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V O L . X X X I N O. I JA N UA R Y 1 3 , 2 0 2 5 14 E C O N O M I C F O R E C A S T F O C U S Demand for cruise visits to Portland, Rockland and Eastport is strong, but the outlook varies based on several factors including sailing times from other cruise ports in the region, certain customs and bor- der protection restrictions and, in Rockland's case, a local ordinance limiting the cruise season. "Portland and Rockland will see comparable cruise visitation to what they saw in 2024, while Eastport will see significant increases next year," Flink says. American Cruise Lines is expanding its presence in Maine with their fleet of small, domestic ships scheduled to visit Bath, Boothbay Harbor, Belfast, Bucksport and Bangor in 2025. Looking ahead, there is potential to expand into Camden and Castine, which have hosted the line in the past. A program called PortShare Promise started in Portland in 2023 with a pilot season, then evolved in 2024 and will continue in 2025, administered by Visit Portland on behalf of the Cruise Portland Maine consortium. Discussions are underway about changes and funding for 2025. A PortShare Promise pilot launched in 2024 in the midcoast, focused on ship visits to Rockland and shoreside visitation to surrounding areas. e program's status for 2025 is unclear, since its admin- istrator, Penobscot Bay Chamber of Commerce, recently closed. "Globally, demand for cruise travel is grow- ing, and the Canada-New England itinerary — of which Maine is a key part — is poised to be part of that growth as much as each community chooses to be," Flink says. "Fall continues to be our stron- gest season, for a mostly retired or semi-retired demographic. However, we are making inroads with younger travelers, including those with children, in the spring and summer." She continues, "Overall, we expect Maine's num- bers to be about the same as 2024, but with a notably different distribution across ports." L I F E S C I E N C E S Life sciences sector growth could outpace other industries B y R e n e e C o r d e s M aine's $2.3 billion life sciences sector, which employed close to 10,000 people in 2024, will outpace the growth of many other industries in 2025, predicts Agnieszka Carpenter, executive director of the Bioscience Association of Maine. "Unlike other sectors that experienced post- COVID declines, the life sciences industry has dem- onstrated resilience and is well-positioned not only to maintain its current momentum but also to expand significantly," she says. Carpenter attributes the growth to several factors, including sustained investments in the technology sec- tor through funding made available by the $25 million research and development bond passed in November, the state's strong commitment to workforce develop- ment, and strategic initiatives designed to foster entre- preneurship and support biotech startups. "ese efforts create a solid foundation for contin- ued innovation and expansion in the sector," she says. To help meet evolving workforce needs, her organi- zation plans to team up with Educate Maine to launch a science-focused apprenticeship program this year. "Designed to align with industry standards, the program will ensure participants acquire the precise technical skills and competencies required for success in the biosciences field," Carpenter says, noting that apprenticeships are structured to lead directly to employment opportunities within the company or industry, providing a clear and rewarding career path. "By introducing this dedicated program, BioME aims to create a strong pipeline of skilled workers to meet the growing demand for talent in Maine's life sciences sector," she notes. And in June, BioME will lead Maine's Pavilion at the BIO International Convention in Boston to showcase the state as "Innovationland," a thriving hub where life science companies and entrepreneurs can innovate and grow, she says. Her bold prediction for this year. "In 2025 BioME and its partners plan to advocate for the creation of a Maine Life Science Hub, a new entity that will bring funding, workforce development and other support services together to support Maine›s life science industry." Establishing a hub would strengthen the state's economy by training a skilled workforce, creating high-paying jobs, attracting additional federal fund- ing and drawing increased private investment into Maine, she says. B A N K S Maine banking chief sees merger momentum staying strong B Y R E N E E C O R D E S F ollowing a pair of high-profile mergers in Maine's banking sector — Gorham Savings joining forces with Maine Community Bank and Camden National snapping up a New Hampshire peer — one expert is predicting more consolidation in 2025. P H O T O / C O U R T E S Y O F C R U I S E M A I N E FI LE PH OTO / WOJC I EC H BEDNAR C ZU K Overall, we expect Maine's numbers to be about the same as 2024, but with a notably different distribution across ports. — Sarah Flink CruiseMaine BioME aims to create a strong pipeline of skilled workers to meet the growing demand for talent in Maine's life sciences sector. — Agnieszka Carpenter Bioscience Association of Maine » C O N T I N U E D F RO M P R E V I O U S PA G E Sarah Flink of CruiseMaine predicts Bar Harbor will see cruise ship visitation slump while demand remains strong in Portland and Rockland and Eastport will see significant increases. Agnieszka Carpenter

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