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Economic Development

Chinese investors plan $40M specialty hotel in Auburn

Chinese financiers unveiled plans Friday to invest up to $40 million to convert an old Auburn factory building into a “state of-the-art health and wellness hotel,” the Sun Journal...

Developer eyes Rumford for $150M plant

Rumford may eventually be home to a new $150 million “processing plant” from a company with a “track record” of making large investments in Maine, but details are sparse so...

MTI, UMaine launching new startup program

The Maine Technology Institute and the University of Maine are launching a startup accelerator program in Bangor next month for up to three startups that have “high-growth potential.”

Maine Development Foundation names Bangor Savings Bank exec as CEO

The Maine Development Foundation has named a senior executive at Bangor Savings Bank as its next CEO, three months after the unexpected resignation of its last leader.

Ballot question seeks to cut corporate tax breaks

A question on November's statewide ballot seeks to increase funding for the Maine Clean Election Fund by cutting $6 million in corporate tax breaks.

Tilson awarded $270K for broadband project

Portland-based Tilson Technology Management has won a $270,335 contract to design, engineer and build a broadband network in a section of Ellsworth that includes the city's Commerce Park, an...

Monhegan Brewing releasing new beer to support Maine's island communities

Monhegan Brewing Co. and the Island Institute have partnered to release a new beer that is expected to benefit Maine's 15 year-round island communities through a portion of its sales.

Maine Community Foundation names former attorney general as CEO

The Maine Community Foundation has named Steven Rowe, a former Maine attorney general, as its next CEO and president.

Middle market firms enter foreign markets cautiously, strategically: study

Lori Valigra |

Of the 619 middle market firms in Maine, only 19 are involved in exporting, according to a new study.

High speed ahead: South Portland joins Rockport in upgrading its fiber optic network

James McCarthy |

Bob O'Brien, one of the owners of the Noyes Hall & Allen Insurance Co. in South Portland, readily admits an insurance company don't necessarily require the kind of bandwidth that the...