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In a special edition celebrating its 30th anniversary, Mainebiz looks at how the state's businesses and economy have changed over the past three decades. The culinary identity of Portland is one such transformation.
Greg Boulos looks back on some of the significant real estate changes in the time he's been with Portland-based Boulos Co.
In 1994, Maine was known for its fishing, farming and logging industries. However, times have changed and three new industries are on the rise.
As part of the 30th anniversary celebration for Mainebiz, staffers Renee Cordes, William Hall, Allison Spies, Andrea Tetzlaff and Peter Van Allen recall the good old days of 1994.
Norm O’Reilly, an accomplished author and academic, joins UNE after serving as dean of the Portland-based Graduate School of Business at the University of Maine.
The financial technology services provider is now forecasting 2024 revenue to be in the range of $2.73 billion to $2.77 billion, up from the company's previous forecast of $2.7 billion to $2.74 billion.
Norway Savings Bank has renewed its longtime support of Partners for World Health with a donation to the nonprofit.
Nine luxury townhomes will be offered at $1.9 million apiece. The development is a collaboration between NewHeight Group and Redfern Properties. Vitalius Real Estate Group is handling the sales.
Machias Savings Bank has named Barbara Durr as senior vice president, government banking relationship manager.
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.
For months, banks and other businesses have looked 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 had 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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