Northern New England is emerging from its economic recession steadily, no one is breaking any speed records but all is not down and out as predicted. Some industry sectors are blasting right along. New Nano and Bio tech are strong and people are getting high paying jobs, while others in the areas of VT, NH, ME are saying that summer vacation rentals are not doing looking so hot as one property management consultant told us. Although from what we could tell it looks good. Another income property owner confirmed this who owns properties along 95 all the way into FL. ME is not great, NH is not as good either and a few have given up this year. In NH a 3 bedroom, private dock and hot tub with two boats was going for only $2,000 per week on a lake that was last year and this year about $1800.00 some only $1200 per week; such a deal for a vacation. On the commercial side we are seeing Grubb and Ellis, Prudential, CB Richard Commercial etc. are inundated with properties and eager investors are looking to buy anything producing 8-10% in returns, which a few years back would be poor value and they would be uninterested. In MA, BioTech is getting a little boost from VC but very little else is drawing in funds for expansion.

Healthcare is good, but not great, complaining about all the ruthless and vindictive regulators who are storming them as they say. In Maine many have gone back to school and as a matter of fact when we visited we found that many of those unemployed people have gone back to school or decided to stop looking. Talked with a lady who ran a small business in one city whose husband had hurt his shoulder and was looking for something else but not all that hard. The idea of more people getting degrees in Maine was significant as it compares with Mass with only 1/3 the number of lettered degrees. In one Technical School-College in Maine it was found that 52.5% of all students were non-traditional, meaning online and night school, which is a growing trend across America. Is this non-traditional type of learning as good? Some say it is better.

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We have seen it and can tend to agree in many instances when we are discussing putting American’s back to work. Maine has been making approximately 344 million in sales tax revenues and about 53 million a year in gas taxes. Non-Maine residents contributed 9 Billion in revenue to Maine’s economy in 2001. In winter of 2002-03 there was actually a 4% increase in tourism, which is good and it appears to be beating out airline traffic to other places as people can drive from the megalopolis for the weekend, day or week. But we saw the same thing in Dolly Land in TN where people could drive for a min-vacation.

Average Housing price is up to 148K now, which is 13.8% higher than previously. Hard work ethic is good in Maine and almost as good as the comments on the Western side of the country when discussing those in Iowa and places like Fargo North Dakota. This years Outlook “The State of Maine Business 2005” had plenty of examples of small businesses, housing builders, community banks, colleges, tourism success and other types of businesses doing well. We have to ask ourselves how and when will Maine be back to full speed in reality of the whole?

It looks as if it is happening now, and the time is clicking away as summer is burning and they are making hay as the snowbirds will leave in winter and tourism will be based on diehards and snowmobil’ers. Well it looks as if we are bullish on a few areas that are over 80,000 in population in Maine. There are many cities, which draw from over all population bases, which we can consider. We like Augusta and Portland right away and will be looking at others after a complete economic recovery and in Summer of 2005. If you wish to start a business in Maine we would recommend any large city on the 95 including Bangor, Waterville, Augusta, Auburn/Lewiston/Brunswick, Portland, and Sanford/Springvale. Keep New England in your thoughts.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs