The Governor's Economic Recovery Committee is engaging economic experts and industry representatives from across Maine to develop specific policy recommendations to stabilize the states economy and build a bridge to future prosperity in the wake of the COVID-19 pandemic. WebIn 2020, Maine generated around $0.7 billion in agricultural cash receipts with the highest valued commodities being miscellaneous crops, potatoes, and dairy products, A new report from the Bioscience Association of Maine shows the state added about 1,600 jobs between 2020 and 2021 alone. Maine industry WebA recently compiled research report commissioned by Maine DECD and the Maine Film Office concludes that Maine's Visual-Media industry brings hundreds of millions of dollars to Maine and is a significant force in Maine's Creative Economy. Maine's economy finished 2021 with strong economic growth. Maria Fuentes, executive director of the Maine Better Transportation Association, said earlierthat the association supports voluntaryadoption, but we just think that were not ready to try to force fleets or manufacturers to move forward at this point.. Tselikis said the study is the first to examine the economic impact the dealers and processors have in getting the product to market. Market Research and Statistics Industry How is the marine economy captured in the core statistics currently produced by the Bureau of Economic Analysis (BEA)? Their shrink rate Im willing to bet is, if not the lowest, one of the lowest in the entire state, Ready said. We have to take it more seriously, in my opinion. Based on the framework of the states 10-year 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 nonprofits mission and work. WebThe history of the lumber industry in the united states spans from the precolonial period of British timber speculation, (which included Maine) and another 20 percent coming from New Hampshire. Although the sector has experienced a decline in the face of strong What is the Marine Economy Satellite Account? Around 1880, Portland's rail link and ice-free port made it eastern Prevailing Wage Rates for H-2A Program-Agricultural Online Is the US economy growing or declining? ", BEA, Real gross domestic product of Maine in the United States from 2000 to 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/187889/gdp-of-the-us-federal-state-of-maine-since-1997/ (last visited August 21, 2023), Real gross domestic product of Maine in the United States from 2000 to 2022 (in billion U.S. dollars) [Graph], BEA, March 31, 2022. Economy | Maine: An Encyclopedia Just a few weeks ago Maines hospitality industry was advancing toward its 12th straight year of record sales. Economic Maine Comprehensive Research and Development Evaluation 2008: a report to the Maine Office of Innovation, Department of Economic and Community Development. document.write(new Date().getFullYear()); The difference between a good and bad summer tourism season has huge implications for Maines economy. Data presented here is in 2012 chained U.S. dollars. The former Crystal Lake Grange at Clearwater lake, which was torn down. Augusta, Me. COVID-19 takes $400-million toll on Maine Maine Industry Logging is the foundation of Maines $7.7 billionforest products industry, supporting more than 9,000 jobs. The single largest increase came in the area of information. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Tourism remains a significant industry for the state. Its per capita personal income for 2003 The challenges facing loggers are not insurmountable, but failure to overcome them would be disastrous for Maine.. This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Maine Development Foundation. Currently, you are using a shared account. Members of the industry and its advocates dispute that the western Maine marijuana ring allegedly run by Lucas Sirois of Farmington showcases wider corruption in Maines medical marijuana industry, which features over 3,000 caregivers as of 2020 and tens of thousands of patients. Governor Janet Mills announced today that 224 Maine forestry companies, the vast majority of them with ten employees or less, will receive a total of $6 million in initial grants from the Forest Recovery Initiative of Industry The population was 788 at the 2020 census. WebThe Maine economy has passed through stages typical of most states, with an initial focus on extractive activities ( fishing, logging, slate and granite quarrying, other mining, and It is monitoring the petitions that will be considered Thursday. The U.S. Department of Commerce's Bureau of Economic Analysis released a report on each state's economy last year. Maine Science & Technology Foundation. Economic Development The Conservation Law Foundation plans to release a report Wednesday about the benefits of electric vehicles, including the savings on fuel and maintenance for drivers, climate benefits and a decrease in air pollution. Chart. Fishing, the state's earliest industry, has declined considerably except for lobstering. Each states economy has different strengths based on its natural resources, workforce, and core industries. Last updated: May 24, 2021. Lobster industry's massive impact on Maine economy. wholesaling of Maine aquaculture products, Maine aquaculture products sold within the Maine news, sports, politics, election results, and obituaries. To use individual functions (e.g., mark statistics as favourites, set 2010. Personal Income, Population, Per Capita Personal Income - U.S. Department of Commerce, Bureau of Economic Analysis. The state has always been affected by international trade, including the early British appetite for masts and ships and the European market for fish. Maine "Real gross domestic product of Maine in the United States from 2000 to 2022 (in billion U.S. Maine news, sports, politics, election results, and obituaries. Later the economy shifted to larger-scale manufacturing (textiles, wood products including lumber and paper, and shoes) before maturing into a services oriented economy with its emphasis on retailing, tourism, professional services, government and educational programs, and most recently health care, technology based pursuits, and financial services. Weblarger Maine defense companies to fill specific gaps in their supply base 5. Maine is the only state in the country with a significant fishery for baby eels, which are also called elvers. Industry Bed & Breakfast & Hostel Accommodations in Maine industry statistics. IBISWorld, Administration & Business Support Services, Professional, Scientific & Technical Services, Specialist Engineering, Infrastructure & Contractors, Water Supply; Sewerage, Waste Management and Remediation Activities, Identify threats and opportunities at the subnational level, Inform your business strategies and planning. WebMaine Economic Overview GROSS STATE PRODUCT attach_money Growth Rate State Growth Rank POPULATION group Growth Rate State Growth Rank BUSINESSES Maine In addition to the sporting camp complexes, a considerable number of resort hotels were erected in the late nineteenth and early twentieth centuries that provided not only full accommodations, but also a whole range of recreational activities including golf, tennis, and boating. The Augusta-based Professional Logging Contractors of Maine this week released the study, "The Economic Contribution of Logging and Trucking in Maine," which was conducted by the University of Maine and the Margaret Chase Smith Policy Center. Moreland Fichtner, Donna. He said the numbers are right on track with a study done earlier this year at the University of Maine, which predicted major losses to the states hospitality industry. The real average wage for workers in the logging industry in 2017 was $47,289 (in 2018 dollars). WebConsensus Economic Forecasting Commission The Department of Administrative and Financial Services provides staff support for the Consensus Economic Forecasting Commission (CEFC), an independent group of economists who forecast Maine's economy. See also Fly Rod Crosby. [Search on these terms for specific towns.]. Maine Maine ports play a key role in national transportation. Maine The Gulf of Maine is known for lobsters, which form the foundation of an industry critical to the states economy. The Mills administration has set an ambitious goal of having 219,000 electric vehicles registered in the state by 2030. On average, survey respondents had 42 operational weeks in 2018 and harvested 1,621 acres per firm. The Bureau of Economic Analysis tracks the annual value added by each industry within the state. Due to our new system upgrade, we are requesting all existing users to update their password. Shipbuilding has greatly declined in recent decades, but the state now Boston as New England's busiest port (by tonnage), due to its ability to handle large tankers. The federal Bureau of Economic Analysis reported Thursday the state's Gross Domestic Product grew at a 6.8% annual rate. WebMaine Economy at a Glance: Maine; Data Series Back Data Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 June 2023; Labor Force Data. Accessed August 21, 2023. https://www.statista.com/statistics/187889/gdp-of-the-us-federal-state-of-maine-since-1997/, BEA. Why is it so widely tracked? WebTelevision Broadcasting in Maine - current trends and industry outlook (2018-2028) The Television Broadcasting industry in Maine is expected to decline an annualized x.x% to $170.6 million over the five years to 2023, while the national industry will likely grow at a rate of x.x% during the same period. Maine | The Economic Contributions and Impacts of U.S. Food, WebFishing is a heritage industry in Maine, and at its foundation are the hard-working lobstermen and fishermen who have made a living on our oceans for many generations. A news reporter in coastal Maine for more than 20 years, Bill Trotter writes about how the Atlantic Ocean and the state's iconic coastline help to shape the lives of coastal Maine residents and visitors. Save my name, email, and website in this browser for the next time I comment. A new economic study shows that the lobster supply chain in Maine contributes $1 billion to the states economy each year and generates 4,000 jobs throughout the state. Industry Ahead of a Thursday hearingbefore the states Board of Environmental Protectionthat would push Maine toward Californias aggressive electric vehicle standards, Lee Auto Malls Chairman Adam Lee said the proposed timeline from environmental groups may be too strict given the potential short supply and high costs in the emerging sector. The ideal entry-level account for individual users. Progress on electric vehicle sales would be reviewed by 2028 to determine if the board should adopt the California mandate. As in 2014, the majority of respondent employees work in the woods, on average seven per firm; an additional average of two per firm provide office support, three trucking and one mechanical support. Maine Tourism Industry The CEFC meets twice a year to update its economic forecast, which is used in Now, other than naval vessels, large ships, such as the ferry Scotia Prince, cruise ships and oil tankers, that ply Maine waters are built elsewhere. What is gross output by industry and how does it differ from gross domestic product (or value added) by industry? by Industry Large amounts of lobster and sardines are harvested from the waters off the coast. USDA They wanted [the study] to be as accurate as possible.. Economy Equal Access|Disclaimer|Privacy|Accessibility|Division Policy|Site Map, This work is supported by the USDA National Institute of Food and Agriculture, [Hatch project, Maine Department of Agriculture, Conservation, and Forestry, 2021- Fact Sheet- Meat Fuels America, 2016, 2021- Fact Sheet- Poultry Feeds America, 2020, 2020- Fact Sheet- Feeding the Economy, 2019, 2018 Fact Sheet The Animal Feed and Pet Food Manufacturing Industry is Crucial to American Agriculture, Economy, 2017 Fact Sheet AFPA State Industry Economic Impact, 2017 Report Maine Aquaculture Economic Impact Report, 2016 Report Economic Analysis of Animal Agriculture 2005-2015, 2015 Report Economic Impact of the Turfgrass Industry in New England, 2015 Report Northeast Economic Engine Agriculture, Forest Products and Commercial Fishing Report, 2015 Article Economic Impacts of Agriculture in Eight Northeastern States, 2014 Economic Impact of Maines Maple Industry, 2014 Report Economic Impacts of Agriculture in Eight Northeastern States, 2011 Report Economic Contribution of Maines Food Industry. 2010. You only have access to basic statistics. Its industrial outputs are paper, lumber, and wood products, electronic equipment, leather products, food processing, textiles, and Janet Mills, a Democrat, has said it does not want to let decisions by another state determine Maines actionson replacing gas with zero-emission vehicles. History of the lumber industry in the United States In, BEA. 4600 Silver Hill Road Suitland, MD 20746, Tables 1-8: Marine Economy Value Added by Activity, Tables 9-18: Marine Economy Value Added by Industry, Tables 19-24: Marine Economy Gross Output by Activity, Tables 25-30: Marine Economy Gross Output by Industry, Defining and Measuring the US Ocean Economy. Gross domestic production (GDP) estimates the size of an areas economy. Maine The state's industry generated $582 million in economic output, down slightly from $619 million in economic output back in 2017, the last time a similar study Maine's baby eel fishing industry is wrapping up one of the most successful seasons in its history. Quotation from National Historic Register file Dreamhome, Oxford County, Greenwood and Woodstock. Other important products are soft-shell clams, mussels, crabs, and sea urchins. Seafood, poultry and eggs, potatoes, dairy products, cattle, blueberries, apples. WebStrategy TALENT November 15, 2019 Dear Governor Mills, Members of the Legislature and residents of Maine, This is a 10-year Economic Development Strategy for Maine. Michael Donihue, economics professor at Colby and project leader for the study, said Thursday in a prepared statement the supply chain may not be as conspicuous as the fleet of lobsters boats that come and go each day from Maines harbors, but that it nonetheless pays a significant role in the state economy. How large is the states economy? Real gross domestic product (GDP) by industry. Very simple equation. Maine Your email address will not be published. WebMaines outdoor industry is made up of outdoor gear manufacturers, retailer, guides and outfitters, sporting camps, campgrounds and ski, golf and wilderness resorts, adventure Industry Bangor arose as a lumbering boom-town in the 1830s, and a potential demographic and political rival to Portland. Study: Maines timber industry had $8 billion impact tied to 32,000 jobs in 2019. U.S. per capita consumption of fresh bananas 2000-2021, U.S.: per capita consumption of fresh apples 2000-2022, U.S. per capita consumption of fresh pineapples 2000-2021. Directly accessible data for 170 industries from 150+ countries WebWhat: A three-day event to connect, learn, and collaborate to focus on the shared vision of advancing Maines outdoor recreation economy. As the number of people drawn to the interior increased, however, an entire industry emerged to cater to their needs. A brief guide to how the government uses a survey of 60,000 households to determine who's employed or unemployed. Government data offers valuable insights into a state's economy. Most mills in Maine are now paying loggers a bonus to offset the cost of fuel, and some are paying slightly more now for fiber. This is one of many industry guidance documents for business that the State is preparing for businesses Kew said Maine's hospitality and tourism industry is an "enormous" sector for the state, as it is connected to more than 100,000 jobs and billions of dollars for the economy. Study shows logging and woods trucking supports more than 5,600 jobs and a range of industries and communities in Maine. Canada's principal winter port, until the aggressive development of Halifax, Nova Scotia, in the mid-1900s. It took into consideration upstream and downstream spending on total lobster purchases; wages and taxes; operating expenses and capital investment, among other facets of the industrys complicated supply chain. Economic Member Benefits: Maine PBS Passport, MemberCard & More. This is enhanced by relatively low levels of regulation, taxation, Maine Adult-use cannabis is now legal in 21 states. Maine WebThe industry sectors that contributed the most to Maines first quarter growth in GDP were retail trade (0.86 percentage points); durable goods manufacturing (0.72 percentage About 60% of Maine's agricultural revenues are derived from livestock and livestock production; 40% from crops. Maines logging sector is heavily dominated by small businesses, with an average (between 2006 and 2016) of 67% of employing establishments in the industry employing fewer than five people. Please create an employee account to be able to mark statistics as favorites. Show publisher information Maine One persistent pattern, poverty and low educational attainment, may hamper the states economic growth potential as needed skills are in short supply and the social costs of poverty continue to grow. Even for an industry known for difficult labor without great rewards, these are particularly hard times for Maines loggers. The Bureau of Economic Analysis provides the relevant economic data. WebAs the number of COVID-19 cases begins to decrease, the State of Maine is adopting a staged approach, supported by science, public health expertise and industry collaboration, to allow Maine businesses to safely open when the time is right. As media exposure and industry data on Maine's recreational marijuana businesses became increasingly available, the Colby Laboratory for Economic Studies launched a research project to examine this emerging industry and its impacts on various aspects of the Maine economy. The Bureau of Economic Analysis is the government agency that calculates the GDP. Press Herald, January 23, 2005. Ready said many dealers each lose significant of money each year from shrinkage, which is an industry term for lobsters that dealers buy but have to discard because they die and cant be used. Timber Services in Maine industry statistics. She was a Knight journalism fellow at M.I.T. The economic study comes in the wake of a 2019 Maine Logger and Log Trucker Employment Availability and Wage Analysis. The study says the logging and woods trucking industry also contributed an estimated $619 million to the state economy in 2017, the latest figures available., This study demonstrates the vast impact logging has on the Maine economy and highlights its role as the foundation of the states entire$7.7 billionforest products industry, Dana Doran, executive director of the Professional Logging Contractors of Maine, said in a news release. These entities are overwhelmingly (94%) run by sole proprietors. WebThe Maine Lobster industry is a part of the fabric of Maines coastal communities. Economic Dislocations have usually been resisted, first by businesses and employees alone, then by short-term protection, tax subsidies, and general support from State government through various development commissions, economic development departments, and partnerships with the tourism industry. 88% of adults want to legalize weed. Maine A study released this week by Colby College and Maine Lobster Dealers' Association indicates that lobster dealers, distributors, and processors contribute $1 billion to the state economy each year. Lori Valigra, senior reporter for economy and business, holds an M.S. Maine Department of Economic and Community Development, Office of Innovation. Maine's economy finished 2021 with strong economic growth Maine Public | By Irwin Gratz Published March 31, 2022 at 1:04 PM EDT Listen 0:35 Maine's These positive trends attach_money Maine Market Size: $228 m. business Number of Businesses in Maine: 52. supervisor_account Maine Industry Employment: 1,321. poll Contribution to Maine Economy: x.x% lock Purchase this report or a membership to unlock the average County is known for its potato crops. Use Ask Statista Research Service. Follow the Bangor Daily News on Facebook for the latest Maine news. Work for ME is a workforce development tool to help Maines employers specifically target Maines emerging workforce. Maine is currently ranked 44th in the United States for its economic outlook. Make it Maine, Make it New Shell. In 2021, Maine generated around $0.8 billion in agricultural cash receipts with the highest valued commodities being potatoes, miscellaneous crops, and dairy products, specifically milk. attach_money Maine Market Size: $48 m. business Number of Businesses in Maine: 43. supervisor_account Maine Industry Employment: 1,314. poll Contribution to Maine Economy: x.x% lock Purchase this report or a membership to unlock the average company profit margin for this industry. Current (2023) Rank Trends. The Task Force. Five states, including California and Texas, contribute about 41% of US GDP. The state's 5.2% increase in economic output for the year was the biggest such annual gain since at least 1999, when Maine's Gross Domestic Product grew by 5%. Maine Economic Indicators Maine Census data and information from theU.S. Bureau of Labor Statistics was also incorporated. Notify me of follow-up comments by email. The average number of wood-based employees per firm, as calculated from survey responses, is a little more than half of what it was in 2014. Its staggering. Coronavirus and papermaking woes bring tough times attach_money Maine Market Size: $383 m. business Number of Businesses in Maine: 2. supervisor_account Maine Industry Employment: 160. poll Contribution to Maine Economy: x.x% lock Purchase this report or a membership to unlock the average It is one reason his Portland-based business buys lobster from that cooperative, which is located off Mount Desert Island. Third-Party Administrators & Insurance Claims Adjusters in Maine industry statistics. Certainly, elements of extraction, agriculture, manufacturing, and services continue in the mix. That report found Maine is facing a shortage of loggers and log truckers that will grow and which could hinder the growth of the forest products industry in the state if wage growth does not occur. Only 8% of the firms were identified as conventional hand crews using chain saws.Respondent companies employed slightly fewer crews on average in 2018 than in 2014. Of surveyed firms, 56% were whole tree harvesting operations, and another 35% as cut-to-length harvesting operations both of which use combinations of mechanized logging equipment such as feller bunchers, delimbers, grapple skidders, forwarders, and harvesters to cut, yard, and process wood. was $29,164, 29th in the nation. According to the Maine Office of Tourism, or MOT, 68 percent of all out-of-state visitors PORTLAND, Maine April showers bring a few things to Maine. WebThe first BioME Industry Report, Life Sciences in Maine: State of the Industry 2019, was released at the 2019 BioME Annual Conference and is a comprehensive life science industry reports focusing on employment, earnings, economic impact, funding sources, higher education and other important aspects of this sector.This report is available as History of Maine Maine has a small trapping industry, which, with 3,157 resident trappers, is nevertheless larger than that of most Eastern states (Source: Portland Maines 1,143 Asian-owned businesses had sales and receipts of $284 million and employed 2,543 people in 2007 . Lobster supply chain contributes The marine economy accounted for 1.8 percent, or $730.0 billion, of current-dollar gross output. Then you can access your favorite statistics via the star in the header. Webtourism industry contributes 20.8% ($10.082 billion) to the gross state product. The term Gross domestic product (GDP) is commonly cited in economic reporting. That was an overalldecreaseof from 2014, when data showed 14.1 million tons of timber were harvested in Maine, including 4 million tons of saw timber, 7.3 million tons of pulp wood, and 2.9 million tons of biomass. Most economists are interested in the rate of growth. Portland-based Rarebreed Veterinary Partners is the highest Thirteen percent rarely (less than 50% of the time) trucked their own material and 24% contracted with an outside source for all their trucking needs. International Ferry Scotia Prince, a Harbor Island Ferry, and Oil Tanker in Portland Harbor (2003). password ? Data reflect state and local rates and revenues and any effect of federal deductibility. the consequences of their policies. This represents a 3.2% increase in wages since 2014. This [study] is a great first step.. A study conducted in 2016 shows that the lobster supply chain in Maine contributes $1bn to the states economy each year.
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