Maine manufacturing industry holds steady
The overall health of Maine's manufacturing industry kept its 'C' grade for the fourth consecutive year in an industry survey by Ball State's Center for Business and Economic Research.
The latest report shows slightly lower marks in the state's human capital, its expected liability gap, the global industry reach and productivity and innovation over last year's report.
The survey showed improvement, however, in the state's tax climate, which it moved from a "D" grade to a "D+."
The changes were incremental in each category except for productivity and innovation. That category dropped from a "D+" to a "D-," which Michael Hicks, director of the Center for Business and Economic Research, said in a press release is due to the state's low relative growth in manufacturing value-added products.
On a positive note, Hicks said the state continues to have a strong work force, despite that category's grade dropping from a "B" to a "B-."
"Within New England, the states of New Hampshire and Maine have become very attractive to manufacturing expansion, while Rhode Island and Vermont have created a policy environment which acts to discourage manufacturing firms," Hicks said. "Massachusetts continues to lure [manufacturers] attracted to the high technology opportunities of their university research and development."
Read the full 2013 report here.
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