A health care company will expand its presence at Brunswick Landing, the redevelopment project on the site of the former Brunswick Naval Air Station, thanks to a $2.6 million investment through the state’s New Markets Tax Credit program.
The financing from U.S. Bank, one of the country’s largest financial institutions, will allow for the renovation of a 9,000-square-foot facility that once served as the base’s bowling alley into the new home of Providence Services Corp., which provides child behavioral health and autism services, according to the bank. The renovation also will support the expansion of Midcoast Veterans Resource Center, a nonprofit that supports veterans. Priority Real Estate Group, a real estate investor and developer based in Topsham, is the developer and owner of the facility being renovated.
“We’re pleased to play a role in funding the next phase of Brunswick Landing,” said Laura Vowell, vice president for U.S. Bancorp Community Development Corp., the U.S. Bank subsidiary that provided the equity financing. “This redevelopment project combines essential social services with innovative commercial and industrial space, giving Brunswick an economic boost for years to come.”
Providence Services Corp. currently employs 60 people at Brunswick Landing. The expansion will allow its workforce to grow to 150, according to the bank.
The bank’s financing was made through the Maine New Markets Capital Investment Program, a program administered by the Finance Authority of Maine that is designed to support economic development in struggling areas.
Staff Writer Whit Richardson can be reached at 791-6463 or at: