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State Resources


Maine Business Resources

Nearly 90 percent of Maine is covered in forest, and the manufacture of wood products has been at the core of the state’s economy since the first European colonists came to the land. For over 400 years, a vibrant shipbuilding industry took advantage of this abundance of lumber and the state’s proximity to the sea.

Maine currently has a diversified economy that is led by the service sector. Manufacturing is another major industry, thanks in part to the abundance of trees that are used for paper production. Maine still maintains its history in shipbuilding, though now the industry is mostly focused on production for the U.S. Navy. Agricultural activities within the state are minimal, though Maine is one of the leading producers of potatoes within the United States. The state’s natural beauty also attracts many tourists who help to augment the economy. Maine is a leading producer of many shellfish, especially lobster.

Business Data

Per Capita Real GDP$30,305 Rank: 42/50 (2006)
Population1,274,920 Rank: 40/50 (2000)
Per Capita Personal Income$32,348 Rank: 34/50 (2006)
Unemployment Rate5.00% Rank: 36/50 (2008)
Business Tax Climate IndexRank: 41/50 (2008)
Corporate Tax Rate3.5% - 8.93%
Individual Tax Rate 2% - 8.5%
Sales Tax Rate 5%

Business Tax Climate Index

Individual Income Tax Index Rank38
Sales Tax Index Rank13
Unemployment Insurance Tax Index Rank40
Property Tax Index Rank41
Business Tax Climate Index41
Corporate Tax Index Rank43

State Information

AbbreviationME
CapitalAugusta
Nick NamePine Tree State
State Web Sitehttp://www.maine.gov
MottoI lead

Top 5 Export Partner Countries

Canada, Malaysia, China, Japan, Korea, South

Top 5 Export Merchandise

Computers and Electronic Products Sales Transportation Equipment Sales Machinery Manufacturing Computers and Electronic Products Manufacturing Textile Mills Manufacturing

Major Cities

Portland

GDP

Total Gross Domestic Product (USD Millions) $48,108.00 (2007)
Per Capita Real GDP (USD)$30,282.00 Rank: 43 (2007)

Population Stats

Population 1,316,456 Rank: 40 (2008)

Age Distribution

Under 18 Population301,238
Under 18 Percent of Total Population24%
65 and older Population183,402
65 and older Percent of Total Population14%

Gender Distribution

Male Population48.7%
Female Population51.3%
Non-English Speaker (at home)84,336
Net International Immigration5,004
Birth Rate10.6%
Percent of People Under Poverty Level12.6%
Rank25

Expenditure

Per Capita State Spending$7,518
Rank14
Energy Expenditures per Person$4,587
Expenditures of State and Local Government Employee-Retirement Systems$557,774

Revenue

Personal Income$54,984
Rank34
State Internal Revenue Collection$6,289,216
Rank43
Cash and Deposits by State Government$435,235
Per Capita State Tax Collection$2,740
Rank12

Education

High School Graduation Rate76%
Rank18
Percent of Population with a Bachelor's Degree17%
Rank24
Percent of Population with an Advanced Degree8.9%
Rank26

Largest Universities

University of Maine University of Maine, Augusta University of Southern Maine
High School Graduation Rate76%

Logistics

Public Road Length (Mile)22,783
Gas Tax Rate (%)26.8%
Highway Planning and Construction (USD Thousands)150,249
Number of Public Airports68

Main Airports

BGR: Bangor International

Ports

Portland Searsport

Weather


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State Business Links

Portland Press Herald
http://www.mainetoday.com

Secretary of State

Maine Secretary of State
http://www.maine.gov/sos
Offers administrative and background information on the current Secretary as well as agency functions and services.

Small Business Administration

Maine Small Business Administration
http://www.sba.gov/localresources/district/me/index.html
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. We help Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

Top 10 Business Links

Maine Biz
http://www.mainebiz.biz/
Maine Biz provides daily updates on news in Maine’s business world. Articles are typically short but there are featured articles that are longer.
Maine Business News
http://mainebusiness.mainetoday.com/
This business news service is designed with businesses in mind, providing typically short bits of useful information. This services aims to keep Maine businesses informed of what other businesses are doing, in general and in tackling challenges. The site also provides insight from expert bloggers reporting on various business topics.
Maine Business Works
http://www.mainebusinessworks.com/
MBW is a development resource for Maine businesses. The site provides a search function to help figure out financing, and a training section listing numerous business development seminars and workshops.
Maine Center for Business and Economic Research
http://www.usm.maine.edu/cber/
The website for the CBER at the University of Southern Maine provides access to a number of research papers, reports, and projects that have been completed and may be of interest to business persons.
Maine International Trade Center
http://www.mitc.com/
This goal of this member-based organization is to assist businesses with international trade. It provides technical assistance, counseling, training and seminars, and more to members. Numerous reports, presentations, and some international trade statistics are available on the website for everyone.
Maine Labor Market Information
http://www.state.me.us/labor/lmis/
This part of the Department of Labor website provides access labor market information, covering labor force, occupation, income & wages, employers, education, demographics, and economic indicators. Area, industry, and occupation profiles are also available.
Maine Small Business Development Centers
http://www.mainesbdc.org/
The Maine SBDCs aim to help small business in Maine develop. The website provides detailed information on a wealth of topics of interest, such as business plans or taxes/bookkeeping. The offices offer counseling and training on many business matters, either free or at a nominal cost.
State of Maine: Office of Business Development
http://www.mainebiz.org/
The Maine Office of Business Development provides information on doing business in Maine, infrastructure and economy in business, tax incentives, development zones, and more. Various publications to aid businesses are also available.
U.S. Export Assistance Center of Portland
http://www.buyusa.gov/newengland/portland.html
The Maine branch of the Department of Commerce specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided.

Featured Brokers
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BTI Group / Business Team
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