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It’s that time of year again. Like we do every January, Mainebiz has asked five prominent Maine economists what they think the New Year will bring for the Pine Tree State.
What makes the Moosehead Lake region worth a visit? Why is it a great place in which to live, or even build business?A group of local business and government leaders is trying to answer those questions, and get the message out.
State government is back at work and lawmakers are already losing sleep drafting bills for the legislative session.
Questions about Maine's economy and where it's headed are asked throughout the year.
Three days after signing the papers to sell his iconic Tom's of Maine to Colgate-Palmolive Co. in 2006, Tom Chappell and his son Matt went to Wales to hike. But two weeks of daily treks for 12 hours caused a lot of discomfort, mostly in what he wore.
New hiresSummit Natural Gas of Maine hired Mike Tanchuk as president and executive vice president of Summit Utilities Inc. and Ryan Morris as an engineer.
Over the past several months, banks and other businesses have been looking for the Federal Reserve Board to cut interest rates, but the waiting game continues.
Basing its decision on new economic reports, the Fed on May 1 said it doesn’t plan to cut rates until it has “greater confidence” that inflation is slowing toward the central bank's 2% target. Three rate reductions have been projected for 2024, likely starting in June.
But for now, it appears the key borrowing rate in the U.S. will stay at a two-decade high of roughly 5.3%.
Keeping the rate so high for so long may tame inflation, but can also discourage new investment and business growth.
“The Fed is really stressing the banking industry,” said Andrew Silsby, president and CEO of Augusta-based Kennebec Savings Bank, in a Mainebiz story last month. “The economic environment is really quite difficult, but I haven’t quite figured out whether we’re through the storm or in the eye of the storm.”
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreThis special publication examines the innovation infrastructure in Maine and the resources available to help entrepreneurs at the various stages of their journey.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
This special publication examines the innovation infrastructure in Maine and the resources available to help entrepreneurs at the various stages of their journey.
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