Business and Economy

Business news

Irwin Gratz / Maine Public

Maine, like the nation, has now seen economic growth that's gone on unbroken for over a decade. That growth has been reflected in real estate development around the state. Will it continue? The question will be explored Thursday at an annual conference of the Maine Real Estate and Development Association, known as MEREDA.

Robert F. Bukaty / Associated Press/file

AUGUSTA, Maine - The state of Maine is allowing nine people to participate in the fishing industry that harvests baby eels, which are among the most valuable natural resources in the state.

Willis Ryder Arnold / Maine Public

The Manufacturers Association of Maine and the Maine Blue Collar Scholarship Foundation are doubling the amount of scholarships available to people who hope to enter the trades in Maine.

Steve Mistler / Maine Public

The Maine Department of Transportation released a three-year work plan that includes more than 2,000 projects worth nearly $2.6 billion. It also contains something else: a plea to state lawmakers to help the department fill a project backlog spurred by higher construction costs, workforce shortages and chronic underfunding.

Robert F. Bukaty / Associated Press/file

U.S. Senator Susan Collins is claiming a victory for lobstermen in President Trump's just-announced trade deal with China. But after taking a big hit during the height of the trade war, some in the industry are being cautious about the latest developments.

Democratic Assistant Senate Majority Leader Eloise Vitelli is urging support for a bill she’s sponsoring that would establish a state-run retirement savings program for Maine workers who don’t have access to one through their employer.

Hampden Waste Plant Plans Closer Inspections Of Trash After Propane Tank Explosion

Jan 14, 2020
Sam Schipani / Bangor Daily News

The new waste processing plant in Hampden still hasn’t reopened after a partially filled propane tank delivered to the center exploded on Thursday, causing a small fire in the machinery that produces bales of recycled goods and injuring a worker.

Hemp growers in Maine are concerned that new rules governing the crop could hold back the growth of an industry that is already the largest in New England.

Maine's economic growth accelerated in the third quarter of last year, according to statistics released Friday by the U.S. Bureau of Economic Analysis. The Bureau reported Maine's Gross Domestic Product (GDP) grew at a 2.1 percent rate. That was faster than the .6 percent growth rate of the 2nd quarter of 2019.

Democratic leaders in Maine have threatened to roll back a shipyard’s $45 million tax break because they say conditions outlined in a 2018 law weren’t met.

Joel Page / AP File

This story was originally published at 5:31 p.m. Jan. 9, 2020.

A review by staff at Maine's Public Utilities Commission has concluded that Central Maine Power's billing and metering systems have operated accurately, a counterpoint to complaints from numerous customers about botched bills, inflated bills and poor customer service.

Robert F. Bukaty / AP Images

LL Bean is set to expand its headquarters in Freeport.

Robert F. Bukaty / AP Images

The state with the largest fishing industry for lobster likely experienced a drop in catch last year, but the dip in harvest was probably not as dramatic as initially feared. 

Terry Chea / Associated Press

PORTLAND, Maine — On Tuesday, Ned Swain traveled from Portland to Washington, D.C., to deliver testimony that he hoped would save his small business.

The international credit card payment processing company EVO has notified the state that it plans to lay off 139 employees at its Portland offices in the Public Market Building. Landlord Steve Whittier says the company is committed to the lease until 2030.