Mainebiz

V O L . X X X I N O. I I JA N UA R Y 2 7 , 2 0 2 5 6 Hampden tops 'Hottest towns' list Hampden, Kennebunkport and Biddeford top the list of "Maine's Hottest Towns of 2024," according to a company that combed through last year's residential real estate sales. e report, compiled by Scarborough- based Maine Life Real Estate, ranks towns (and some cities) with notable increases in unit sales and highlights shifts in market dynamics and changes in median sales prices. After the top three were York, Bridgton, Saco, Wells, Kittery, Harpswell and Windham. e top towns from the past two years — Bethel from 2023 and Rockland in 2022 — were not on this year's list. Economist offers caution on tariffs, new policies Wide-ranging tariffs proposed by President Donald Trump could put a damper on Maine's otherwise "sturdy" economy, Maine State Economist Amanda Rector told a Mainebiz forum on Jan. 15. e incoming president has said he favors tariffs on China, Canada and Mexico, the country's three larg- est trading partners. While limited trade restrictions might be "not that bad," widespread measures may mean "things could be really, really bad," Rector told an audience gathered for the Mainebiz "Five on the Future" conference, held at the DoubleTree by Hilton in South Portland. Rector noted that promised restrictions on immigration could have a "chilling effect" on an already tight workforce, driving up wages and prices. N O T E W O R T H Y S T A T E W I D E U.S. Sen. Susan Collins announced that 12 organizations and state agen- cies in Maine were awarded a total of $22.7 million to support housing assistance to homeless individuals and families, as well as those flee- ing domestic violence, sexual as- sault and stalking. The funding was provided through the U.S. Department of Housing and Urban Development's Continuum of Care Program. Versant Power said it invested more than $700,000 in communities throughout northern and eastern Maine in 2024. B U S I N E S S M A I N E Business news from around the state S T A T E W I D E A Penobscot County farm ships a range of meats, pies and soups B y J o h n O ' M e a r a H eartstone Farm comprises 500 acres in Charleston, a community in Penobscot County with a long history steeped in agriculture. At first, Dan Kaplan, founder of the farm, wanted to be able to raise grass-fed cattle and provide high quality beef to his customers. Now, the operation is filling over 750 orders a week and grossed roughly $6 million in revenue last year. "It's become more than a farm," says Kaplan. Maine consumers may be familiar with operations that deliver steaks or other meats straight to the doorstop. Butcher Box and Good Chop are some of the better known companies that provide this service. Now Heartstone Farm, a Maine-based version of those retailers, is in the throes of expansion, adding a range of new products. Heartstone started by offering beef products but expanded by offering poultry, pork and an assortment of pies and soups. Customers are from New England and as far away as Ohio and Virginia. "My customers asked for more products," says Kaplan, a serial entrepreneur and former media executive. Kaplan's motivation for creating his business is cen- tered on flavor. "It tastes like the beef from when I was a kid," he says. Demand is fueling the success of Kaplan's business. Now that Heartstone Farm has morphed into a business that both raises animals and sources livestock from other farms, an important challenge has emerged — finding the right livestock. "We're not going to be buying commodity products," Kaplan says. Instead, the livestock comes from small farms. Not all the farms are in Maine. About half of the livestock come from Maine and the rest from elsewhere in New England. For example, turkey comes from a family farm in Vermont. Heartstone also pledges to help small farmers. For many Maine livestock producers, getting the product to a consumer who is willing to pay a decent price is the biggest chal- lenge. Heartstone is taking on that challenge. Heartsone pays a premium to the producers. To fuel Heartstone's growth, Kaplan turned to the crowd- funding platform StartEngine. The campaign raised $822,000 from 475 investors, some of whom are Heartstone customers. "It was a really good experience," says Kaplan. SP ONSORED BY P H O T O / C O U R T E S Y O F H E A R T S T O N E FA R M P H O T O / C O U R T E S Y O F H E A R T S T O N E FA R M Dan Kaplan, founder of Heartstone Farm, produces, packages and ships beef directly to customers. Meat products from Heartstone Farm in Charleston, Penobscot County.

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