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June 23, 2010

ME job creation lagging, says MHPC

By The Mainebiz News Staff

Portland-based Maine Heritage Policy Center has released a series of reports showing Maine trails more than half the country in job creation.

Using data for more than 160,000 commercial, nonprofit and government establishments between 1993 and 2007, the conservative think tank found that establishments expanding in Maine created on average 25,052 jobs a year, while contracting establishments eliminated 22,061 jobs a year -- leaving a job gain of nearly 3,000. Expansion in Maine during that time period created nearly 45,000 jobs, or a 6.5% gain, ranking the state 49th in the country for job creation due to expansion. By analyzing job creation from companies leaving and coming into the state, MHPC found that on average 754 jobs were created a year from in-migration, while 823 were lost from out-migration -- a deficit of 69. Over the 15-year period, Maine lost more than 1,000 jobs from out-migration, ranking it 31st in the country, according to the report.

The center also found that Maine lost more jobs through business closures than it gained through startups. Between 1993 and 2007, new startups created 29,755 jobs a year, not enough to replace the 30,359 lost from closures, resulting in an average loss of 604. Maine lost more than 9,000 jobs during that period, ranking it 30th in the nation for job creation/loss to the birth and death of establishments.

Read all three reports released this week from MHPC here.

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