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November 5, 2018

FAME to honor Front Street Shipyard, three others at Showcase Maine Awards

Photo / Ted Axelrod, axelrodphotography.com
Photo / Ted Axelrod, axelrodphotography.com
Front Street Shipyard will receive FAME's Business at Work for Maine Award during Showcase Maine, scheduled for Thursday, Nov. 15, from 4:30-8 p.m. at Holiday Inn by the Bay, 88 Spring St., Portland. Shown above is JB Turner, Front Street Shipyard's president and general manager.

The Finance Authority of Maine next week will honor a Belfast shipyard and marina, a nonprofit educational group and two Maine-based banks at the state agency's 35th annual meeting and celebration of its business partnerships.

Front Street Shipyard will receive FAME's Business at Work for Maine Award during Showcase Maine, scheduled for Thursday, Nov. 15, from 4:30-8 p.m. at Holiday Inn by the Bay, 88 Spring St., Portland.

In March, FAME assisted the yard with commercial loan insurance to help construct a 23,000-square foot assembly and storage building, according to a news release. Front Street employs over 100 people and serves vessels ranging from small recreational boats to commercial craft and super-yachts.

The FAME Education at Work for Maine Award will go to JMG, previously known as Jobs for Maine's Graduates.

The Augusta-based nonprofit provides mentoring and classes statewide for over 7,000 students, aimed at increasing high-school graduation rates and college success. JMG also promotes students' financial literacy by supporting teacher training and coordinating job-shadow programs and other activities with 500 local business partners.

Also at next week's event, FAME will present Lender at Work for Maine Awards to Camden National Bank and Androscoggin Bank.

Camden National, recipient of the award for lenders with assets over $1.5 billion, is being recognized for partnering with FAME on 57 loans totaling over $18 million. The financing helped create 79 Maine jobs and retain an additional 566 jobs, the news release said.

Androscoggin, recipient of the award for lenders with assets under $1.5 billion, partnered with the authority on eight loans to Maine-based companies, including Front Street. Together, the loans amounted to over $5 million and helped create 45 jobs and retain an additional 114 positions.

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