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Where regional malls were once the domain of fashion brands and national chains, they're now adapting to shifting retail trends and consumer demographics by reaching out to non-traditional retailers. The Bangor Mall, owned by Indianapolis-based Simon Property Group, reflects that trend.
Ben Polito grew up on a farm in the midcoast village of Five Islands with no electricity, and was raised using oil lamps, pumping water by hand and using generators for power tools.
Maine could stand to earn a maximum of $22.5 million and a minimum of $13.7 million a year through 2030, depending on how much and how fast the state plans to cut pollution in coming years, a recent National Resources Defense Council analysis shows.
New hiresBangor Savings Bank hired Coney Quinn as assistant vice president and branch manager in Old Town, Ashley Muncey as a mortgage development officer based in Portland and serving ce
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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