Mainebiz

V O L . X X I X N O. V M A R C H 6 , 2 0 2 3 6 Home sales slow, but prices stay steady Sales of single-family homes in Maine continue to be affected by rising mort- gage interest rates and a smaller num- ber of available homes for sale. Maine Listings said that sales of single-family homes declined by 34.99% in January, compared to January 2022, with higher interest rates and lack of inventory being factors. Higher interest rates and lack of inventory have slowed home sales. Yet the median sales price for homes sold in January was $325,000, an increase of 11.21% from $292,250 a year ago and right on par with the prior month. e median home price peaked in June 2022 at $360,825, and has come down since, but not at the same rate as the sales numbers. "e sales numbers for January are impacted by the scarce for-sale inventory, recent upward adjustments to mortgage interest rates, and the end of year holiday season," said Carmen McPhail, president of the Maine Association of Realtors. Offshore wind could be a 'windfall' for economy A new report from the Mill Administration says 80 Maine com- panies are engaging in the U.S. off- shore wind industry. And the industry could generate more than $100 billion in private investment by 2030. e Governor's Energy Office released the Maine Offshore Wind Roadmap, a stakeholder-driven comprehensive plan that offers detailed strategies for Maine to realize economic, energy and climate benefits from offshore wind, in conjunction with communities, fisheries and wildlife around the Gulf of Maine. e release of the roadmap comes after the federal Bureau of Ocean Energy Management advanced an application by the state to lease a proposed site in federal waters in the Gulf of Maine for a floating offshore wind research array. N O T E W O R T H Y S T A T E W I D E Gov. Mills recognized the Maine Masonic Foundation, HM Payson and Franklin Savings Bank for donat- ing a total of $30,000 to the Maine Veterans' Dental Network. UScellular announced that it made a $36.8 million investment in its Maine network in 2022 and provided an 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 Jonesport aquaculture operation gets a step closer to opening B y B r i d g e t R e e d M o r a w s k i K ingfish Maine has secured loan insurance financing from a state agency for a $110 million land-based aquaculture facility in Jonesport that recently received its final permit. The wholly-owned subsidiary of a Dutch aquaculture com- pany, Kingfish Maine was approved for 90% pro rata loan insurance by the board of the Finance Authority of Maine, or FAME, a quasi-independent provider of innovative financial solutions. The board made the decision to insure a $2 mil- lion loan issued by Machias Savings Bank. "FAME's Commercial Loan Insurance Program insures a portion of a loan to a business made by a participating financial institution or investment firm," the agency said. "For a business, it may mean the difference between obtaining a loan or never getting the opportunity to start a business." FAME "understands the importance of the Kingfish Maine project to Jonesport and the Downeast region, providing quality and good paying jobs to the area," said Megan Sorby, Kingfish Maine's operations manager. "We are excited that FAME has provided its seal of approval for the loan insurance that will enable finalizing the preparation of the development of the Jonesport facility." Like other subsidiaries of parent company, the Kingfish Company NV, Kingfish Maine plans to use "vertically inte- grated, advanced recirculating aquaculture systems" to raise roughly 8,000 metric tons of yellowtail kingfish to create what it calls a high-grade sashimi. Serious Eats has previously reported that terms like "sashimi-grade" and "sushi-grade" are marketing terms with "little significance [with respect] to actually being able to consume raw fish." In July 2022, Jonesport voters rejected a 180-day mora- torium on aquaculture developments like the Kingfish Maine project. The proposed ordinance stemmed from concern the Kingfish development would harm the town's natural envi- ronment, restrict traditional coastal water uses and pose a local health risk. The local planning board of Jonesport — reportedly the company's preferred U.S. location — provided final approval of the company's building permit application in December 2022. Groundwork is expected to begin in 2023. All other local, state and federal authorizations have been granted. The planned facility intends to hire up to 100 work- ers during a phased build-out, although up to 10 full-time jobs at the site are expected once operational. [FAME] understands the importance of the Kingfish Maine project to Jonesport and the Downeast region, providing quality and good paying jobs to the area. — Megan Sorby Kingfish Maine Seen here is a rendering of Kingfish Maine's proposed land-based aquaculture facility in Jonesport. R E N D E R / C O U R T E S Y O F K I N G F I S H M A I N E

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