MMG reinvests in Partnership

    PRESQUE ISLE — MMG Insurance announced that it is recommitting its financial investment in Aroostook Partnership for Progress (APP), pledging $100,000 to the four-year-old private-public economic development initiative.
Contributed photo
PARTNERS IN PROGRESS — MMG Insurance recently recommitted its financial investment in Aroostook Partnership for Progress by pledging $100,000 to the private-public economic development initiative. Taking part in the MMG Insurance check-passing ceremony were, from left, Dave Peterson, chair of APP Board and Larry Shaw, president and CEO of MMG Insurance.
    "As one of the initial investors in APP, we are pleased with the economic development successes that have come forth from the public-private partnership," said Larry Shaw, MMG president and CEO. "We made the decision to continue our support of APP because of its successful track record and its ability to leverage the financial commitments and expertise of the private sector in partnership with the public sector resources to stimulate Aroostook County's economy."
    Dedicated to results-oriented economic development, APP has had considerable success since 2004, attracting approximately 1,000 new jobs and $140 million in new investment. APP actively recruits business to northern Maine while also responding to requests for information from individual firms, site location consultants, the state of Maine, and statewide economic development agencies.
    Dave Peterson, chair of the APP Board of Directors, acknowledged the investment stating: "it is significant that one of APP's initial investors made the decision to reinvest. Working in partnership with the other Board members, MMG has been instrumental in APP establishing a successful regional approach to economic development in northern Maine."
    The Aroostook Partnership for Progress is focused on results-based strategies that facilitate economic development throughout the County. APP works with its partners to market the region nationally and internationally in an attempt to attract new investment to northern Maine. The Partnership's priorities include economic development marketing, regional leadership, and business intelligence.
    MMG Insurance Company, headquartered in Presque Isle and founded in 1897, is a property/casualty insurer that carries an A.M. Best A- (Excellent) rating. Over its history, MMG has evolved to a multi-line, regional company with entry into Vermont in 1981, New Hampshire in 1984 and Pennsylvania in 2006. MMG employs 133 in Presque Isle and an additional 22 in various regional staff positions.