Sen. Bailey applauds research and development investments in Senate District 31
Funding made possible by a voter-approved bond supported by Sen. Bailey in 2024
AUGUSTA — Today, Sen. Donna Bailey, D-Saco, celebrated $5,064,000 of research and development awards and private sector matching funds to a business in Senate District 31, recently announced by the Maine Technology Institute (MTI). Investments in Tanbark Molded Fiber Products, Inc. will help grow the area’s economy, support local jobs and make Maine more competitive on the global stage.
“As a member of the Housing and Economic Development Committee, I know that investments in research and development are key to building the future of Maine’s economy,” said Sen. Bailey. “I proudly the supported the research and development bond, which eventually went to the voters for final approval and made this month’s award possible. Here in Saco, Tanbark continues to make its mark in the district and the state. It is an innovative company that creates sustainable products and strengthens economic ties between Saco and more rural areas. I am confident this investment will benefit the hardworking men and women in our community.”
The awards were made possible by the voter-approved, $25 million research and development bond measure placed on the ballot by the Maine Legislature in 2024 with support from Sen. Bailey. This year, 23 awards were made across nine counties, creating 1,233 jobs, supporting 2,718 current jobs and unlocking over $700 million in private sector matching funds.
MTI’s summary of awards in Senate District 31 follows.
Tanbark Molded Fiber Products, Inc., Saco, York County
Project Title: Low-value wood turned high-value product
Project Summary: Tanbark is building a modern, sustainable manufacturing industry rooted in Maine’s forest economy. By transforming low-value wood fiber into high-performance products, Tanbark provides a renewable alternative to plastics while creating good jobs and driving economic development in rural Maine. The company’s expansion will strengthen regional supply chains, open new markets for Maine timber and demonstrate how innovation in legacy industries can fuel long-term growth. Tanbark is positioning Maine as a national hub for advanced fiber manufacturing and sustainable product development.
Funding Approved: $2,000,000.00
Match: $3,064,000.00
###