Mainebiz

V O L . X X X N O. V I I I A P R I L 1 5 , 2 0 2 4 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 FHC Inc., a provider of advanced electrode positioning, surgery and surgical planning solutions in Bowdoin, launched STarFix Designer, a software tool de- signed to offer neurosurgeons an intuitive and powerful platform to streamline pre-operative planning processes. STARC Systems, a manufacturer of temporary reusable wall systems that's based at Brunswick Landing, said it plans to expand into a newly built, 85,000-square-foot site, also on Brunswick Landing. Priority Real Estate Group will develop the site and lease it to STARC. University Credit Union in Orono and Changing Seasons Federal Credit Union in Hampden said they have arrived at a merger agreement, pending regulatory and membership approval. Crystal Landry, CEO of Penobscot Valley Hospital, said she will step down from that position and will leave the 25-bed health care provider in Lincoln sometime during the next three to six months. Landry took over at a turbulent time, in 2015, and led the hospital through bankruptcy reorganization. U.S. Sens. Susan Collins and Angus King announced that Maine Woods Co. in Portage received $300,000 through the U.S. Department of Energy's Industrial Assessment Center implementa- tion grant program to install an energy efficient steam turbine and warehouse-heating system, allow- ing the lumber manufacturer to lower its overall energy footprint. Bangor Savings Bank reopened its branch at 180 Middle St. in Portland after extensive renovations. MEMBER FDIC EQUAL HOUSING LENDER 1-800-447-4559 | bathsavings.bank Make your vision a reality. Talk to a neighbor. You have a vision to build something meaningful, and we have the experience to help make it happen. Custom lending solutions are here for you — and so are we. Let's talk. Stacey Chenevert Vice President, Mortgage Loan Officer BATH BRANCH - NMLS #1070044 B I Z M O N E Y Housing costs out of reach of many Mainers B y P e t e r V a n A l l e n A repor t from Bankrate says a home- buyer in Maine needs to earn at least $102,557 a year to afford a house valued at the state's median sales price, up from $62,305 in January 2020. The median sales price in Maine was $354,000 in February, an increase of 7.54% from a year earlier, according to Maine Listings. In January 2020, the median home price was $220,900, a jump of 10.45% from the year before. The median home price in Maine has been in the $350,000 range for some time. Even with higher interest rates and other eco- nomic factors, home prices have stayed high because of the lack of inventory. At the same time, Maine salaries have not increased at the same rate as home prices. Maine's median household income was $68,251 for the period from 2018- 22, the most recent data available from the U.S. Census. "The combination of higher home prices and comparatively stagnant incomes is most challenging for first-time homebuyers who have not been able to benefit from the price appreciation of an existing home," Tom Dworetsky, director of research at Camion Associates, told Mainebiz. N O T E W O R T H Y N O R T H E R N & E A S T E R N N O R T H E R N & E A S T E R N N O T E W O R T H Y M I D C O A S T & D O W N E A S T M I D C O A S T & D O W N E A S T

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