Business and Economy

Business news

Mainers' personal income jumped by 41 percent in the April-to-June quarter, according to the federal Bureau of Economic Analysis.  The two main reasons:  federal stimulus spending and state unemployment benefits.

Flickr Creative Commons

If price is your goal, this may be a good time to sell a home in Maine. The Maine Association of Realtors is reporting that home prices this August jumped 17% over August one year ago.

Home Sale Prices In Maine Jump 17 Percent In August As Low Supply Persists

Sep 23, 2020
Steve Helber / Associated Press

Real estate sales in Maine continued to increase in August, marked by a low supply and mortgage rates plus an uptick in out-of-state buyers, according to data released Tuesday by the Maine Association of Realtors.

The U.S. Department of Agriculture has declared Aroostook County a Drought Disaster Area. That makes farm operators in Aroostook and its 4 contiguous counties eligible for low-interest emergency loans and other programs.

Shellfish and seaweed growers in Maine are in line for a new round of federal coronavirus relief funds. Secretary of Agriculture Sonny Perdue says the USDA is expanding the list of producers who can qualify for its Coronavirus Food Assistance Program to include aquaculture businesses nationwide.

Mail Delays Sharply Rose In Maine As Postal Service Pursued Savings, New Data Show

Sep 20, 2020
Robert F. Bukaty / AP Images

The share of one popular class of mail arriving at least a day late in Maine doubled for a time this summer as the U.S. Postal Service pursued cost-savings measures, though delays look to have subsided nationally after the agency halted heavily criticized changes.

Robert F. Bukaty / AP Images

Opponents of a 145-mile proposed transmission line through Western Maine are launching a second effort to let voters have a say on the project.

The unemployment rate in Maine dipped below 7% in August, but labor officials warned the jobs picture in the state has been erratic since the start of the pandemic.

The Maine Department of Labor reported on Friday that unemployment rate fell from 9.9% in July to 6.9% in August. The department says in a statement the decrease in unemployment "was partly from an increase in employment, but mostly from a decease in labor force participation."

Josh Keefe / Bangor Daily News

Last week, Senate President Troy Jackson, D-Allagash, filed a complaint with the U.S. Department of Labor alleging the agency has failed to enforce immigration law and protect U.S. loggers from illegal Canadian competition along the northern border.

A program designed to help school-age children access food during school closures caused by the pandemic is set to expire at the end of September if Congress does not take action to extend it.

KITTERY, Maine - The attack submarine USS Texas arrived has arrived at Portsmouth Naval Shipyard for maintenance work and system upgrades.

CMP Corridor Opponents Launch 2nd Referendum Bid Aimed At Killing The Project

Sep 16, 2020
Natalie Williams / BDN

Opponents of Central Maine Power’s proposed corridor launched a second referendum bid on Wednesday intended to pressure lawmakers to overturn the $1 billion project, but it could face issues similar to an initial bid struck from the 2020 ballot.

The Trump administration has lifted a 10% tariff on aluminum imported from Canada.

Bill Trotter / Bangor Daily News

Bar Harbor tourism business owners say they have been getting more customers the past two months despite the global COVID-19 pandemic, but their revenues still are way behind what they were in early September a year ago.

Fred Bever / Maine Public

A federal award of some $50 million to Maine lobstermen to compensate for losses created by the U.S. trade war with China is upsetting live lobster dealers and processors who were left out of the equation. Even some lobstermen are questioning the formula — and some observers see one key motivation behind the decision: presidential politics.

Pages