Mainebiz

W W W. M A I N E B I Z . B I Z 7 J U LY 8 , 2 0 1 9 13 Maine airports will share in $6.3M e Federal Aviation Administration will award 13 Maine airports a total of over $6.3 million for making infra- structure improvements, the agency said in a news release. e funding is part of the $495 million awarded nationwide in the second round of grants made by the FAA Airport Improvement Program. In Maine, Bangor International Airport will receive the largest share of the fund- ing — an estimated $1.4 million to renovate a taxiway. Northern Maine Regional Airport at Presque Isle is slated to get $950,000 to acquire snow removal equipment. Income rises for Mainers Average personal income in Maine rose 5.4% during the first quarter of 2019 — the third-largest gain in the U.S., according to federal data. e Bureau of Economic Analysis said only West Virginia, at 5.6%, and Arizona, at 5.5%, had higher jumps in personal income during the first three months of the year. Maine's jump was also higher than its growth during the last quarter of 2018, when aver- age personal income inched up 1.3%. Health care and social assistance were the leading contributors to the most recent increase in Maine, accord- ing to the bureau. Vermont and New Hampshire also recorded significant income growth, at 4.5% and 3.8% respectively. Income growth rates in the other New England states were below the national average of 3.4%. Personal income increased in every state except South Dakota, where the average fell 0.6%. Maine gets older Maine, whose residents on average are already the oldest in the country, is getting even older. And the state is outpacing others in its aging. While the median age of U.S. residents increased from 37.2 to 38.2 between 2010 and 2018, the Maine median age went from 42.7 to 44.9, according to data released by the U.S. Census Bureau. Of an estimated 1,338,404 Maine residents in 2018, 701,572 were at least 45 and 309,418 were 65 or older. Maine's aging demographic has received much attention from busi- ness and the media in recent years, as deaths have outnumbered births and the number of new residents has grown only S T A T E W I D E 'Small towns, big boxes' — Maine's introduction to mass retailing A trend story from the March 20, 2000, issue of Mainebiz cast a wary eye on the proliferation of big-box retailers. "The arrival of 'power retailers' like Walmart and Target has irre- vocably changed the aesthetic and economic landscape of Maine retailing. Does the next decade promise more of the same?" Indeed it has meant more of the same, but we could debate outcome not mention the "aesthetic." Wal-Mart Stores Inc./Sam's Club is Maine's third- largest employer (behind MaineHealth and Hannaford), with more than 6,500 employees at 20 stores from Sanford to Houlton. At the same time, there's been a shakeout of specialty big-box retailers, such as Best Buy and Toys R Us. And small retailers seems to be having a resurgence on many Main Streets in Maine — an indication consumers want local options and discounts. SP ONSORED BY FUN FACT Mainebiz issues from 2000 had what seems today like a large number of ads for luxury cars and even opportunities to charter a plane. The economy was strong, best known for the Dot-com boom, though it's not clear how much Maine benefited from that. Infinity, Mercedes, Land Rover, BMW and Volvo dealers all advertised prominently. South Portland | Augusta Enjoy the personal service of a regional firm with the depth of experience of a national firm. With Wipfli, you gain the valuable insights and support you need to achieve your goals. Go Beyond the Ordinary at wipfli.com/maine LOCAL ROOTS. GLOBAL REACH. • Tax, audit and accounting • Cybersecurity and risk advisory • Business advisory solutions • Technology software solutions

• Cover