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SKOWHEGAN – Franklin Savings Bank has become the first corporate sponsor of the Skowhegan River Park, the Skowhegan River Park Committee recently announced.
Franklin Savings Bank Community Development Foundation recently committed $30,000 to the project.
“Investing in our communities is a focus for us,” said Tim Thompson, president of Franklin Savings Bank. “The river park has the potential for significant economic impact, and we’re proud to invest in this important regional project.”
Franklin Savings Bank’s corporate sponsorship is the second funding announcement in the last few months, following the March news of $2 million in secured federal funding to build shoreline seating, paved walkways and access trails, a riverfront promenade, and other infrastructure improvements to support the Skowhegan River Park. The town of Skowhegan is also awaiting a decision on a $4.89 Economic Development Administration grant application that will help fund construction of the in-river wave features. The committee continues to actively fundraise for the project, having raised more than $2.6 million in the last five years.
The Skowhegan River Park will redevelop an industrial downtown river corridor into an accessible outdoor recreation asset with an expanded trail network and enhanced whitewater. Once completed, the park will feature enhanced whitewater waves — including the Northeast’s only adjustable wave — for paddling, river surfing, standup paddle boarding, bodyboarding, and tubing, as well as an estimated 50 miles of multi-use trails accessible via downtown.
Skowhegan’s downtown Kennebec River gorge will become a go-to venue for whitewater paddling and surf competitions and events, drawing thousands of people to southern Somerset County annually. A 2016 economic impact study estimates $6 million in increased spending in just the first year of operation, with an anticipated increase of $19 million by year 10.
“Franklin Savings Bank’s donation to the project shows tremendous commitment to the region,” said Kristina Cannon, Main Street Skowhegan executive director and Skowhegan River Park Committee member leading project management and fundraising. “The river park is a community and economic development project at its finest that will not only benefit residents through improved river access and free recreation opportunities, but it will also bolster the regional economy by attracting visitors, businesses, and new residents. We can’t thank Franklin Savings Bank enough for supporting this important quality-of-life project.”
The town kicked off the river park environmental permitting process with submission of the Natural Resources Protection Act application to the U.S. Army Corps of Engineers on July 8. The River Park Committee will work with project architect McLaughlin Whitewater Design Group and engineer VHB on final river park construction design plans over the next several months, concurrent with the environmental permitting process, with river park construction anticipated in July 2023.
Franklin Savings Bank, with headquarters in Farmington, serves Maine’s western, central, and Downeast regions from eight locations.
For more information, visit SkowheganRiverPark.com.
PHOTO: A rendering of part of the planned Skowhegan River Park. (SkowheganRiverPark.com photo)
