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With Maine's housing shortage at a fevered pitch and affordability a top challenge, new federal grants will support development, financing and modernization of public housing projects.
Riverlight Restorative Health, which was founded in 2021, specializes in medical weight loss, IV infusions and men’s health.
In 1994, Maine was known for its fishing, farming and logging industries. However, times have changed and three new industries are on the rise.
Factory of the Future 1.0 can print objects as large as 96 feet long by 32 feet wide by 18 feet high, and is four times the size of its predecessor.
In a ranking of cities with fewer than 100,000 residents, Portland and Bangor topped all other urban areas across the northeastern U.S. South Portland was close behind.
Bangor Savings Bank has appointed four employees to the bank’s leadership committee and promoted two leaders within the organization.
The award recognized the company’s work on the city of Portland’s 2.5-year, $29 million construction of the Back Cove West Storage Conduit.
A roundup of construction news from around Maine includes Cianbro's efforts to move a major piece of equipment from Brewer, by sea, to the Portsmouth Naval Shipyard.
The U.S. Postal Service plans to consolidate some operations in Maine, including outbound mail processing that's currently handled at a Hampden facility.
Hollywood Casino now offers baccarat, and has trained all of its existing dealers on the game featured in several James Bond films, with plans for additional jobs.
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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