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Seven Islands Land Co., a Maine-based forestland resource and management company, announced Thursday it has hired Daniel J. LaMontagne to succeed John W. McNulty as the firm’s president and CEO.
The Maine Department of Labor and the U.S. Bureau of Labor Statistics released April workforce estimates for Maine that show the seasonally adjusted unemployment rate estimate for April of 3.3% is little changed from March (3.4%) and last April (3.3%). The number of unemployed, 23,100, is also little changed.
The Maine Department of Transportation, the Maine Turnpike Authority, and the New Hampshire Department of Transportation unveiled Wednesday an initiative to revitalize the heavily trafficked Interstate 95 “gateway” to Maine between Kittery and York.
The second annual Indian Market, a program of the Abbe Museum in Bar Harbor, is expected to nearly double its economic impact in the local community. Approximately 75 Native American artists and performers from over 40 nations from across the U.S. and Canada will attend the 2nd Abbe Museum Indian Market, scheduled this weekend from May 17 to May 19, in downtown Bar Harbor.
Bowdoin College announced a $450,000 gift to the Brunswick School Department to fund construction of a “discovery classroom” at the future Kate Furbish Elementary School.
The southern Aroostook County town of Island Falls, with a year-round population of less than 900, may not look much like Millinocket, 40 miles to the southwest, but the two towns have a lot in common.
A bill that would create a consumer-owned power company to “restore local ownership and control of Maine’s power delivery systems” received strong support from disgruntled ratepayers at Tuesday’s public hearing but was challenged by Central Maine Power as a constitutionally questionable proposal
Sen. Nathan Libby, D-Lewiston, is sponsoring a bill, LD 149, that would ask voters to approve a $250 million bond issue to ease student debt. Under Libby’s proposal, if voters approved, the $250 million bond would fund a program administered by the Finance Authority of Maine to help pay off student loan debt for individuals who agree to live and work in Maine for five years. It also would reimburse employers that make student loan debt payments on behalf of their employees who agree to live and work in Maine for five years.
Andrea Cianchette Maker, a partner at Pierce Atwood, testified in support of the bill on behalf of Acadia Insurance and IDEXX Laboratories. Citing figures from the Project on Student Debt, Maker noted the average student loan indebtedness for Mainers is $31,364, which is 10th highest in the nation. In total, she said, Mainers owe more than $6 billion in student debt.
“If enacted, LD 149 could be a game-changer for our state,” Maker wrote. “It will significantly help Maine attract and retain a desperately needed future workforce by helping our workers get out from under college debt in an expedited manner. After that debt is paid, they will be fully engaged in Maine's economy and in a much better position to invest in their futures here in Maine, from buying a first home to raising a family.”
At its May 9 public hearing, the bill received support from Behavioral Health Community Collaborative, Maine Association of Realtors, Maine State Employees Association, AARP Maine, Finance Authority of Maine, Maine Tourism Association, Lewiston Auburn Metropolitan Chamber of Commerce and a number of individuals who shared personal stories about how their student debt adversely affects their lives.
Of the 27 people testifying at the hearing, only a few opposed Libby’s bill outright — essentially saying the state’s resources are not unlimited and the bond would divert funding from other essential needs.
The fiscal statement attached to the bill indicates a 10-year $250 million bond would require another $65.3 million to pay off at a 4.75% interest rate, for a total cost of $315.3 million.
The port of Bar Harbor expects 177 ships carrying 275,198 passengers this season. The ship number is down from 180 scheduled visits last year, but the passenger count is up from 230,000. The town’s capacity to accommodate increased numbers of passengers was raised anew at the Bar Harbor Town Council’s May 7 meeting.
GO Lab, an innovative, building products manufacturer based in Belfast, has received a $250,000 award from the U.S. Forest Service’s Wood Innovations Grant program. The grant will assist GO Lab in its mission to disrupt and transform the construction insulation market over the next 10 years.
Maine Department of Economic and Community Development Commissioner Heather Johnson announced Monday that Charlotte Mace is the department’s new Director of Business Development and Innovation.
Entosense, an edible insect company in Lewiston, began farming its own crickets over the past winter, with the goal of eventually replacing its outsourced cricket products with locally raised products.
More focus on the northern towns of the Katahdin region, more places to eat and better infrastructure are some of the thing Mike Elliot hopes will happen soon.
Machias Savings Bank broke ground Monday on a new $5 million facility in Machias that will serve as an expansion of its home office.
Four former UBS bankers led by Steven Tenney have launched an independent wealth management firm in Portland called Great Diamond Partners.
Maine Community College System President David Daigler announced today that Barbara Finkelstein, president of York County Community College, will retire on June 30.
Ten companies will compete for two $25,000 cash prizes in the 2019 Top Gun Showcase that will be held May 23 at the University of Southern Maine’s Hannaford Hall.
The production facility of gelato-maker Gelato Fiasco has been listed for sale by The Boulos Co. The food-grade production facility, which Gelato Fiasco dubbed the “flavor foundry,” is listed for $1.35 million.
The U.S. Department of Transportation has awarded $13.8 million to airports in Biddeford, Eastport and Jackman in grant funding from the Federal Aviation Administration’s Airport Improvement Program.
An initiative that will not only promote Lewiston-Auburn to tourists and businesses, but eventually link to a four-city New England "trail" of Franco-American heritage, is set to launch.
The 256-unit market-rate Clark’s Pond apartment project in South Portland, which was approved by the city’s Planning Board last June, has picked up additional investment funding that will enable developer Vincent Maietta to complete the construction in 24 months instead of in phases as originally planned.
Broker Mark Malone, of Malone Commercial Brokers, wasn't getting a lot of interest in the nine empty units at the Airport Mall on Union Street in Bangor.
The Maine Department of Transportation announced Thursday it will not schedule 11 projects scheduled to go to bid this year, due to surging construction costs that exceed the available funding.