GOULDSBORO — Live Lobster Co. plans to begin processing lobster in the former Stinson Seafood plant by the end of the month, according to company President Antonio Bussone.
“Everything has been on schedule so far,” Bussone said July 5. “We may be one week late.”
Bussone said his company, which is operating in the village of Prospect Harbor under the name Lobster Web Co., has met the requirements for obtaining a $200,000 federal loan.
The loan made available through the state Department of Economic and Community Development (DECD) stipulated that 20 new jobs be created and that 51 percent go to persons of low and moderate income.
“We already met the requirements for the loan,” Bussone said in a phone interview. “The town is off the hook.”
Town officials were concerned Gouldsboro might have to repay the funds should the Chelsea, Mass.-based Live Lobster not be able to meet the loan stipulations.
Andrea Smith, development program manager for the state DECD, said in a letter to the town June 30 that she had received employee surveys for 20 new hires, 14 of which indicate they are low to moderate income.
“The business is showing its commitment to making this project work and it is my understanding, based on the e-mail sent by the company on June 23, they intend to follow this same process for the next $200,000 in grant funds,” Smith wrote.