General University of Maine Publications

Document Type

Report

Publication Date

12-31-2007

Abstract/ Summary

The year 2007 marked the tenth anniversary of the Maine Economic Improvement Fund (MEIF). Established in 1997 by the Maine Legislature, MEIF is Maine’s R&D investment fund. Funded through an annual state appropriation, it provides the necessary capital to leverage federal and private-sector research grants and contracts, which in turn create and sustain job growth and economic development. MEIF is widely recognized as one of Maine’s most successful public investment initiatives. According to the State Science and Technology Institute, a national nonprofit organization that assists and monitors technology-based economic development efforts, Maine experienced the nation’s largest percentage growth in academic-based federal R&D funding over the past 15 years: 547%. The increase, from about $9 million to approximately $58 million, is almost totally attributable to the availability of MEIF funds and helped turn ideas and innovation into federal grants.

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