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W W W. M A I N E B I Z . B I Z 29 O C T O B E R 4 , 2 0 2 1 ainebiz: They say, 'All politics is local,' but is that also true of economic development? Garvan Donegan: While economic development is hyper local and, often extremely visible, local economic development is also tied to complex systems and associated regions, states, nations, and the global economy. From moment-to-moment we may not know exactly what is occurring in global finance systems, but we can very clearly see our Main Street activity, a city's skyline taking shape and changing or a downtown vacancy [that needs to] be filled. Given this, our motto is always to think region- ally and globally, but act locally. During times of economic uncer- tainty, it's particularly important to act locally and to have a diverse construct of local investments into a downtown or community. is has been true in our mid-Maine communities and, in the case of Waterville's downtown, that local investment has been part- nered by institutional and philan- thropic support that has reduced risk profiles and supported large projects and deeply impactful initiatives. MB: How has mid-Maine taken ad- vantage of its Foreign Trade Zone? GD: Last year, Waterville's FTZ 186 realized a value of over $96 million in shipments to the Maine's U.S. market and a value of almost $4 million in exports, totaling approximately $100 million in shipments flowing through FTZ 186, which has saved resources for companies, increased the velocity of supply chains, grown international trade and [foreign direct investment], and supported approximately 250 Maine-based jobs. MB: What are some of central Maine's biggest opportunities? GD: rough the launch of CMGC's Dirigo Labs, and the associated investment in our innovation eco- system, mid-Maine has an incredible opportunity to organize the regional economy and the tech industry's abil- ity to transition to the post-manu- facturing economy. Dirigo Labs will galvanize mid-Maine's unique diver- sity of academic institutions and tech firms and develop a startup accelerator that harnesses the entrepreneurship and digital skills of our students, grad- uates, academic faculty and business owners to build a sustainable tech and innovation hub that powers a thriving rural economy. Similarly, this initiative aims to recruit rural remote workers to the region and stimulate digital economy jobs. MB: … And the challenges? GD: Both pre COVID-19 and now, CMGC hears every day from small and large businesses about very real workforce challenges across every sector in Maine — every industry has been either experiencing labor chal- lenges or has had to be diligent about workforce development and labor and talent pipeline creation. MB: How do central Maine's schools and colleges factor into economic development? GD: At the secondary level, the Mid-Maine Technical Center offers Information Technology and digital media coursework, and it received national recognition for its success- ful pre-apprenticeship program, a partnership with CMGC which places top students with local employ- ers for on-the-job learning. At the post-secondary level, omas College has developed niches in both busi- ness degrees and cybersecurity, and is the region's only graduate degree- granting institution. e world- class liberal arts institution of Colby College attracts a vibrant community of students, faculty and alumni and has recently started investing heav- ily in the revitalization of downtown Waterville. As a result of this, the city of Waterville is experiencing a dra- matic transformation. P e t e r Va n A l l e n , M a i n e b i z e d i to r, c a n be r e a ch e d a t p vanal l e n @ mainebiz.biz and @ MainebizEditor Kennebec Savings Bank was established in 1870 to help every member of our community save, thrive and grow. Serving the Maine banking community for over 150 years. Visit www.KennebecSavings.Bank to view a complete list of our residential and commercial products. From moment- to-moment we may not know exactly what is occurring in global finance systems, but we can very clearly see our Main Street activity.

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