Mainebiz

V I E W P O I N T S W W W. M A I N E B I Z . B I Z 3 A U G U S T 8 , 2 0 2 2 From the Editor W hile the ongoing pandemic has been an ever- present threat this year, I feel fortunate to have been able to get around the state more in 2022 than either of the two previous years. In the course of going to Mainebiz events or reporting stories, I've spent time in Presque Isle, Bangor, Machias, Milbridge, Brooklin, Lewiston, Auburn, Skowhegan, Madison, Augusta, Belfast, Brunswick, Rockland, Vinalhaven and much of southern Maine (though I also live there). My sense has been that while the Portland area continues to see the lion's share of development, other places are benefitting from the perception at least that Portland has become too expensive or has created too many barriers with regulations. A recent report by Noah Stebbins at the Boulos Co. said Lewiston and Auburn have seen new investment dollars flowing their way as southern Maine locations become harder to develop. As Mainebiz reported recently, Stebbins said Portland's inclusionary zoning provision and stricter rent control measures have frustrated housing devel- opers, "leading to higher price points, fewer buyers, and less affordable residential housing." Mainebiz has reported on development hap- pening in Bangor, Augusta, Skowhegan, Brunswick Landing and L/A, among other places. Part of the investment may be from developers who have been diverted from Portland, but I'd like to think it's also a matter of a rising tide floating all boats. Many areas have been overdue for new development and busi- ness growth. And Maine overall has had an influx of investment in the past two-and-a-half years. Now, where we're headed becomes a bit trickier to see. We've already seen the housing market soften; we still have a housing shortage and prices are high, but the homebuying frenzy of the past couple years is slowing. It remains to be seen how rising interest rates will affect commercial development. Add to that inflation, continued supply chain issues, widespread labor shortages, international con- flict, ongoing political divisions, Maine's gubernatorial race and the picture gets even cloudier. At least for now it's been good to see Maine's eco- nomic growth stretch well beyond Portland. Peter Van Allen pvanallen@mainebiz.biz Featured @ Mainebiz.biz For a daily digest of Maine's top business news, sign up for the Mainebiz Daily Report at mainebiz.biz/enews Get Maine's business news daily at mainebiz.biz and on Twitter (@Mainebiz). Below is our most popular content for the period from July 18 to Aug. 1. 1. Skowhegan's downtown Spinning Mill to have new life 2. YMCA of Southern Maine will close one of its four branches for good 3. Portland mulls proposal for 6-story building on a rare waterfront lot 4. Proximity to Maine Med helps seal expansion of a private health care practice 5. Maine will get $62M to aid small businesses in rural areas, key sectors 6. Investors come from as far as NYC for Portland multifamily showings 7. After blowing the lid off since 2020, gift business Box of Maine expands space nearly fivefold 8. A sprawling Augusta landmark, the Olde Federal Building, goes on the market for $2.65M 9. Engineering firms rev up: Acquisitions, new hires, larger offices and big projects 10. Woodard & Curran to move to larger headquarters in 2023 R E N D E R I N G / C O U R T E S Y O F N OVA C O N C E P T S 1 bernsteinshur.com Be strong. BE SHUR. When it comes to women leaders, we're all in. Our commitment to women starts at the top 1 CEO | 1 COO | 4 Board Members | 6 Practice Group Leaders | 22 Shareholders Mixed signals on where Maine's economy is headed Many areas of Maine have been overdue for new development and business growth.

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