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Port authority brings Maine cold storage plan back into play

January 3, 2019

PORTLAND, Maine (AP) — A plan to create a cold-storage warehouse for the Port of Portland is back in play due to an investment from the Maine Port Authority.

International cold storage company Americold had planned to build such a warehouse near International Marine Terminal in Portland, but dropped the idea. The Portland Press Herald reports the port authority is looking to invest $16 million on the concept.

Members of the authority have agreed to allocate $8 million from the state’s transportation budget. The authority plans to get the rest of the money by using federal tax incentives to bring in funds from private investors.

The authority’s plan is for a private-sector partner that helps pay for and operate the warehouse. It would be on state-owned land at the port.

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Information from: Portland Press Herald, http://www.pressherald.com

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