| Search | |
Survey
Should regulation of direct to consumer genetic testing be increased?BioFact:
(1997) - Battelle predicts Genetaceuticals, the combination of genetic research & pharmaceutical needs will foster an explosion over the next decade in the pharmaceutical industry.
HDMA’s Looking Forward in Reverse Logistics Healthcare Seminar - Sept. 22-23 - Dallas, TX
Economy/Cost of Living
Industry
Snapshot | Education
Recreation &
Entertainment | Transportation | Geography
& Climate
History | Suggested Reading
List
To ensure future prosperity, Maine’s economy is currently undergoing an aggressive and vast transformation. The government has created several programs and initiatives to assist state economic development. Goals include increasing science and technology research & development, stimulating investment and diversifying the economy, thereby redefining Maine as a powerful regional, national and international market.
Maine enjoys an affordable cost of living, combining high homeownership rates and low median home prices. In 2000, the state’s homeownership rate was 71.6%, significantly higher than the national average of 66.2%. And in 2001, the median price of a home in Maine was $123,500, well below the national median of $147,500.
Maine’s 1999 Gross State Product (GSP) was over $34 billion. The services industries accounted for the largest percentage of the GSP. Other leading industries were manufacturing, real estate, insurance, retail and wholesale trade and transportation. Mining continues to decline significantly in its percentage share of GSP, while wholesale and retail trade, followed by agriculture, forestry and fishing, have shown the greatest increases.
Employment in high-technology industries continues to increase, with numerous indications of continued growth. Maine recently received promising rankings from the Progressive Policy Institute’s 1999 The State New Economy Index. Nationally, Maine was ranked 11th in globalization, a combined measurement of the export focus of manufacturing and foreign direct investment, and 13th in economic dynamism, a measurement of employment by rapidly growing businesses, business success and IPO value.
Several programs and services of interest to businesses are administered through Maine’s Department of Economic and Community Development and the Finance Authority of Maine (FAME), including:
|
Other organizations of interest to business development include:
|
Although relatively small, the dynamic and innovative nature of Maine’s economy offers unlimited growth and opportunity.
Related Resources:
