Mainebiz

V o l . X X I N o. I Ja N ua r y 1 2 , 2 0 1 5 18 Where will Maine see the biggest gains? Rector: e current low oil prices will help put more cash in people's pockets this winter, which will lead to increased spending in other areas. If gasoline prices stay low through the summer, we could see a very strong tourism season. Continued expansion of the International Marine Terminal in Portland will provide further opportunities for foreign trade, especially building on the relationships the LePage administration has helped to develop with Iceland and the North Atlantic region. Lawton: Geographically, in the urban centers and surrounding suburbs. By industrial sector, in health care and business services. Colgan: Health care employment continues to lead employment growth, but at a slower pace than in the past as the U.S. and Maine health care industries sort out the effects of a large number of changes under way. Professional and business services, and leisure and hos- pitality will be the next two largest job growers. Reisman: Southern and central Maine; health care and education, construction, business and profes- sional services, hospitality and tourism. Johnson: Professional, scientific, technical, and business services sectors, which are mostly concen- trated in Greater Portland. What will be Maine's biggest challenges? Rector: Maine's demographics continue to be the state's greatest challenge, with electricity costs coming in a close second this year. One of the biggest factors in attracting young workers to the state is the availability of well-paying jobs. If businesses are spending more of their revenues on electricity, they have less money available to create those well-paying jobs. e admin- istration's focus on keeping energy costs in check is an important part of creating an attractive environment for businesses and workers alike. Without an influx of new workers, Maine's available workforce will diminish in the coming years. Lawton: e fiscal challenge of maintaining oversized and outmoded infrastructure in areas of population decline — K-12 schools, higher education campuses, hospitals, highways, telecommunications infrastruc- ture (see FairPoint problems), even larger family homes. On the positive side, the largest challenge is for the business and educational communities to break out of their traditional 'we don't and can't do it that way' excuse for not changing their separate worlds and instead finding new ways to jointly engage in the challenge of providing our young — from pre-K to post-graduate — with new ways to acquire the knowledge, skills and experiences that will enable them to become both successful career-build- ers and engaged and knowledgeable citizens. Colgan: Maine is becoming a state with more jobs than people, reversing its century-long status as a state with more people than jobs. e effect will be to raise com- pensation costs as employers try to attract and retain workers and to substitute capital (particularly informa- tion technology) for labor. is is unchartered territory for Maine and the rest of northern New England. Reisman: One, dealing with consequences of an aging population. Two, finding a way to attract and welcome young immigrants, be they from Massachusetts or Mexico. ree, rejecting the green road to serfdom and choosing optimism, capitalism and freedom instead. Johnson: Maine's biggest challenge is ensuring that the benefits of economic growth are more broadly shared, and specifically the pre-tax distribution of income and wages. Policies that strengthen worker's bargaining power, increase wage and labor standards and allow workers to reduce their hours will help create a stronger, more sustainable economy that works for everybody. Describe Maine's economy in 2015 in three words or less. Rector: Continued improvement. Lawton: Startling. Colgan: Recovering. Transitioning. Confusing. Reisman: Grayed. Frayed. Staid. Johnson: Slow, uneven growth. NETWORK CABLING / AUDIO VISUAL / SECURITY / WIRELESS / TELEPHONE connectivity point design & installation / ME - NH - MA / 866-782-0200 / connectivitypoint.com Voice. Data. Video. Access to technology is critical to your business. Connectivity Point is a Maine-owned company specializing in network cabling, audio/visual equipment, security solutions and wireless access. We design and install the connectivity for what's coming next. That's why we're proud to partner with Meru Networks—a global manufacturer of virtualized wireless solutions—as a supporter of Five on the Future. Meru uses virtualization technology to create intelligent and self-monitoring wireless networks. This year, they'll introduce a subscription-based, cloud-hosted service that will allow small and mid-size businesses to deploy wireless LAN solutions through cloud operators like Amazon Web Services, Verizon's Terremark and Rackspace. Get to know us at ConnectivityPoint.com Connectivity is everything » C o n t i n u e d f ro m p r e v i o u s pa g e

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