DOING BUSINESS IN MAINE
Maine Department of Economic & Community Development
207-624-9800
Heather.johnson@maine.gov
www.maine.gov/decd/
“Maine is at an exciting crossroads, transitioning from traditional natural resource and manufacturing-based industries to a knowledge-based economy.”
— Heather Johnson, Commissioner,
Maine Dept. of Economic & Community Development
TARGETED GROWTH SECTORS
Forest Products: Forest products have driven Maine’s economy for centuries. Maine is home to the largest contiguous forest east of the Mississippi River, 90% of which is privately owned and most of which is sustainably managed. Maine is poised to capitalize on new markets, including mass timber, packaging, and biobased manufacturing.
Outdoor Recreation: Maine Outdoor Brands, University of Maine, and Maine Office of Outdoor Recreation joined to initiate Maine Outdoor Recreation Economy Roadmap. The industry contributes $3.3 billion to the economy, nearly 4% of state GDP.
Life Sciences: Maine is state home to more than 400 life science companies, including leaders like IDEXX and The Jackson Laboratory. Maine also boasts an impressive startup ecosystem for life science businesses, with entrepreneurs frequently starting and scaling businesses in Maine.
10-Year Economic Development Strategy
In April 2024, Maine ECD released a comprehensive update to the state’s 10-Year Economic Development Strategy that reflects and builds upon progress made towards 2030 economic goals. The updated strategy recommits to priorities that remain critical to building a strong economy — including building strong career pathways and increasing renewable energy production. It emphasizes growing needs, like addressing the lack of housing, and builds upon actions taken by Governor Mills’ Administration to strengthen workforce in recent years, such as the nationally celebrated free community college program proposed by the governor and approved by the legislature in 2022.
FEATURED LOCATIONS
Bangor, Maine offers a vibrant community with great neighborhoods, a skilled workforce, and access to beautiful natural resources. With our strategic location is I-95 and our international airport adjacent to our industrial properties, Bangor provides connectivity to major markets.
FAST FACTS
Population (2024 est.): 1,402,110¹
Largest Cities (2024 est.): Portland (69,847); Lewiston (38,296); Bangor (31,645); South Portland (26,661); Auburn (25,217)¹
Real GDP (2023): $75.1 billion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
STATEWIDE INVESTMENT
Maine Jobs & Recovery Plan: Invests nearly $1 billion in Federal American Rescue Plan funds. Since 2021, its initiatives have delivered $175 million to thousands of Maine businesses, created workforce opportunities for 25,000 people, and invested in more than 400 infrastructure projects for childcare, broadband, energy efficiency and weatherization, and housing.
TOP BUSINESS FACILITIES RANKINGS
| Top 10 Quality of Life: Portland | 2024 Metro Rankings |
