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V O L . X X I X N O. X X V O C T O B E R 3 0 , 2 0 2 3 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E development of a novel drug to allevi- ate nerve pain in more than half of HIV patients. Gulf of Maine Ventures, the entrepre- neurship and innovation arm of the Gulf of Maine Research Institute in Portland, in partnership with the Roux Institute at Northeastern University, launched a first-of-its-kind, 16-week accelerator program for early-stage companies focused on leveraging arti- ficial intelligence in their ocean-based solutions. The Blue w(AI)ve program aims to help companies by providing a dedicated AI consulting team valued at up to $25,000, access to industry ex- perts, and mentorship from early-stage venture capitalist investors that can collectively help guide their businesses to investment readiness and scale. Arts and culture boost Waterville Waterville's arts and cultural nonprof- its generated $13.5 million in economic activity last year — more than double the amount in 2015 — according to a study by a Washington, D.C., advocacy group, Americans for the Arts. e economic activity during 2022 consisted of $9.7 million in spending by nonprofit arts and cultural organizations and $3.9 million in event-related spending by audiences. e spending supported 174 jobs and generated $2.4 million in local, state and federal government revenue, according to the Arts & Economic Prosperity 6 study. When the study was last conducted, it found the city's arts and cultural nonprofits generated $6.3 million in economic activity during 2015. Learn More | As a business leader, you know that the hardest climb isn't Denali or even Everest. It's the life-long leadership journey. But you don't have to go it alone. You can travel with an experienced guide who knows the lay of the land, and an elite team of peers who has your back. At Vistage, we call this living a "Life of Climb," and it's about showing up every day ready to be better and go further in your life. Vistage peer advisory groups represent a diverse community of industry leaders who are humble yet driven. Within each group, leaders have an opportunity to share expertise, challenge one another to think critically, and ultimately arrive at better decisions. Find out how some CEOs go further and higher. Contact Vistage Chair, George Casey 207-869-5491 | george.casey@vistagechair.com | vistage.com/chairs/george.casey B I Z M O N E Y Cruise ship visitors are a common sight in October, but impact on economy still debated B y P e t e r V a n A l l e n E very October, the streets of Bar Harbor and Portland's Old Port neighborhood teems with cruise ship passengers, up to 5,000 on a given day. At least in Portland, near the Mainebiz offices, there's a month or more where we see people strolling along Commercial Street, stopping into shops and patronizing some restaurants. Holy Donut seems to be a particular favorite, with a line out the door of the Commercial Street location. Maine's cruise ship season is now at its peak, with thou- sands of passengers coming ashore at Portland, Bar Harbor, Eastport and Rockland. But the debate over the economic value of cruise ship visits continues. In recent years, both Portland and Bar Harbor have grap- pled with the trade-offs of visits from the giant vessels. In November 2022, in separate ballot initiatives, Bar Harbor voted to put limits on cruise ship visits, while Portland voters said they should have no limitations. Critics have said the ships bring traffic congestion and pollution, while supporters tout the benefit of shoulder- season revenue. This fall, cruise ships are bigger than ever, and it's clear that opinions about their impact remain divided. In a recent poll, Mainebiz sought the opinion of readers. In a poll published Oct. 16, we asked, "Does your business benefit from cruise ship visits?" In the comments section for the recent poll, one reader wrote: "Why would you want to limit tourism? They are on a cruise this year but next year they may come back for several days to visit, this helps restaurants, hotels, shops. Hello folks — don't say no to them." P H O T O / P E T E R VA N A L L E N The cruise ship Insignia docked at the Maine State Pier in October. C E N T R A L & W E S T E R N DOES YOUR BUSINESS BENEFIT FROM CRUISE SHIP VISITS? 2022 2023 2022 2023 2022 2023 2022 2023 56% 53% 17% 21% 15% 18% 13% 9% Not directly, but cruise ship visits help the state economy Cruise ships bring customers and revenue No, the visits don't help my business There's no real benefit and the visits should be limited more strictly S O U R C E : Mainebiz Flash Poll