The credit rating agency cites the state’s ‘sustained financial improvements including a large increase in reserves and solid pension contributions practices.’
Maine economy
Posted inBusiness, Local & State, News
Maine made progress in wages and productivity, but still faces shrinking labor force
A report released Friday by the Maine Department of Economic and Community Development says the state has hit some of its 2030 targets but has fallen short of ‘where we need to be.’
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Posted inBusiness, Local & State, News
Housing, cost of living top of mind for Mainers in UNH poll
Hot-button issues like abortion and gun control have taken a back seat to the economic concerns that affect respondents’ lives on a daily basis.
Posted inNews
Report: Out-of-state recruiting helps BIW drive Maine economy
An analysis from University of Southern Maine’s Center for Business and Economic Research found Bath Iron Works supported more than $1.8 billion in economic output in 2021, thanks in part to the shipyard’s push to draw out-of-state workers, a strategy labor experts say could help solve the problem of Maine’s shrinking workforce.
Posted inBusiness, Local & State, News
Maine’s unemployment rate heads toward record low
The state’s jobless rate hits the lowest point since the start of the pandemic and nears record lows set three years ago.
Posted inBusiness, Local & State, News
Did it work? The elusive impact of a $45 million state grant to grow jobs
The Maine Technology Institute, which awarded the taxpayer funds, makes very little data available about the investments.
Posted inBusiness, Local & State
Maine issues last half of nearly $120 million in relief funding to municipalities
The pandemic relief money, provided through the American Rescue Plan Act, was distributed proportionally based on population.
Posted inBusiness, Local & State
Economist: May decline in Maine’s workforce likely a seasonal blip
The state lost 2,900 jobs in May, probably the outcome of a changeover in the seasonal workforce from winter recreation to summer tourism.
Posted inBusiness, Local & State
Workers at Morrill teen mental health facility seek to unionize
Employees at Ironwood Maine say they intend to vote to form a union to improve pay, working conditions and standards of care at the residential program and school.
Posted inBusiness, Local & State, News
Portland-based Covetrus to be taken private in $4 billion deal
The veterinary products and services firm has agreed to an offer by 2 private equity firms that want to buy the company while retaining its Portland headquarters.