WABI (Channel 5) cited the 2020 draft of the Maine Economic Improvement Fund Annual Report in highlighting a $92 million investment in the University of Maine. According to University of Maine President Joan Ferrini-Mundy, continued investment is critical to sustaining research in Maine. âOur world-class scholars and researchers, and the students working with them, are among Maineâs most important resources,â Ferrini-Mundy said. WABI also reported that UMaine is seeking R1 status to support the institutionâs research mission and to leverage investments to increase external funding. Ferrini-Mundy, who will continue her role as the president of UMaine and the University of Maine at Machias, was recently named Vice Chancellor for Research and Innovation for the University of Maine System. Mainebiz also reported on Ferrini-Mundyâs appointment and the R&D investments.