Maine is a beautiful and welcoming state, but it also faces significant economic hurdles. Specifically, its economy is one of the smallest and slowest growing in the country. In addition, Maine’s workforce is getting smaller in conjunction with its population getting older.
The result? Many jobs are shifting from production-focused, foundational jobs to service jobs, which are often lower paying. Indeed, many of the jobs found in Maine are among the lowest-paying in the nation and economic experts believe the state will see less than 1% job growth over the next several years.
How can we overcome these major hurdles? It all starts with developing and sticking to a long-term, beneficial economic plan.
First and foremost, any successful long-term plan for Maine’s economic prosperity should include a detailed strategy to bring good-paying jobs back to the state. More specifically, this plan should build on the strengths inherent to Maine, such as our abundance of natural resources, as well as identifing and promoting the successful jobs of the future.
Simultaneously, a long-term plan should include means to support and assist existing Maine companies to expand their jobs and potential. For example, policies should focus more on making it easier for small business owners to both start and run successful businesses in this state.
Lastly, a successful long-term plan should include strategies or initiatives to reduce the costs for both businesses and families so they can buy homes and put down roots. At the moment, the high-cost burdens throughout Maine scare off businesses and investors and make it difficult for families to move and stay here.
Ultimately, the path to a brighter economic future for Maine starts with all of us. Sign up for our newsletter to stay informed and to learn how you can help!