Maine’s real estate, health care industries grow the most; administrative services grows the fastest

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Maine’s real estate and health care are making up an increasing share of the state’s economy, according to preliminary statistics from the U.S. Bureau of Economic Analysis. It’s no surprise — given demographic trends — that Maine’s economic growth has lagged the nation’s. The latest batch of data, however, gives more detail on the shifting internal makeup of the state’s […]

339 degrees of separation: Which state university, college degree-holders earn the most one year out?

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The Maine Department of Labor on Monday released a new data set showing the average wage for graduates earn their first year out, by degree type and school. In short: If you want to know who’s raking it in after just one year, read on. There are some caveats. I’ll get to those first. A liberal arts school graduate myself, it’s worth […]

Unofficial take: Consumer spending held up in Maine through recession

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How did Maine fare through the recession and recovery? Well, we don’t know for sure and it’s more complicated than one number, but preliminary data from the Bureau of Economic Analysis bolsters a storyline that Maine wasn’t one of the Great Recession’s swing states. That is, the lows weren’t as low and the swing back […]

FairPoint earnings down $22.7 million for 2Q with ‘continued pressures on legacy revenue’

The North Carolina-based FairPoint Communications reported a net loss of about $22.7 million for the second quarter of the year, bringing its losses to $54.9 million so far in 2014. And a strike among its northern New England workers, who are working on the terms of a contract expired Aug. 2, could make things worse for the […]

Maine mortgage closing costs rise slower than national trend

Closing on a mortgage has gotten more expensive in the past year, but closing costs in Maine are rising slower than the national average. Experts interviewed by financial data aggregator Bankrate said the increases in recent years mostly are due to new mortgage regulations. Bankrate’s latest survey shows mortgage closing fees rose about 3.7 percent in Maine from […]

Who’s Maine’s richest person? Only #48 in a list of each state’s wealthiest

Wealthiest person by state map from Movato.

Leon Gorman, grandson of L.L.Bean founder Leon Leonwood Bean, former chairman of the company’s board and its past CEO for 33 years, was singled out as Maine’s richest person in a tally by the real estate blog Movoto. Like all viral state-by-state surveys, this one that hit the wire late Thursday has been buzzing about with observers sharing a wide […]

WSJ: Portland Westin projects $1.2 million revenue from bar this year, doubling pre-renovation amount

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Leaders of the companies that renovated the former Eastland hotel in downtown Portland told the Wall Street Journal they’re projecting $1.2 million in revenue from the hotel’s penthouse bar and restaurant this year, doubling what the bar brought in annually under its previous operator. The new owners of the Westin Portland Harborview hotel had also doubled the bar’s size as part of a $50 million renovation of […]

Whereas Maine and New Brunswick have signed an agreement to promote their mutual interests

The text of the three-page agreement signed in Woodstock, New Brunswick, by Gov. Paul LePage and New Brunswick Premier David Alward came my way this morning, laying out in more detail the terms of the pact that the state’s top international trade official said “is a starting point in terms of negotiations and prioritizing for the future.” Here’s what […]

Where wages were highest in Maine and the nation (hint: not Maine) in 2013

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The most detailed survey on wages and employment issued by the Bureau of Labor Statistics shows the average wage in Maine rose about 2 percent from 2012 to 2013. The national average weekly wage rose about 1 percent for the same period. That’s for private sector employees on a payroll (the data is comes through the unemployment insurance system), or most […]