PORTLAND, Maine — The town of Houlton has joined at least two southern Maine towns in promoting a contest to attract new or expanding businesses, with a $25,000 forgivable loan and up to $10,000 in other services.
The town, the Southern Aroostook Development Corp. and Machias Savings Bank on Monday announced the contest that will start soliciting proposals from businesses Sept. 1.
Nancy Ketch, community development director for Houlton, said during a news conference Monday that the contest will seek to find a new or existing business with a novel idea for locating in town.
Ketch said that the town took an idea from other communities that have held similar business pitch contests as a way to help businesses start or expand.
Town Manager Butch Asselin said the contest “shows Houlton means business.”
“We believe this type of program sends a message that we want business here and we are willing to help make this happen,” Asselin said during the news conference Monday.
Ketch said the contest will include an initial pitch to a selection committee, along with a one- or two-page written version. Proposals from that group will be winnowed down and submitters would take a course on writing a business plan in preparation for a second phase.
The final award will be given after another in-person pitch of the business idea.
Houlton’s Entrepreneur Challenge follows on other similar efforts in Gardiner, Biddeford, Skowhegan and Grey and New Gloucester to attract businesses with a pitch contest for prize money and free services from area vendors.