State Sen. Chris Rector hosted Rockport officials Jan. 9 at the Statehouse. The group — including Town Manager Bob Peabody, Selectman Alexandra Fogel and Budget Committee member Larry Lehmann — attended the Maine Rural Partners press conference where the new MRP initiative Realizing Maine’s Worth was released.

MRP is already working with pilot communities in Strong, Rockport and the Unity region to create local endowment funds inspired by the conclusions of Realizing Maine’s Worth. Fogel and Lehmann are both on the board of directors of Legacy Rockport.

“I am especially proud to represent one of the first communities to embrace this concept,” said Rector in a news release. “All of our Knox County communities can benefit from Rockport’s example, and consider programs unique to their particular community that will capitalize on the transfer of wealth due to occur.”

According to Realizing Maine’s Worth, “Over the next 10 years, Mainers are likely to transfer $29 billion to the next generation. If all Mainers choose to invest 5 percent of their estates in community endowment funds, and if those funds’ investments generated 5 percent returns to benefit the community, then by 2020 these funds would supply an additional $74 million every year to achieve community economic development priorities.”