Mainebiz

W W W. M A I N E B I Z . B I Z 7 J U N E 1 0 , 2 0 1 9 Maine economy sits near bottom in another ranking In a WalletHub ranking of state econ- omies published, Maine ranked No. 42, as low marks on "innovation potential" offset better showings in economic activity and economic health. Besides innovation potential, WalletHub looked at economic activity and economic health. ose were further subdivided into 28 key metrics. Factors used to determine innovation potential include share of jobs in high-tech industry, industry investment in research and development per total civilian employ- ment population and entrepreneurial activity. Maine came in at No. 43 on innovation potential, though some- what better for economic health (No. 36) and for economic activity (No. 38). Washington, Utah and Massachusetts were No. 1, 2 and 3, respectively, on the overall list, while Alaska was dead last. While just No. 4 on this list, California blossomed as the fifth-largest economy in the world in 2017, WalletHub said, with a gross domestic product larger than those of the United Kingdom, France or India. Former Conn. governor to lead UMaine System Former Connecticut Gov. Dannel P. Malloy, a Democrat, will suc- ceed James H. Page as chancel- lor of the University of Maine System. e move follows more than a year of succession plan- ning that included a multi-year "declaration of strategic priori- ties" and a nationwide search for a leader. On July 1, Malloy, 63, will become the UMaine System's 13th chancellor since its formation in 1968. He will be paid an annual salary of $350,000. As governor of Connecticut, Malloy earned $285,000, the Hartford Courant reported. Page, who will retire June 30, earned $277,500, according to UMaine public information. N O T E W O R T H Y S T A T E W I D E Maine Department of Health and Human Services was awarded $2 million for the Maine Center for Disease Control's cancer preven- tion and control programs, U.S. Sens. Susan Collins and Angus King announced. S T A T E W I D E Portland 'submarines' idea for waterfront museum In 2002, a Portland group came up with what it thought was a winning attraction. According to the Mainebiz of Feb. 18 that year, Sub Maine Inc. wanted to repurpose a Russian submarine that most recently been used for a cinematic thriller with Harrison Ford and Liam Neeson, "K19: The Widowmaker," as a museum on the Portland waterfront. The 387-foot sub was retired from the Russian navy and lying in wait in Halifax, N.S. All Sub Maine needed was Coast Guard and city approval. And perhaps money. One city official called the project "an exciting opportunity," but questioned whether the group had the financial backing. Alas, by March, the proposal had been, um, sunk, rejected by Portland City Council. SP ONSORED BY FUN FACT In 1997, the percentage of Mainers with a personal computer was 44%, according to the April 1, 2002, issue of Mainebiz. In just five years, that figure grew to 72%. Go Beyond the Ordinary at wipfli.com/maine South Portland | Augusta What's the key to your long-term growth and success? Top talent and game-changing solutions that meet your most critical needs. GAME-CHANGING SMALL BUSINESS SOLUTIONS • Financial accounting outsourcing • Interim accounting resources • Payroll outsourcing • Technology managed services

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