Issue link: https://nebusinessmedia.uberflip.com/i/1500897
W W W. M A I N E B I Z . B I Z 19 J U N E 1 2 , 2 0 2 3 L E W I S T O N / A U B U R N / W E S T E R N M A I N E Privately held New Balance dates to 1906, and was acquired by Jim and Anne Davis in 1972, at the dawn of the major run- ning boom in the United States. e brand has always been prominent at the Boston Marathon and other major sporting events. e Davises bought the Skowhegan factory in 1981, and expanded to Norridgewock and Norway. New Balance has the three Maine manufacturing sites, as well as two in Massachusetts, includ- ing a Methuen site that opened last year. It has 1,300 U.S. workers out of 8,000 total. (It also has a United Kingdom factory.) U.S. workers prepare, cut, and mold athletic shoe materials and compo- nents and then sew, press, and assemble them into the final product. New Balance is the only major athletic shoe manufacturer that has maintained factories in the United States. It's so-called "MADE" foot- wear that is produced in the U.S. contains a "domestic value of 70% or more," New Balance said, "and makes up a limited portion of New Balance's U.S. sales." Your goals. Your vision. Your success. Our focus. At Dentons, we are here to help you grow, protect, operate and finance your organization. Local. National. Global. Wherever you need us. dentons.com © 2023 Dentons. Dentons is a global legal practice providing client services worldwide through its member firms and affiliates. Please see dentons.com for Legal Notices. Grow | Protect | Operate | Finance Hannah King Partner Andrew Helman Portland Office Managing Partner Malina Dumas Senior Managing Associate Kate Drabecki Shareholder Kyle Smith Associate C O N T I N U E D O N F O L L OW I N G PA G E » F O C U S At the groundbreaking, state and federal officials joined New Balance executives in breaking ground on the new factory space. P H O T O / DAV I D B AT E S