Wall St. investment group helps grow Maine jobs | News

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Wall St. investment group helps grow Maine jobs
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BRUNSWICK, Maine (NEWS CENTER) -- Will small business and innovation pull Maine out of recession and grow new jobs? A big Wall Street investment company is betting on it.

The Blackstone Charitable Foundation, created by the Blackstone Group, has announced a $3 million grant to help grow new jobs in Maine. The Foundation calls it "Accelerate Growth," and is targeting the money at several existing programs that provide mentoring and other assistance to entrepreneurs and innovative small businesses.

The company's CEO, Stephen Schwarzman, told the audience at Brunswick Landing the growing Maine's innovative economy can create ten thousand new jobs in the next ten years-and that's the Foundation's goal for the project.

Karen Mills of Brunswick, the Director of the U.S. Small Business Administration, says it can be done. Mills says that with the proper coaching and other assistance the grant can provide, innovative businesses can succeed and grow rapidly, and change Maine's economy for decades. The grant from the Blackstone Foundation is one of three being provided to rural states to help encourage job growth.

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