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Harold Alfond Foundation announces $500 million investment in Maine’s future

The funding will be divided up between eight institutions and programs
Eight Maine institutions and programs are getting a share of a $500 million dollar gift from...
Eight Maine institutions and programs are getting a share of a $500 million dollar gift from the Harold Alfond Foundation(WABI)
Published: Oct. 6, 2020 at 12:18 PM EDT
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PORTLAND, Maine (WABI) - The Harold Alfond Foundation is announcing a $500 million investment into Maine’s future. The goal of the gift is to grow the state’s economy, bolster educational offerings, and support health care.

The foundation honed in on eight grant recipients who will receive between $5 million and $240 million each. Those recipients are: the University of Maine System, The Roux Institute at Northeastern University, the University of New England, Thomas College, FocusMaine, Colby College, Waterville Creates!, and The Jackson Laboratory.

Each recipient will reveal more detailed plans in the coming days. Those announcements will include individual funding amounts and how the money will be used.

“Our state faces unprecedented challenges. In the face of these challenges, we still see a bright, prosperous future for the people of Maine" Chairman of the Alfond Foundation Greg Powell said in a statement. "Today’s grants are to vital, high-performing Maine institutions who will help build that future.”

“I am grateful to the Harold Alfond Foundation for their partnership in making our long term goal of welcoming all innovators home to Maine a reality," Governor Janet Mills said. "By bringing together higher education institutions, research institutions, community organizations and business leaders, this initiative will fuel new opportunities for Maine people and diversify and expand our economy at a critical moment in our state’s history.”

The Harold Alfond Foundation says much of its half-billion gift is going towards higher education.

“Our goal is to make long-lasting, positive change, not only by direct investment in institutions leading the way, but also by attracting continued and sustained support from government and business leaders in the state, the northeast corridor and across the country,” Powell said. “That is absolutely critical to help Mainers continue to cope with the effects of the pandemic today and build their economy and communities for the future.”

The first round of follow-up announcements is set for Wednesday, October 7th and features FocusMaine and the University of Maine System. Jackson Labs and The Roux Institute will share their plans on Thursday. UNE, Thomas College and Colby College are scheduled to make their announcements the week of October 12th.

We are delighted to be the recipient of a recent grant from the Harold Alfond Foundation, which will help us expand our...

Posted by University of Maine System on Tuesday, October 6, 2020

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