Mainebiz

W W W. M A I N E B I Z . B I Z 21 JA N UA R Y 8 , 2 0 2 4 F O C U S E C O N O M I C F O R E C A S T of business incentives and locations for incoming or new companies and, as with all industries, lack of affordable housing. "I am cautiously optimistic," Shehata says, thanks to developments such as this year's first Maine Space Conference, and advancing plans for a Maine Space Complex by the new quasi-independent state entity, the Maine Space Corp. Two years ago, "ere were a lot of naysayers who didn't believe Maine had the capability or the capacity to become involved in space activities," he says. Attitudes are changing as awareness builds of what Maine has to offer. "e turning point was the space conference," he says. "When we went into the conference, I was little con- cerned that we would not get enough people — 'Why would I go to Maine to attend a space conference?'" His concern was unnecessary. e event attracted over 315 attendees. "Ultimately, we heard they were surprised that Maine has that capac- ity and is committed," Shehata says. "We've received a lot of calls from companies interested in knowing what Maine has to offer." He adds, "Hopefully by the next conference, in October 2024, we'll have a better handle on where we are." B O AT B U I L D I N G Higher interest rates slow new boat orders slightly B y L a u r i e S c h r e i b e r I n 2022, Hinckley Yachts saw record orders, retrofits and new builds, the launch of its first luxury hybrid model — but also a squeezed labor market. Based in Southwest Harbor, with locations in Trenton and along the East Coast, the high-end builder's produc- tion trends through 2023 remained strong, with greater demand for its larger models — the Picnic Boat 40, Talaria 43, Talaria 48 and Talaria 57 — as compared with its smaller products. Higher interest rates affected new- boat orders slightly, says Scott Bryant, vice president of sales and marketing. But a two-year backlog of orders was the larger contributor to slower new-boat sales. Consequently, demand was strong for pre-owned Hinckleys, with associ- ated refurbishment and personaliza- tion. Demand for pre-owned Hinckleys throughout the service network was strong in 2023. For the coming year, "2024 will be similar to 2023 with slightly higher demand for new boats as interest rates begin to change," Bryant says. Interest in the company's hybrid models is strong. Still, he adds, "All-electric boating will remain niche due to range and tech- nology limitations." With 240 employees in Maine and about 700 all together, a goal is to expand the workforce. In 2022, the company launched the Hinckley Yachts Student Loan Assistance Program, in conjunction with the Landing School in Arundel and other trade schools. Hinckley reimburses students over the course of the first two years of employment. e program is still in an early stage but has so far resulted in employing one or two Landing School alums, with more expected. "I see these types of programs being more effective over the next year as we create more training partnerships with regional trades schools," says Bryant. C O N T I N U E D O N F O L L OW I N G PA G E » P ROV I D E D P H O T O Scott Bryant of Hinckley Yachts says higher interest rates affected new-boat orders slightly, but trends are strong. We've received a lot of calls from companies interested in knowing what Maine has to offer. — Terry Shehata Maine Space Corp.

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