#33 Maine
#41 in Taxation and Regulation
#32 in Workforce Quality
#43 in Living Environment
Right to Work? ✗
Regional Profile – Northeast
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Key Industries
Agriculture; Biotech; Composites & Advanced Materials; Environmental Tech; Forestry; I.T.; Marine Tech; Precision Manufacturing
Key Companies
Bath Ironworks
Camden National
Circle K
L.L. Bean
Lowe’s
Pratt & Whitney
Rite Aid
Advantages
Boothbay’s Botanical Gardens are driving increased tourism in the state. Last year, more than 150,000 people visited, compared with 40,000 when the Gardens opened. Continued expansion is planned, with room for another 400 to 500 cars.
Sales of single-family homes jumped 14.63% in March from March 2015, and value of homes in the state has risen by 7.35% to a median sales price of $182,500.
Challenges
Maine is still challenged by the loss of its paper mill business in eight communities.
Maine’s crumbling transportation infrastructure, anemic investment in research and development, and academic performance continue to hinder the state’s economic growth prospects, according to a new report.
Key Contacts
Dept. of Economic and Community Development
Denise Garland, Deputy Commissioner
207- 624-9800
59 State House Station
Augusta, ME 04333-0059
Denise.Garland@maine.gov
http://www.maine.gov/decd/index.shtml
CEO Comments
“Maine is a close second to … Vermont, [which we find] to be very flexible with companies in our field of business. They are better than the other New England states.”
Current Developments
Regional Report: Northeast 2016
March 18, 2016
Foundation Describes Why Maine’s Economy is Shrinking
April 18, 2016
States Leading the Crowdfunding Surge
May 8, 2014