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Fact Book: Doing Business in Maine

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V O L . X X I N O. X I V 40 FA C T BO O K / D O I N G B U S I N E S S I N M A I N E C E O I N T E RV I E W Mainebiz: What are the advantages of doing business in Maine? Kent Peterson: e strong work ethic and quality of character are hallmarks of the Maine workforce. A company built with a team of employees here, I believe, can punch above its weight competing across the United States and the globe. I also like that there are only about two degrees of separation between Maine residents. is facilitates network- ing to get answers to questions or needed assistance from others. It means accessibility to all levels of town, regional, state and, in particu- lar, the Congressional delegation. It expedites solving issues or raising visibility on certain matters. Also, the legendary quality of life here in Maine is a signifi cant asset in at- tracting talent into Maine. What's more, the state is moving in the right direction in being a more and more business friendly environment. MB: How much of your customer base is in Maine vs. the rest of the United States (or the world)? KP: Notwithstanding a couple high visibility customers such as Bigelow Laboratory and Colby College, essentially all of Fluid Imaging's customers are outside of Maine. In fact, over the past fi ve years about 60% of our business came from outside the United States. We have about 600 FlowCAMs in over 45 countries around the world. Because almost 100% of our rev- enues came from outside the state, and about 80% of our spending is for local salaries, wages and prod- uct vendors, Fluid Imaging is, in macroeconomic terms, a high-value commercial enterprise for the state. Lastly, it can be said that with such an expansive global network of customers, rather than thinking that Maine is at the margin of the U.S gross domestic product, geographi- cally speaking, I consider Maine to be at the epicenter of our world market! MB: What are the challenges of doing business in Maine? KP: One material issue facing many businesses is the misalignment between the skills of the workforce and em- ployer's needs. However, this dynamic is experienced throughout the country. For Fluid Imaging, it is acutely felt in recruiting for software and hardware engineers (electrical and mechanical) with applicable experience. e recent conversations and initiatives regarding increased investments in educational programs and other initiatives, will, in time, ameliorate this scenario. MB: Where are you from? Describe briefl y your own journey to where you are in Maine. KP: I grew up in Connecticut and went to college and then to graduate school in Denver and Boston, re- spectively. After working in several multinational organizations around Boston's Route 128 corridor, I start- ed enjoying work in small, high- growth fi rms. Now working with Fluid Imaging Technologies since its inception, I feel as if I have come full circle, in that my college thesis was on entrepreneurship and start- ing and growing a business — and that was long before that term was widely known! Kent A. Peterson Title: President and CEO Company: Fluid Imaging Technologies Inc. Headquarters: Scarborough What the company does: One of its principal products is the FlowCam, equipment that does particle analysis in a laboratory environment. A tireless advocate for Maine Kent A. Peterson, president and CEO of Fluid Imaging Technologies Inc., is a Connecticut native who has worked for global firms based on Boston's Route 128 corridor. Now, he runs a high-tech company and talks about Maine's quality of life, but also networking that's facilitated by what some call the "two degrees of separation." B y p e t e r v a n a l l e n P H O T O / T I M G R E E N WAY Kent A. Peterson, president and CEO of Fluid Imaging Technologies Inc., with the company's signature product, the FlowCam. I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of I like that there are only about two degrees of separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates separation between Maine residents. This facilitates networking to get answers to questions or needed assistance from others. It means accessibility to all levels of town, regional, state and, in particular, the Congressional delegation. It expedites solving issues or raising visibility on certain matters.

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