Issue link: https://nebusinessmedia.uberflip.com/i/1500029
V O L . X X I X N O. X I I M AY 2 9 , 2 0 2 3 16 L O C A L LY G ROW N F O C U S grower can sell what they can grow at a pretty reasonable price and, in some cases, very good prices." Early pioneer An earlier wave of farms grew European oysters in the midcoast in the late 1970s. Factors such as disease and susceptibility to Maine's cold winters prevented the species from taking off. In the mid-1980s, McKeen and other farmers experimented with growing American oysters on the Damariscotta River. e river's clean, salty and nutrient- rich water was ideal. And it was home to the University of Maine's Darling Marine Center, which was instrumen- tal in establishing shellfish aquaculture thanks to a research program, established by a resident researcher, Herb Hidu. Hidu encouraged would-be farm- ers to try American oysters, native to the region. ere were no textbooks on how to do it. "We were building our own gear," recalls McKeen. "We'd meet on the weekends and mess around on the river." McKeen and his partners settled on a technique to grow oyster seeds — tiny babies — in cages floating on the surface, then broadcasting them on the bottom when they reached a certain size. After a year, they'd drag up a marketable crop. e first year, they planted 250,000 seeds. Today, they plant about 2 mil- lion seeds per year, selling through wholesale and retail channels. ree years ago, McKeen and his wife opened a restaurant, the Oysteria, in Bristol, featuring Pemaquid Oysters. Pemaquid has three full-time employ- ees plus the three partners. Gear includes a lobsterboat to drag oysters, work skiffs and rafts. From overseas growers, they learned to store market-size oysters in holding cages, attached to rafts closer to the mouth of the river, where the deeper, saltier water optimizes the flavor and appearance. "It doesn't take a huge investment to get into it," says McKeen. "When we started, we kicked up a couple of thousands dollars, went to our local sawmill, bought lumber and started building cages." Helping hands at entrepreneurial spirit drives Lauren Gray, who started Cranberry Oysters off Great Cranberry Island in 2015 with 25,000 seeds. Her husband runs a boat- yard, so she had heavy equipment and waterfront access. Initial sales went to local restau- rants. Sales have doubled each year Helping Hospitality and Tourism Clients GROW AND THRIVE Led by partner and industry veteran Chris Howard, Pierce Atwood attorneys blend their legal expertise with hands-on executive and nancial experience to help address the business challenges facing owners, developers, and operators, such as securing nancing, managing debt, selling or acquiring businesses, workforce management, regulatory compliance, and real estate and leasing decisions. For help growing and developing your hospitality or tourism business, contact Chris Howard for e•ective, practical advice and counsel. Chris can be reached at choward@pierceatwood.com or ... Pierce Atwood. There's a reason… MERRILL'S WHARF • ••• COMMERCIAL STREET • PORTLAND, MAINE †•‡†‡ • PIERCEATWOOD.COM (207) 827-4456 • (800) 648-4202 Bangor • Portland • Portsmouth www.tficapital.com • www.sewall.com TFIC's mid-market inf rastructure activity: Developing the Business of Infrastructure Treadwell Franklin Inf rastructure Capital (TFIC) is an integrated infrastructure busi- ness focused on municipal, institutional and energy inf rastructure and services in New England and the Northeast U.S. TFIC provides development, financing, ownership and management services for inf rastructure assets and businesses. TFIC seeks to return financial and eco- nomic value to states and communities by mobilizing private capital and resources in appropriate contexts, focusing on acces- sible com mercial opportunities that create value and revenues sharable with the public sector. Stephen Jones Partner & President/CEO of TFIC • Transportation & Logistics • Energy, Utilities & Renewable Fuels • Captive, Core & Social Inf rastructure • Services & Technologies » C O N T I N U E D F RO M P R E V I O U S PA G E