Maine Maritime Academy Signs Purchase and Sale Agreement for Center for Professional Mariner Development

Posted on: November 13, 2018

CASTINE, Maine—William J. Brennan, President of Maine Maritime Academy (MMA), has announced that a purchase and sale agreement has been signed with American Iron and Metal (AIM), owners of the former Verso paper mill in Bucksport, to acquire a six-acre parcel of land to locate the college’s new Center for Professional Mariner Development (CPMD). The agreement is expected to be finalized following a 60-day due-diligence period, after which a closing date will be determined.

The CPMD will provide state-of-the-art training for undergraduate students, professional mariners, and workforce development. For professional mariners the CPMD will meet the demand for highly specialized courses that enable mariners to receive certification and credentialing to meet maritime regulatory and industry-sector demands.

The Center will be a public-private venture. “Maine Maritime Academy’s new Center for Professional Mariner Development will be an auxiliary enterprise, the revenue from which will support the college’s mission and programs,” said President Brennan. “A phased approach will ensure that we can steward the finite resources MMA has to devote to the enterprise while simultaneously cultivating private funding.”

Maine Maritime Academy is a co-educational, public college on the coast of Maine offering programs of study in engineering, management, science, and transportation. The college serves approximately 950 undergraduate and graduate students in career-oriented degree programs. The job placement rate for MMA graduates exceeds 90 percent within 90 days of graduation. The college is consistently recognized for providing a high-value education by organizations such as the Brookings Institution, Washington Monthly, and U.S. News and World Report.