Mainebiz

V O L . X X I V N O. X V I I A U G U S T 6 , 2 0 1 8 6 Multiple offers drive up home prices Maine Association of Realtors reported that 1,937 single-family existing homes were sold statewide in June, a 2.54% increase over June 2017. Home values posted double- digit gains, with a 10.98% jump in the median sales price to $227,500. e median sales price indicates that half of the homes were sold for more and half sold for less. "It's been a strong year for much of Maine and inven- tory is moving quickly," says Kim Gleason, 2018 president of the Maine Association of Realtors and owner of McAllister Real Estate in Hallowell. "e number of sales during the first six months of 2018 are nearly 2% ahead of the first six months of 2017, which was Maine's best ever. In some areas of Maine, the markets are tight — multiple offers are prevalent and prices show upward pressure." N O T E W O R T H Y S T A T E W I D E The Northern Border Regional Commission awarded a total of $2.9 million to address eight infrastructure projects throughout Aroostook, Somerset, and Knox counties. Recipients included town of Washburn, Presque Isle Utilities District and town of Hartland, $500,000 each; Mapleton Sewer District, $340,000; Madison Electric Works, $310,000; and Southern Aroostook Development Corp., town of Rockport and town of Thomaston, $250,000 each. B U S I N E S S M A I N E Business news from around the state S T A T E W I D E THERE IS A DIFFERENCE Because Construction Management Design/Build General Contracting Engineering Sheridan Construction www.sheridancorp.com Fairfield Portland 207-453-9311 207-774-6138 Bear's Den, UMO Next governor urged to invest $100M in Maine broadband B y P e t e r V a n A l l e n Maine will need to invest $100 million to upgrade the state's broadband, according to a report that's based on a survey of 1,000 business leaders. "Making Maine Work: Critical Investments for the Maine Economy," a report that offers Maine's next governor a road- map of priorities in tackling the economy, says high-speed internet is critical to attracting businesses and workers and in making the state more competitive. "Broadband is the interstate highway system of the 21st century. We need more state investment to stimulate public- private investment," said Yellow Light Breen, president of the Maine Development Foundation. Breen presented the findings at a press conference along with Dana Connors, president of the Maine State Chamber of Commerce, and Ed Cervone, executive director of Educate Maine. The three groups collaborated on the report. The press conference was held in Yarmouth at Tyler Technologies (NYSE: TYL), which has 750 Maine employees and plans to add more than 55 employees this year. Funding for the report was provided by Bangor Savings Bank, Central Maine Power Co. and Hannaford Supermarkets. "Making Maine Work" makes 16 recommendations around pressing economic issues. It lays out an economic agenda for Maine's next governor. Shawn Moody, a Republican and founder of Moody's Collision Centers, will face Attorney General Janet Mills, a Democrat, as well independent candidates, on Nov. 6. "It's a call to action," Connors said at the press confer- ence. They urged the next governor to come up with a com- prehensive economic strategy. The survey was last done prior to the 2010 governor's race. Then, as now, the cost of health insurance topped the list. But the shortage of professional workers and the need for high-speed internet have subsequently grown in priority, the leaders said. Issues like energy costs and state regula- tions were concerns among businesses surveyed, but were not top priorities. The group's recommendation to invest $100 million in broadband is based on a five-year expansion plan, which would upgrade infrastructure while also providing digital education. To this point, Maine's broadband infrastructure has been built with $80 million in investment from the fed- eral Connect America Fund, as well as substantial public and private investment, Breen said. Key recommendations Recommendations from "Making Maine Work" are focused on workforce development, broadband infrastructure and controlling health care costs. They include: Marketing Maine as a career destination, much the way it does as a vacation destination Providing college tuition incentives and debt-forgiveness Engage people who have been out of the workforce Attract Maine's "fair share" of immigrants to bolster the workforce Develop a more skilled workforce, aim- ing for 60% of workers to have a degree or professional certifica- tion by 2025 Increase digital literacy and digital "equity" Reduce "cost-shifting to private health insur- ance carriers." The recommendations take into account Maine's chang- ing demographics — its aging workforce and a shortage of young workers. Maine is one of only two states, along with West Virginia, where there were more deaths than births in 2016-17. Seniors are expected to make up one out of every three workers by 2032, according to the report. B R I E F P H O T O / P E T E R VA N A L L E N Yellow Light Breen, president of the Maine Development Foundation, presents the findings of the "Making Maine Work" report. At far left, is Ed Cervone, executive director of Educate Maine, and, at right, Dana Connors, president of the Maine State Chamber of Commerce.

• Cover