EDIC Budget Includes PPP Loan, Additional Staff Hours

By Brad Cole, Falmouth Enterprise

The Economic Development and Industrial Corporation is projecting a budget deficit of $68,096 in 2021.

“That’s actually almost a 30 percent decrease from our deficit spending in 2020,” EDIC executive director Michael DiGiano said at the corporation’s meeting on Tuesday, February 9. “A lot of that is due to the PPP, which we were successful in getting.”

The corporation received $17,964 in Paycheck Protection Program funding. If used toward payroll, the money may be treated as a grant.

The EDIC will also receive income from phase two of the landfill solar development project. Corporation member Christopher R. Simmler said the projected income could increase further if a parcel of land is sold at the Falmouth Tech Park or if the Plymouth & Brockton Street Railway Company begins operations at the Falmouth Station.

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