January 8, 2024 Edition

Professional services

🔒Ask ACE: What do you recommend as a customer retention strategy?

The personal approach never goes out of style, particularly when it comes to retaining clients, writes ACE columnist Donna Brassard of Strategies+.

Economic development

🔒2024 Forecast: The Downs looks to ‘transformative’ year

According to Dan Bacon, the development director of the Downs, 2024 will be a transformative year with the activation of the planned Town Center.

Economy

🔒From the Editor: Business has been good, so why is the outlook so gloomy?

The economy has been remarkably resilient coming out of the pandemic, but businesspeople polled by Mainebiz are still cautious about the outlook for 2024.

Downtown revitalization

🔒Building Business: Delayed condos take a step forward in Yarmouth

A Yarmouth condo development, delayed during the pandemic, may finally be moving forward. The site has been cleared.

Small Business

🔒On the Record: CEI’s Grace Mo-Phillips helps fellow female entrepreneurs turn ideas into business

The Women's Business Center, part of Coastal Enterprises Inc., supports women of diverse ethnic and racial backgrounds as they navigate the challenges of becoming an entrepreneur.

Banking & Finance

🔒Newsworthy people and performances for Jan. 8, 2024

New hires, promotions and achievements at Maine businesses, nonprofits and health care organizations.

Economy

🔒2024 Forecast: Portland Jetport director predicts ‘stable growth’ for airport, regional economy

Paul Bradbury, director of the Portland International Jetport, believes the regional economy is well-positioned for modest but stable growth this year.

Economy

🔒2024 Forecast: Maine Black Chamber of Commerce aims to exceed 100 members

The Lewiston-based organization provides advocacy and support for Black business owners across the state. Membership is also open to companies and individuals whom Brister refers to as “race-conscious” business leaders.

Economy

🔒2024 Forecast: ‘Strong, vibrant’ hospitality sector faces staffing, cost headwinds

The head of HospitalityMaine is bullish on Maine hotel and restaurant businesses in 2024 despite staffing challenges and rising costs.

Banking & Finance

🔒2024 Forecast: Liquidity ‘top of mind’ at Maine credit unions

Cris Wescott, interim president and CEO of the Maine Credit Union League, believes the recession fears of a year ago have receded but does not expect significant economic growth in Maine in 2024.

Economy

🔒2024 Forecast: A ‘more normal’ year for Maine retailers

Curtis Picard, president and CEO of the Augusta-based Retail Association of Maine, says that "things have kind of evened out and returned to more normal" for the sector.

Economy

🔒2024 Forecast: At Marden’s, optimism going into the new year

As Marden’s Surplus & Salvage, a Winslow-based discount retail chain, enters its 60th year, the owners are feeling optimistic about the merchandise it has to offer to customers coming into 2024.

Economy

🔒2024 Forecast: After a pandemic slump, demand is returning for office space

Because of long-term leases in place at the pandemic’s onset, its full effects on the office market are yet to be realized. But demand increased in 2023, a good sign moving into 2024.

Economy

🔒2024 Forecast: Despite ‘headwinds’ for consumers, VIP Tires exec is optimistic

Tim Winkeler, president and CEO of VIP Tires & Service, says his outlook for automotive retail is very optimistic. With vehicles getting older and more miles being driven, the sector is in a strong growth mode.

Economy

🔒2024 Forecast: Bam Bam Bakery is ready to take on new year

The bakery leased 1,961 square feet of retail space at the former Ela Market & Grill, at 125 Bucknam Road in Falmouth, after closing a location on Portland's Commercial Street during the pandemic.

Economy

🔒2024 Forecast: For investors, multifamily real estate market looks to ‘settle’ in coming months

Investors in multifamily housing are reassessing the Portland market, looking to places like Lewiston-Auburn.

Economy

🔒2024 Forecast: General ‘unease’ in the air as potential tenants look ahead

While 2023 was a “vibrant and exciting year in the commercial real estate market," says broker Justin Lamontagne, there's an air of uncertainty about the months ahead.

Economic development

🔒2024 Forecast: Maine’s ‘readiness for anything’ has galvanized in recent years

Lee Umphrey, president and CEO of Eastern Maine Development Corp., urges leaders to continue to look for new ways to work together in 2024.

Economy

🔒2024 Forecast: Maine’s life science industry is poised for further growth, ‘domino effect’

While its technologies seem exotic, the challenges facing Maine’s life science industry are familiar. Once confined to Boston and San Francisco, the life science field is thriving in Maine.

Economy

🔒2024 Forecast: Passenger trains again running full speed ahead, but work remains down the track

Maine's railroads are running again, but their future hinges on the success of many factors outside the narrow limits of the tracks.

Economy

🔒2024 Forecast: Maine businesses face mixed indicators, challenges and chances to grow

When the dean of the University of Maine Graduate School of Business, Norm O’Reilly, looks at the state’s economic prospects in 2024, he sees good and not-so-good.

Economy

🔒2024 Forecast: Awareness is building of Maine’s potential in the space industry

Maine's space-related supply chain is small relative to other states, but expanding. Companies interested in establishing a presence in Maine include California tech giant Teledyne Technologies.

Defense contractors

🔒2024 Forecast: Higher interest rates slow new boat orders slightly

In 2022, Hinckley Yachts saw record orders, retrofits and new builds, the launch of its first luxury hybrid model — but also a squeezed labor market.

Economy

🔒2024 Forecast: Aquaculture is an economic ‘bright spot’ with growing demand

Demand for Maine aquaculture products, like other Maine-sourced seafoods, has remained strong despite escalating prices that have caused a slump in other regions.

January 8, 2024 EditionEdition

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