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Updated: January 11, 2021 2021 Economic Forecast

Challenges and expectations for 2021

After a year of adaptation, business leaders are better prepared

After the challenges of 2020, when business adapted to pandemic protocols and “pivoted” to new business lines, many feel battle hardened and ready to deal with the challenges of 2021.

Looking at a dozen industries, the Mainebiz staff analyzes the challenges and expectations for what’s ahead this year.

Many manufacturers last year shifted their focus and have already adapted to offering COVID-related products like swabs, personal protective equipment and hand sanitizer.

A boatyard manager says he expects continued demand as people look for ways to get outside.

And real estate is expected to continue to drive much of the economic growth. Out-of-state buyers accounted for nearly half of the Portland area’s sales of owner-occupied multi-family homes.

As Tom Landry of Benchmark Real Estate tells one of our reporters, “These folks have come in with cash and are creating bidding wars the likes we’ve never seen.”

Agriculture

Banks / Credit Unions

Broadband

Health care

Higher Education

Hospitality

Manufacturing

Marine industries

Nonprofits

Real Estate

Retail

Transportation / Logistics

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