ORONO, Maine — U.S. Department of Agriculture Secretary Tom Vilsack visited the University of Maine, where he announced a $190 million grant during an Investing in America town hall event Thursday.
The funding is dedicated to incentivizing and lowering costs for private forested landowners who keep their woodlands and adopt climate resiliency practices.
Vilsack explained that the grant, which is part of the Inflation Reduction Act, will help enrich rural communities.
“I am excited for the opportunity it provides small and midsized operations,” he said. “I think rural communities need a healthy economy across the board, regardless of the size of the operation, and I think we are providing that opportunity.”
Of the total funds, $140 million is allocated for state endorsed cost-share programs. These collaborative programs are designed to lower the cost for forest landowners adopting climate resiliency measures.
The remaining $50 million has been designated for programs that directly pay landowners who are preserving and developing their forests to sequester more carbon.
In a state like Maine, where 90 percent of forests are privately owned, Vilsack said there will be local opportunities to benefit from the grant funding.
“It’s additional income, its additional jobs, and it's better for the environment,” he said. “And it plays well to the strengths of a state like Maine.”
Before opening the session for questions, Vilsack was sure to emphasize the funding was secure and would not be impacted regardless of who wins the White House in November.
The U.S. Forest Service is also offering $145 million for connecting private forest owners and new climate markets.
Information on eligibility and fund availability can be found at Forest Landowner Support webpage.