CDC Accomplishments in Maine

Pam Cunningham, a Penobscot Tribal member and master basket maker, displays her handmade work.	The Wabanaki Cultural Tourism Task Force meeting at Pleasant Point Passamaquoddy Tribal office building.

Four Directions Development Corporation (FDDC), headquartered in Orono, Maine, is one of the nation’s most successful Native American Community Development Financial Institutions (CDFIs).  It serves an area the size of Connecticut and Rhode Island, supporting the development of vibrant, economically healthy Native communities.  FDDC has been addressing the challenge of creating a meaningful presence on all reservations by making a deliberate effort to organize and nurture more robust community networks.  To this end, the CDC has created local Economic Development Advisory Teams (EDATs) in three of the five tribal communities it serves – Micmac, Maliseet, Passamaquoddy at Pleasant Point.  Among other things, the CDC has used the teams to organize focus groups, identify businesses for the Inventory and market FDDC services and programs.

Over the past two years, FDDC has been building its business program under the umbrella of the Wabanaki Entrepreneurship Initiative (WEI).  FDDC is concentrating its efforts on developing new business assistance products and services that meet the needs of existing and aspiring Native entrepreneurs for in-depth technical assistance and market development services.  Several business-related efforts are underway and will be completed this fall. They are:

1. Wabanaki Business Inventory - A database of Maine Native-owned businesses of all sizes, from microenterprises to larger, job generating tribal ventures
2. Wabanaki Virtual Mall – Developing a web-based catalogue for businesses, artisans, and crafters.
3. Wabanaki Trail – Visitors who have an interest in Native culture and history will learn about Maine, its landscape, its rivers and Wabanaki communities through this virtual “trail.”

At Coastal Enterprises, Inc. (CEI), Wiscasset, Maine, Rural LISC loan funds helped capitalize the Northern Heritage Development Fund (NHDF), for  microenterprises, small and medium enterprises and affordable housing, as well as partial capitalization of CEI’s NMTC SME pool with Bangor Savings Bank.  The NHDF is an economic development and affordable housing loan fund created to organize and increase CEI’s presence in Maine’s rim counties, the poorest and most rural in the state.  The NHDF provides flexible capital in response to market needs that ensure benefit to low income people and communities.  Originally capitalized with $1.5 million of fee income generated by CEI Capital Management LLC, the NHDF currently has a pool of $10.5 million.

Downtown village of Greenville, showing the mix of industries, from traditional forest-based businesses to the tourism sector.	Interior of a Moosehead Cedar Log Home building.