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Every January, Mainebiz looks at the coming year and asks a range of experts, “What can we expect?” This year, we asked an even larger group of leaders — CEOs, small business owners, nonprofit leaders and economists — what 2019 will look like. The responses are more nuanced and tempered than the past few years. Yes, construction and real estate are strong, as are certain industries, but there are some warning signs. For the first time in a while, we're hearing more leaders express concern about the next “contraction” or recession. We'd encourage you to read the following pages and form your own opinion.
Christine Cummings, executive director of the Maine Grocers & Food Producers Association
Jim Damicis, senior vice president at Camion Associates
Peter Dufour, founder of Dufour Tax Group
Kevin French, executive vice president of Landry/French Construction
Peter Horch, founder of Horch Roofing
Chip Kelley, Maine market president for KeyBank
Kevin Lewis, president and CEO of Community Health Options
David Libby, president and CEO of Town & Country Federal Credit Union
Jeff Lind, COO at Clark Insurance
Amanda Rand, president of Spinnaker Trust
Molly C. Reinfried, certified financial planner at HM Payson
Patrick Scully, managing partner at Bernstein Shur
Sue Spann, co-owner of RE/MAX Riverside Real Estate Co.
Bryan Thompson, CEO of Thompson-Hamel LLC
Matt Tracy, founder and president of M. Leonard International Inc.
JB Turner, president of Front Street Shipyard
Margo Walsh, founder of MaineWorks
Nate Wildes, executive director at Live and Work in Maine
Rick Wolf, owner and partner with the B&B Team
Amanda Rector, Maine state economist
Steve Lyons, director of the Maine Office of Tourism
Christina Kane-Gibson, events and marketing director of the city of Caribou
1. The stock market's unsteady performance
2. Historically low unemployment constricts business growth
3. Tariffs forcing changes in some industries
4. Banks are heavily invested in real estate
5. We're near the end of the economic cycle.
1. Construction projects now underway or on the books
2. Continued demand for real estate space
3. Shortage of affordable housing will create ongoing demand
4. Even with increases, interest rates will remain relatively low
5. Changes in Augusta will be good for certain industries.
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 MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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