CEI Notes at Work

_MG_4920Hodgdon Shipbuilding, East Boothbay

Since 1816, Hodgdon Shipbuilding LLC has been building boats in East Boothbay. With an international reputation for high quality custom yachts and yacht interiors, Hodgdon recently saw an opportunity in the production of tenders for superyachts. In 2012 CEI, CEI Notes and others came together with the necessary financing to build a demo tender. Orders followed and now Hodgdon is expanding to meet market demand: 10 new jobs to its existing workforce of 115.

Becket Academy, Belgrade

Financing in 2011 and again in 2013 supported the construction and rehabilitation of vocational training/educational facilities for this dynamic and growing organization. Becket Academy combines experiential learning and therapeutic services through residential and day programs for at-risk youth. The two projects will serve up to 70 kids and create/retain 38 jobs.

Spear Farm, Nobleboro

Financing from CEI Notes helped this fifth generation family farm convert from a dairy operation to diversified production, primarily mixed vegetables. The project retains 4 year-round jobs plus 20 seasonal jobs. Sustainably managed, the farm’s goal is to make wholesome affordable food available through a variety of channels, i.e., a CSA, farm stands, farm to institution sales and grocery stores. A GAP-certified vegetable processing facility opens up opportunities with school and other government markets.

Deer Ridge Farm, Wiscasset

Innovation and senior housing go together at Deer Ridge Apartments in Wiscasset where the goal is net-zero energy status. Financing from CEI and CEI Notes, tax incentives, new technology, and a special financial arrangement with The Power Company of Washington, Maine covered the installation of solar panels while a grant from Efficiency Maine supported the installation of highly efficient mini-split heat pumps that provide heating and cooling in each unit at significant savings. The project reduces operating expenses while ensuring safe, affordable housing for seniors into the future. Deer Ridge is a bright spot for the environment and the community, providing its 30 residents with high efficiency living and modern amenities.

Mayo Mill, Dover-foxcroft

Built in 1844 on the banks of the Piscataquis River in the heart of Dover-Foxcroft, Maine, the Mayo Mill was occupied by companies that provided employment to a significant number of local residents over a period of 163 years. Manufacturing at the mill produced wool and wood products until it was finally decommissioned in 2007, a major blow to Maine’s least populous county with unemployment rates of approximately 11.5 percent. Thanks to an array of economic development partners including CEI and CEI Investment Notes, Inc., the Mayo Mill has a new, more diverse life.