Non-profit Research Institute in Financing of $6.7 Million Expansion

We represented the Downeast Institute for Applied Marine Research & Education, a non-profit in Beals, Maine, with the financing of its $6.7 million expansion, including a $5 million new markets tax credit financing. The expansion will add laboratory, office, housing, storage and conference space, as well as making improvements to the existing hatchery (used to grow soft shell clams and other commercially important bivalves to restock depleted resources).

The new facility will also include space for business incubation, allowing it to attract talent to the region for innovation in fisheries and for increasing understanding of the changing marine ecosystem.