Business and Economy

Business news

Saddleback Buyer Gets Final Piece Of Financing Package

Jan 27, 2020
Susan Sharon / Maine Public

PORTLAND, Maine — The Finance Authority of Maine’s board has approved loan guarantees and a loan necessary for a Boston investment group to complete the purchase of Saddleback Mountain.

The board on Monday approved $2.5 million in loan insurance on a $12.5 million loan along with a $1 million direct loan. Arctaris Impact Fund also raised private funds and received a separate $1 million loan through the Maine Rural Development Authority.

The loans will help Arctaris Impact Fund purchase the ski resort and new equipment, including chairlifts, housing and base lodge.

A public university in Maine plans to expand its nursing school to deal with a shortage of nurses in the state.

Hampden Waste Plant Looks To Hire More Workers As It Ramps Up Operations

Jan 26, 2020
Fiberght via BDN

The new waste plant in Hampden is looking to hire another crop of workers so the facility can accept more deliveries of trash and ramp up its production of raw materials that it can sell to out-of-state paper manufacturers.

Robert F. Bukaty / AP File

Maine's Congressional delegation is asking the Trump administration for proof that its recent trade deal with China will actually make a difference for Maine's lobstermen.

Maine's unemployment rate rose slightly in December, but continued a long stretch at very low levels.

AUGUSTA, Maine - Maine officials want to close a lobster bait fishery to newcomers while they develop new management, licensing and an enforcement plan.

The Portland Press Herald reports Maine Department of Marine Resources Commissioner Pat Keliher will present a plan to freeze the fishery at its current size for two years to state lawmakers on the Marine Resources Committee in February.

FTC

New data from the Federal Trade Commission show that Maine residents filed 7,862 consumer complaints last year.

Maine Home Sales Break Records In 2019

Jan 22, 2020
John Clarke Russ / BDN File

Last year was a record breaker for existing single-family home sales in Maine, according to data released Wednesday by Maine Listings.

Susan Sharon / Maine Public/file

LEWISTON, Maine - A paper mill company announced it has the necessary regulatory approvals to move forward with plans to sell its Maine mill as part of a $400 million deal.

Fred Bever / Maine Public

The Legislature is considering a move to invalidate state land leases for Central Maine Power’s controversial plan to construct a power line through the state’s western woods.

Troy R. Bennett / Bangor Daily News file photo

Maine’s Public Utilities Commission said Tuesday it will proceed with its investigation into Central Maine Power’s winter disconnection policies.

Commissioners R. Bruce Williamson and Randall Davis and Chairman Bartlett unanimously supported the investigation.

They said the commission had warned CMP twice last winter to stop using language in its notices saying that if a customer failed to respond they could be disconnected during the winter period without approval from the commission.

WEX plans to build a new operations center at The Downs in Scarborough.

A merger between Mayo Regional Hospital and Northern Light Health has cleared a major step in the process after being granted approval by the state of Maine.

via Faith Deane

Maine's Public Utilities Commission (PUC) is opening an investigation into Central Maine Power’s (CMP) winter disconnection policies.

Robert F. Bukaty / AP File

According to federal data released earlier this month, the number of people experiencing homelessness in Maine dropped by more than 15 percent from 2018 to last year. But housing advocates say those numbers are misleading — and that decline actually reflects the fact that fewer people received some state services.

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