Mainebiz

V O L . X X X I N O. I JA N UA R Y 1 3 , 2 0 2 5 20 E C O N O M I C F O R E C A S T F O C U S continues building its 42 studio, one- bedroom, and two-bedroom apartments. e Margaret Chase Smith School and the Hight Family Early Learning Center, a $80 million school funded by the state and federal government and a $3 million private fundraising cam- paign, are under construction and due to be ready for the fall of 2025. ey will serve children from six weeks old to fifth grade. Maine Grains will start constructing its new facility, furthering Skowhegan's agri-food hub movement. Main Street Skowhegan turns 20 years old. Construction will begin on the first river wave feature on the Skowhegan Park River as well as the River Promenade this summer. Hight believes that Skowhegan will continue to grow in 2025 and prove that it is the "best community to live, work and play." "It's always sunny in Skowhegan," says Hight. "e collaboration between the town, Main Street Skowhegan, the Chamber of Commerce and the businesses and people who care will remain the reason for the growth and success in the area. We will focus on education, housing, the economy, our businesses and our people to help the rising tide to lift all boats." C H A M B E R O F C O M M E R C E Chamber looks to work out the wrinkles in paid- leave law B y P e t e r V a n A l l e n O ne of the biggest issues in the Maine Legislature has been the paid-leave law, which went into effect on Jan. 1. Employers are now required to make payroll contributions that go into a pool for wage replacement. But, while the law has gone into effect, Patrick Woodcock, presi- dent and CEO of the Maine State Chamber of Commerce, says the system will still be modified. "It could still be retooled," he says. In particular, he'd like to see the language of the law clarified so busi- nesses better understand the process. He is also urging the Legislature to close a loophole that could be exploited. "Benefits should be taxed," so that companies can use the payroll contributions as a tax shelter. While 12 states have similar laws in effect, Woodcock says Rhode Island's model might be the closest comparable for Maine and its economy. » C O N T I N U E D F RO M P R E V I O U S PA G E The best choice for your business banking just got easier. Daryl Wentworth SVP, Director Middle Market Banking dwentworth@barharbor.bank 207-771-1216 We can make it happen. Together. Joe Delano SVP Relationship Manager jdelano@barharbor.bank 207-771-1217 Our Portland-based commercial team can help your business grow. • Loans up to $50 million with flexible terms • Competitive rates tailored to your business needs • Small business and corporate cash management • High-volume transaction tools with leading technology • Personalized service of local banking experts Christopher Rugullies SVP Relationship Manager crugullies@barharbor.bank 207-601-5718 Suzanne Moffatt, AFIM, CRSP SVP Senior Wealth Manager smoffatt@barharbor.bank 207-947-4880 Alicia Napolitano, AAP, NCP, CTP VP Senior Treasury Sales Officer anapolitano@barharbor.bank 207-756-2352 All loans subject to credit approval. Additional terms, fees, and conditions may apply for some products. Bar Harbor Wealth Management is a subsidiary of Bar Harbor Bank & Trust. Investment products are not deposits or obligations of the Bank, are not FDIC insured, are not guaranteed by the Bank and are subject to investment risk, including possible loss of value or principal amount invested. Member FDIC www.barharbor.bank • 888-853-7100 Over 50 locations across northern New England Proud to be named one of Forbes' World's Best Banks again Patrick Woodcock, president and CEO of the Maine State Chamber of Commerce, says Maine's paid leave law, which went into effect on Jan. 1, is still being modified. F I L E P H O T O It starts on the policy side. The legislature and local municipalities need to balance zoning and make it easier to get housing built. — Patrick Woodcock Maine State Chamber of Commerce

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