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V O L . X X I V N O. X V I 4 FA C T BO O K / D O I N G B U S I N E S S I N M A I N E Q UA L I T Y O F L I F E M aine's economy is often the tale of two econo- mies. On one hand, the state has strong legacy industries — fi shing and seafood processing, logging and paper making and manufacturing. On the other, we're seeing the growth of companies in fi elds as varied as veterinary science, credit card processing and water testing. (See "10 businesses that should be on your radar," on Page 6, as well as well as "10 innovative products produced in Maine," on Page 8.) e startup culture is vibrant, with mentorship programs, pitch contests and fi nancing networks. (See resources on Page 43.) is edition of Fact Book: Doing Business in Maine has a heavy emphasis on CEOs. ey talk about why they're based in Maine and why they're investing in their operations here. Here are some of the quotes from CEOs: "We would say that we have progressed from being a small company to a medium-sized company, which is a nice position to be in," says John Stiker, CEO of Stonewall Kitchen, the York-based food manufacturer and retailer. He cites the state's authenticity, which is intertwined with its branding. "It's why we keep manufacturing here," he says. "Maine is not neces- sarily the lowest-cost state to operate in, but it's an important part of who we are." (See Page 50.) Aaron Moser, second-generation CEO of Thos. Moser Handmade American Furniture, points to Maine's "maker" culture, of which founder omas Moser was a modern pioneer. e state has also sharpened the company's innovative side: "We have customers who enjoy Moser. We're feisty. We're entrepreneur- ial. We're hungry," says Aaron Moser. (Page 64.) John Hafford, CEO of Designlab, a graphic design fi rm, chose as its base Millinocket, which is making the transition from a paper mill town to a broader range of industries. Broadband has made it possible to work anywhere. "We are a case study in how broadband can enable entrepreneurs and their families to locate in far fl ung corners of Maine," he says. (Page 10.) Melissa Smith, president and CEO of WEX Inc., a pub- licly traded company that provides corporate payment solutions, is overseeing the company's expansion, which includes a new headquarters building in Portland. "Maine is full of industrious, innovative and caring people. Maine is also a wonderful place to live and to raise a family. We have easy access to the outdoors and world-class culinary and cultural amenities. All of that makes it a great place to attract a highly skilled workforce," she says. (Page 24.) Curtis Simard, president and CEO of Bar Harbor Bank & Trust, says many people return to Maine after getting experience elsewhere. "While terms like 'from away' continue to exist, we have realized the need to grow in order to attract additional talent. Many of us have experienced bigger markets and now want to build businesses and reverse the more challenging growth trends in much of northern New England." (Page 46.) P V A , Mainebiz editor, can be reached at @ . and @ME Maine has a storied past, innovative future B y P e T e r V a n a l l e n Maine fact sheet Demographics Population 2015: 1.3 million State Capital: Augusta Largest City: Portland Land Area: 33,215 square miles/86,027 sq. km Length of coastline: 3,500 miles/ 5,633 km Lakes and ponds: 6,000 Forest: 17 million acres/6.9 million hec (90% forest) Location: Northeast USA, bordering Canadian provinces of New Brunswick and Quebec Same-day access to: Boston, New York, Montreal Economy GDP 2016: $59.3 billion Per capita income GDP 2016: $28,052 Annual Real GDP Growth 2016: 1.1% State budget, 2018–19: $7.1 billion Exports Maine 2016: $2.875 billion Imports via Maine 2016: $3.35 billion Transportation Interstate highways: 2 Deep-water ports: 3 International airports – scheduled service: 2 Airports with customs service: 10 Rail: 1,400 miles/2,253 km International rail facility: 1 Foreign Trade Zones: 5 Key Sectors Aerospace & Advanced Materials Environmental Technology Food, Beverage & Agricultural Products Hospitality & Tourism Information Technology Life Sciences Marine Construction & Technology Pulp, Paper & Wood Products Renewable Energy S O U R C E : Invest in Maine, U.S. Census, Maine.gov P H O T O / T I M G R E E N WAY P H O T O / C O U R T E S Y M A I N E A Q UA V E N T U S P H O T O / C O U R T E S Y F RO N T S T R E E T S H I P YA R D A Hussey Seating employee manufactures a portable chair at the company's North Berwick factory. A carbon-fi ber ferry built by Brødrene Aa, a Norwegian shipyard, in partnership with Front Street Shipyard in Belfast. A worker at Cianbro's Brewer facility checks on a prototype offshore wind platform. Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, Maine is full of industrious, innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. innovative and caring people. Maine is also a wonderful place to live and to raise a family. We have easy access to the outdoors and world-class culinary and cultural amenities. All of that makes it a great place to attract a highly skilled workforce. — Melissa Smith President and CEO of WEX Inc.