Mainebiz

V O L . X X V I N O. X X V I I N OV E M B E R 1 6 , 2 0 2 0 6 Bar, indoor tasting room openings delayed again Indoor opening for bars and tasting rooms, set for Nov. 1 after being postponed twice already, has been put off indefinitely, to slow the spread of the state's rising COVID- 19 caseload. Indoor gathering limits were reduced to a maximum of 50, and New York, New Jersey and Connecticut came off the list of states exempt from testing and quarantines for residents entering Maine, following Gov. Janet Mills' move. Small business innovation pandemic survival key A Maine Center for Business and Economic Research study and University of Southern Maine Business School small businesses survey found that Maine small businesses that are innovative are better positioned to succeed through the pandemic. Richard Arend, a professor of strategic management at USM, oversaw the business survey, and Ryan Wallace, director of the Maine Center for Business and Economic Research at USM, did a study of trends related to the pandemic. ey dis- cussed their findings at a webi- nar hosted by the Small Business Development Centers. Jackson, Libby, Vittelli get Maine Senate Democrat nod Maine Senate's Democratic cau- cus unanimously picked Sen. Troy Jackson, D-Allagash, Sen. Nate Libby, D-Lewiston, and Sen. Eloise Vitelli, D-Arrowsic, to serve in leadership roles for the 130th Maine Legislature, which begins in January. Democrats remain the majority in the state Senate after the Nov. 3 elec- tion. An official leadership vote will be taken by the entire Senate on Dec. 2, when the Legislature convenes for swearing-in day. Northeast agriculture gained; Maine's declined, report says Agriculture, commercial fishing and forest product industries have a growing economic impact and are responsible for an increasing number of jobs across eight Northeast states, according to a report from Enfield, Conn.-based Farm Credit East, the region's largest agricultural lender. Maine, though, has declined in nearly all of the economic measures. e report found that 75,657 farms and related businesses throughout the Northeast used 11.5 million acres to produce $103.6 billion in economic activity supporting 521,284 jobs on and off the farm. e industries in Maine generated $11.7 billion in eco- nomic activity and supported 74,523 jobs. In a 2015 report, Maine gener- ated $13.9 billion and supported 79,011 jobs. Maine Preservation names 2020 Honor Award winners Yarmouth-based Maine Preservation named its 2020 Honor Award win- ners Nov. 9. e awards celebrate outstanding examples of historic preservation and revitalization statewide. Winners this year are Maine Steeples Fund; St. John's Catholic Church, Bangor; Harvey Block/Morris Povich Building, Bath; Medanick Building, Bath; Brooklin Odd Fellows Hall; Boody- Johnson House, Brunswick; Central and Erskine buildings, Stevens 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 B R I E F A Kennebec Valley business park pays off its debt service B y M a u r e e n M i l l i k e n O a k l a n d — FirstPark Commerce & Technology Center made its final bond payment of $256,722 to the Maine Municipal Bond Bank, "paying off the mortgage" on the 285-acre business park. FirstPark started with a meeting of Augusta and Waterville- area business leaders at Thomas College, and was capped with a planning lunch in New York City at the Windows on the World at the World Trade Center in late 2000. The payment marks the end of the 20-year $3.5 million loan. In all, 24 Maine municipalities collaborated on building the business park as a future source of tax revenue and a way to create jobs.The park is overseen by the Kennebec Regional Development Authority. "This an exciting and historic day in FirstPark's history," said Jim Dinkle, FirstPark executive director. "The one-of-a-kind partnership that created the idea for the business park 20 years ago was really forward think- ing. Simply put, if more businesses or corporations buy and develop land at FirstPark, the communities that have invested in the park will see more money coming to their community." Terry Hayes, executive director of the bond bank, said, "It may be awhile before we have the personal experience of paying off our mortgage, but essentially that's what this equates to." Since Dinkle was hired in November 2017, the park has been more aggressive with marketing and other initiatives. Earlier this year, FirstPark hired SVN | The Urbanek Group Advisors as the official commercial and industrial real estate broker for the business park. The 12 undeveloped lots on the 22-lot campus are listed at $15,000 an acre. Dinkle told Mainebiz in September that one effect still being felt from the recession is the lack of spec construc- tion. He said a high absorption rate for industrial buildings, driven in part by the burgeoning cannabis industry in the area, makes lack of that type of building in the area an issue. There's a definite need, he feels. "If they built them, they would be sold. They will come," he said. T-Mobile is the anchor tenant, established at the park in 2005, and has the largest structure in the park. The 80,000-square-foot building and its 26 acres was sold earlier this year to Portland commercial real estate firm J.B. Brown & Sons for $10.7 million. T-Mobile's lease expires in 2027. Other businesses that own property at the business park include Bioenergetic Healing, Gateway Financial Partners, Northern Light Podiatry, L.L.Bean, MaineGeneral, Maine Medical Partners, Maine Eye Doctors, One River CPAs, Waterville Community Dental Center and SurgiCare. The park is on the Waterville-Oakland line, and next to Exit 127 of Interstate 295. Real estate options include high-speed fiber and pre-permitted sites that have the park poised for growth in the next three years. In the year ahead, the park is expected to make more investments, including increased marketing, exploration of residential options and creating a community dog park, all designed to attract more interest in the campus. There's also the possibility for residential development. This an exciting and historic day in FirstPark's history. — Jim Dinkle FirstPark executive director FirstPark started with a meeting of Augusta and Waterville-area business leaders at Thomas College, and was capped with a planning lunch in New York City at the Windows on the World at the World Trade Center in late 2000. The college recently made the last payment on a 20-year, $3.5 million loan. P H O T O / M A U R E E N M I L L I K E N

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