Mainebiz

V O L . X X V N O. I JA N UA R Y 7 , 2 0 1 9 20 2 0 1 9 E C O N O M I C O U T L O O K F O C U S Collaboration could pay off for Aroostook's economy B y l a u r i e s C H r e i B e r C hristina Kane-Gibson is the events and market- ing director of the city of Caribou and a 2018 Mainebiz Next honoree. She's optimistic about the outlook for Caribou and Aroostook County, predicting that the region will reinvent its economy through collaboration. "Aroostook County's situation is unique to Maine's overall economy — geographically, workforce chal- lenges, an aging population, infrastructure needs," she says. "It definitely 'takes a village' to overcome. Plus, a little old-fashioned County ingenuity doesn't hurt." She cites numerous economic development initia- tives that blossomed in 2018: An economic summit for local entrepreneurs; designations as a Main Street Network Community through the Maine Development Foundation and an AARP Age-Friendly Community; and a new initiative with New Ventures Maine to offer monthly training sessions for small business owners and start-ups. She predicts these will help attract outside invest- ment and business incubation opportunities for local entrepreneurs. In the long run, those businesses can develop job base and reverse population decline in Maine's most northerly county. "Through these affiliations we are growing part- nerships and creating focus groups to identify lead- ers, strategies and solutions to our development needs," she says. She also cites initiatives like Momentum Aroostook, a network of young professionals and business associ- ates partnering with employers through sponsorships, and Momentum's Leadership Development Series, where successful Maine-based entrepreneurs share stories and advice. "We know that geographic and workforce issues exist, but we aren't afraid to roll up our sleeves and employ different tactics to tackle them," she says. "Sometimes a strategy may work and sometimes it may not, but the effort helps us evolve and add knowledge and tools to our economic development toolbox." The city is also furthering its relationship with the Aroostook Band of Micmacs as the band develops initiatives in agribusiness and cultural tourism among other things. She expects that to continue. WO R K F O R C E D E V E L O P M E N T Workforce resources may increase from new administration B y l a u r i e s C H r e i B e r N ate Wildes is executive director at Live and Work in Maine, a private-sector initiative to raise awareness about Maine as a career destination. Maine has done a sub-par job when it comes to presenting the quality of the full-time Maine experience, he says. He predicts the political shift in Augusta presents an opportunity to help change that culture. And that could mean increased funding and resources to address workforce issues. "We're optimistic that the state will increase the resources available," he says. "We don't know yet what that will look like. But Gov. [ Janet] Mills and her team understand the importance of improving the state's role in workforce attraction and retention. ey know employers can't wait 10 years for a long-term initiative. is is a great opportunity for a fresh start in how Maine presents itself to the world." Now in its third year, Live and Work in Maine was established to build a messaging toolkit for Maine employers to recruit and retain talent. Even if all Maine graduates and retrained adults stayed in Maine, Wildes says, it doesn't solve the workforce problem. "So we also have to work on attracting more people to come here," he says. "at's what we do – essentially raise awareness about the opportunities in Maine." He's optimistic about the prospects for workforce attraction and retention, through promoting success stories of people who live and work in Maine full-time. "ere's a reason people who live here, love Maine," he says. "It can be as simple as speaking louder and prouder about what we've got and tell- ing that story." F I N A N C I A L M A N AG E M E N T Northern Maine financial firm invests in staff and software B y r e n e e C o r d e s A fter taking the helm as CEO of ompson-Hamel LLC in October, Bryan ompson has big plans for the Presque Isle-based financial firm. While he aims to keep the number of employees at 19 in 2019, including three in Bangor, his goal is to add 100 new payroll clients after investing in staff and software in 2018. "Right now we're at 275 payroll clients, so adding another 100 would be a huge increase," he says. Clients range from mom-and-pop shops to larger employers. "at's a pretty ambitious goal for us." ompson says that while there's obviously a bigger market in Bangor, there's "so much of an untapped pay- roll market here in Aroostook County," where most businesses have their payroll done by out-of-state providers such as ADP LLC. As a local player in regular con- tact with clients, ompson-Hamel's payroll team is able to offer personalized service, says ompson. "We get to know what's going on in their lives." ompson-Hamel, founded in 1962 by former potato farmer Arthur ompson, provides services including estate planning, investments and insurance. It got into payroll processing in 2015 when it bought Paterson Payroll in Presque Isle from its owner and opened a Bangor office in November 2016, moving to a 1,600-square-foot space in October 2017 inside a historic downtown building on Exchange Street. e firm's 19 employees include three in Bangor. ompson, a distant cousin of the firm's founder, is now the 100% owner, while former managing part- ner Brian Hamel is now chief operating officer. "We talk to business clients about succes- sion plans and practice what we preach," says ompson, noting that 2018 "was a big year for us to implement that succession plan." ough there are no immediate hiring plans, ompson has made it a priority to bring in younger associates to a multi-generational staff that now ranges in age from 21 to the 84-year-old founder. "I hope he stays for a really long time," Bryan says of Arthur ompson. G OV E R N M E N T P E R S P E C T I V E P H O T O / F R E D F I E L D P H O T O / J I M N E U G E R Bryan Thompson Christina Kane-Gibson

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