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Jan. 9, 2023, Edition
In 2023, developer Waterstone Properties Group is going to finish what it started in 2022 by adding four new properties to Rock Row, which also now includes New England Cancer Center along with residential housing.
2023 Forecast: Renewable energy sees surge in incentives, but inflation and higher interest rates affect sales
Phil Coupe, the co-founder of ReVision Energy, said the state’s ambitious decarbonization plan and associated clean energy incentives, combined with the federal Inflation Reduction Act, should lead to continued industry growth in Maine in 2023 and beyond.
2023 Forecast: Castine’s new blood ready to take on tourism season
Matt Powell and George Trinovitch, owners of Castine's Pentagoet Inn, said the inn is undergoing the first round of renovation and redesign plans. Within the first day of the off-season, the couple already had electricians at the inn to replace light fixtures in the dining room.
2023 Forecast: Despite recent growth, Colby president concerned about inflation, labor shortages
Colby College has been instrumental behind much of the recent growth in downtown Waterville. But Colby’s president, David Greene, is nonetheless concerned by some of the external factors that may affect the private college of 2,200 students.
2023 Forecast: Don’t overlook PR and marketing efforts amid turbulent economy
Looking at marketing and PR Nancy Marshall, owner of Marshall Communications, says that going into 2023 she sees three trends in marketing and PR.
2023 Forecast: A growing business in Skowhegan faces higher costs head on
Skowhegan-based Maine Grains Inc. plans an expansion on an adjacent lot. The pandemic fueled a surge in home baking, which helped sales, but faces higher costs for transportation and packaging.
2023 Forecast: ‘Cloudy’ picture in store for Maine’s retail sector
Concerns cited by the head of the Retail Association of Maine include high energy costs and workforce shortages.
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2023 Forecast: Allagash Brewing sees ‘big opportunity’ in Scarborough
Maine's biggest brewer is building a new tasting room at the Downs mixed-use development in Scarborough and planning a bevy of new product releases this year.
2023 Forecast: ‘Higher than usual’ chance for economic slowdown
Amanda Rector, Maine's state economist, cities high energy prices and housing affordability as concerns.
2023 Forecast: Maine Law embarks on new chapters in Portland, Fort Kent
The University of Maine School of Law is setting up a new base in Portland and a Rural Practice Clinic in Fort Kent.
2023 Forecast: Avesta to add 167 affordable dwellings in coming months
"We are working diligently to provide more homes for people in need," says Rebecca Hatfield, president and CEO of Avesta Housing.
2023 Forecast: Machias Savings braces for ‘softening’ loan demand
Machias Savings Bank CEO Larry Barker predicts loan demand to soften this year following the rapid rise in interest rates.
2023 Forecast: Office market is strong overall, but uncertainty continues
The biggest variable in commercial real estate over the past year has been commercial office space. That’s likely to continue through 2023.
2023 Forecast: Tight housing market and price appreciation likely to continue
With rising interest rates and tight inventory, Maine’s residential real estate market is likely to see fewer transactions in 2023 than in the last three years. But mortgage rates might have peaked.
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2023 Forecast: Brunswick Landing’s goals include early tech development and new space
Brunswick Landing is attracting startups focused on innovation — including the ongoing development of the 'new space' industry.
2023 Forecast: Burdensome regulations spur gloomy outlook among lobstermen
A six-year delay of new federal rules could give the lobster industry time to pursue legal and legislative avenues to assure the long-term future of the fishery. The legal battle is underway.
2023 Forecast: Restaurants still rebounding, but strong numbers overall
Maine’s hospitality industry had a very good 2022, but restaurants are struggling to rebound from the pandemic. And challenges due to the labor shortage are expected to persist.
On the Record: More growth ahead for Orono class-registration software startup CourseStorm
CourseStorm is an Orono-based provider of class registration and marketing software for clients nationwide.
- Ask ACE
Ask ACEAsk ACE: How should I focus my marketing efforts?
Emily Brackett, Visible LogicWhen launching a one-person business as a coach, consultant or freelancer, start with your current connections and move out from there, says Emily Brackett, president of Visible Logic. Make your marketing personal. Your clients will hire you because they trust you and your expertise.
Newsworthy people and performances for Jan. 9, 2023
A roundup of new hires, promotions and achievements at companies around Maine.
- Building Business
Building BusinessWith New Year upon us, a number of projects are completed
The new year ushered in new space for Maine Law and Waterville's Paul J. Schupf Art Center, which will also serve as the headquarters for Waterville Creates.
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Economic outlook is cloudy, but people seem busier than ever
Talk to any economist and they’ll point to trouble signs: Ongoing inflation, higher interest rates, an ongoing labor shortage. There’s also the looming threat of a recession. But the crazy thing is, if you talk to nearly any business leader, they’ll say they’re busier than ever.
