$2.6M project could bring 60 jobs to Brunswick

Posted May 11, 2014, at 6:57 a.m.

BRUNSWICK, Maine — A child health and behavioral services company is planning a 9,000-square-foot expansion at Brunswick Landing.

The $2.6 million project is financed by U.S. Bank and aided with tax credits from the Finance Authority of Maine.

The project was announced Friday by the Minneapolis-based bank.

Providence Services Corp. intends to move into a former bowling alley that will be renovated into offices, conference rooms and an indoor playground.

The building at 62 Pegasus St. is owned by Topsham-based developer Priority Real Estate Group, which leases it to Providence.

The new space may allow Providence to relocate 60 employees, bringing its total workforce at the former Navy base to 150.

The social services company based in Tuscon, Arizona, has more than 8,000 employees and provides services in 44 states.

Providence’s Merrymeeting Center is at Brunswick landing and specializes in providing services and care to children with autism and related developmental disabilities. According to U.S. Bank, the company serves 1,500 individual clients in 15 Maine counties, making it the largest service provider in the state.

The expansion also includes plans to add a conference room to the Midcoast Veteran’s Resource Center, a nonprofit at Brunswick Landing that helps military veterans obtain benefits, services and resources to support reintegration into the community.

Priority Real Estate partially renovated 62 Pegasus St. and a former Navy Lodge at 12 Burbank St. last summer, creating classrooms, recreational areas and office space for the child services company.

The new project is aimed at opening even more space by converting the bowling alley housed in the former recreational center.

U.S. Bancorp Community Development Corp., a U.S. Bank subsidiary, is providing financing for the project through FAME’s New Markets Capital Investment Program.

The program provides refundable state tax credits to qualified entities that reinvest in certain businesses in low-income parts of the state. U.S. Bancorp has secured a $41.6 million tax allocation from FAME, according to the agency’s website.

The program allows qualified companies to claim credits against state taxes for up to 39 percent of the project’s total cost, to a maximum of $20 million in tax credits per year.

The tax credit program was established by the Legislature in 2011 to draw investors and stimulate economic development in Maine.

Two years ago, Coastal Enterprises provided $20.7 million in tax credits through the same program to aircraft manufacturer Kestrel Aviation, which planned to place a major facility at Brunswick Landing.

Ultimately, Kestrel’s owners located its headquarters in Wisconsin, where it was promised $30 million in tax credits, but committed to operate a smaller facility at Brunswick Landing.

 

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