Machias Savings Bank Donates $25,000 Toward New Research Space
| Date: January 26, 2004 | 
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Bar Harbor, Maine - Machias Savings Bank has donated $25,000 to The Jackson Laboratory's research expansion.
In announcing the donation, Ed Hennessey, President of Machias Savings Bank, noted, "Machias Savings Bank is proud to support The Jackson Laboratory in its efforts to continue its excellent and important work."
James Donnelly, Regional Vice President of Machias Savings Bank, added, "Machias Savings is proud to support advances in medicine and research in diseases that affect millions. Not only does the circle of hope begin in Bar Harbor for cures to disease, but also for economic development in Downeast Maine. The Lab is the largest employer in Hancock County. It continues to grow and create hope for people in Hancock County and around the world."
The gift will help to fund a 53,200-square-foot research wing, including eight new laboratories, thus increasing laboratory space at the Bar Harbor institution by 34 percent. The Jackson Laboratory projects that the research expansion will add more than 100 new scientific, technical and administrative support jobs.
Jackson Laboratory Director Rick Woychik, Ph.D., noted, "Since 1985, Machias Savings Bank has contributed generously to The Jackson Laboratory. This most recent gift attests to the Bank's dedication to supporting research into the root causes of disease, and the economic viability of Downeast Maine. We are grateful for the partnership of Machias Savings Bank."
On August 16, The Jackson Laboratory began the public phase of its 5-year, $85 million capital campaign. When the campaign is complete, $60 million will support construction of new buildings, and the remaining $25 million will help increase endowment funding for long-term initiatives and continue to provide funding for new investigators and other ongoing programs. Joining Machias Savings Bank in support of this expansion are several Maine organizations and foundations, including the Davis Family Foundation; the Libra Foundation; Fleet National Bank, Trustee of the Lloyd G. Balfour Foundation; Peoples Heritage Bank and Morse, Payson and Noyes Insurance through the Banknorth Charitable Foundation; First National Bank of Bar Harbor; H.E. Sargent; and Bangor Hydro Electric Co.
Machias Savings Bank, founded in 1869, is a community bank with a staff of 150 employees, and offices in Washington, Hancock, Penobscot and Aroostook Counties.
Contact(s): Joyce Peterson, The Jackson Laboratory, 207-288 6058
Jade Harmer, The Jackson Laboratory, 207-288 6051
For information on automatic email delivery of news releases (journalists only), please send an email request for details to news@jax.org.
Media Relations, Communications Office
The Jackson Laboratory
600 Main Street
Bar Harbor, Maine 04609-1500
Phone: 207-288-6051
Fax: 207-288-6076
Email: news@jax.org
