[Congressional Record Volume 164, Number 63 (Wednesday, April 18, 2018)]
[Extensions of Remarks]
[Page E499]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           RECOGNIZING CEI ON 40 YEARS OF INVESTING IN MAINE

                                 ______
                                 

                          HON. CHELLIE PINGREE

                                of maine

                    in the house of representatives

                       Wednesday, April 18, 2018

  Ms. PINGREE. Mr. Speaker, I rise today to recognize and thank an 
organization in my District that is celebrating 40 years of supporting 
rural communities, economies, and families in Maine and across the 
nation.
  In the 1970s, social activist and theology student Ron Phillips came 
to Maine to replicate a community-based economic development model he 
had seen succeed in places around the world. So began Coastal 
Enterprises Inc.--or CEI as it has become known--which made its first 
loan in 1978 to rebuild a waterfront facility that had burned down and 
was central to the local fishing community.
  Since its humble beginnings, CEI has loaned over $1.3 billion, which 
in turn has leveraged an additional $2.8 billion in investment. At this 
point, it is hard to find an area of Maine's rural economy and 
community infrastructure that CEI has not touched. Adapting to the 
greatest needs and opportunities of our state over the last four 
decades, it has helped build more than 2,000 affordable housing units, 
invested in over 2,700 businesses, supported over 37,000 jobs, and 
created or preserved more than 5,800 child-care openings.
  But CEI is not only a source of financing for worthy projects. It is 
trusted partner and leader in moving Maine forward, whether that means 
helping recent immigrants launch their own businesses, supporting women 
entrepreneurs, strengthening our state's agricultural and fisheries 
industries, or providing counseling to help Mainers stay in their 
homes.
  Despite its growth, the organization has stayed true to the 
communities it serves and to its founding values. CEI's staff is just 
as comfortable conversing with CEOs and corporate financiers as they 
are with fishermen on the dock and farmers in the field.
  I have been proud to work closely with this organization both in 
Washington and in Maine. I wholeheartedly thank CEI for its work, 
celebrate its impact on our communities over the last 40 years, and 
wish it many more years of success.

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