Community Economic Development Projects - 2021 - The Iris Network (Iris) will use $100,000 in CED funds to acquire and relocate DRAF Industries, Inc. to Portland, ME. DRAF Industries, Inc. (DRAF) is a military vehicle and equipment manufacturing company that receives orders from the Department of Defense, General Services Administration, and other government end users. Iris will acquire DRAF as a donation from its sole shareholder. DRAF will be relocated from Altadena, CA to Portland, ME to create manufacturing, packaging, logistics, and administrative job opportunities. CED funds will be used for startup costs, employee supports, and equipment. The project will leverage an additional $1,030,600 in applicant-supplied funds. This project will create 4 new jobs, 3 of which will be filled by individuals with low income.
