#33 Maine


#41 in Taxation and Regulation

#32 in Workforce Quality

#43 in Living Environment

Right to Work?

Regional Profile – Northeast

STATE
OVERALL REGIONAL RANK
TAXATION & REGULATION REGIONAL RANK
WORKFORCE QUALITY REGIONAL RANK
LIVING ENVIRONMENT REGIONAL RANK
Connecticut
9
10
6
5
Delaware
11
11
3
2
Maine
3
5
5
9
Maryland
7
8
11
8
Massachusetts
8
9
1
6
New Hampshire
2
2
2
1
New Jersey
10
6
9
11
New York
11
11
8
10
Pennsylvania
4
3
4
4
Rhode Island
6
7
7
7
Vermont
5
4
10
3

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.”

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No 36: Maine

No. 36

Maine

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
Taxation and Regulations
  • State Corporate Income Tax Rate: 8,93%
  • Highest Personal Income Tax Rate: 6.85%
Workforce Quality
  • % with High School diploma or more: 89.7
  • % with Bachelor’s degree or more: 25.4
  • % with Advanced degree or more: 8.9
  • Patents per 100K: 16
  • % of Employed Represented by Unions: 13
Quality of Life
  • Hopsitals per 10K: 0.28
  • Elementary/Secondary Schools per 1000 people: 0.525
  • Violent Crimes per 100K: 115.78
Key Companies
  • INDEXX Laboratories
  • Wright Express
  • Camden National
Other Highlights
  • Maine rose to #36 from #37 in 2010 — the state took #33 in 2009
  • Maine ranks 15th in state debt per capita with $4092

Sources:
TaxFoundation.org
Statemaster.com
Bureau of Labor Statistics
U.S. Census Bureau
U.S. Patent and Trademark Office
The National Center for Public Policy and Higher Education