson Technology Management, a company in Portland that provides network deployment and IT projects throughout the country, will receive $602,737.50 toward a $1.6 million project to invest in “mission-critical assets” at its new Portland headquarters on the eastern waterfront.

A list of all the awards, given over three rounds and totaling $45 million, are included in the embedded PDF below.

While the $45 million in available funding has been awarded, MTI said there’s still a possibility that a future funding round could occur, though it depends on a number of factors, including whether or not all the funded projects are successfully executed, whether the $55 million commercialization bond currently under consideration by the Maine Legislature passes, and whether MTI’s board votes to allocate additional resources to the MTAF2.0 program. MTI said any decision about a future funding round won’t be made for several months.

MTAF2.0 Overview and Summary of All 18 Awards 041318