Mainebiz

W W W. M A I N E B I Z . B I Z 13 J U LY 2 7 , 2 0 1 5 for EMMC to hire 30 new nurses as an eff ort to improve care delivery for patients. In addition to giving nurses a 6% pay hike, the contract will also give nurses a greater voice in address- ing concerns over patient care. Bangor inn to appear in 'Hotel Impossible' e Charles Inn in Bangor will appear in a future episode of e Travel Channel's "Hotel Impossible" reality show. e Bangor Daily News reported that fi lm and construction crews began work on July 20 for the inn, which was built in 1873 and con- verted into a hotel in the early 1980s. e newspaper said it is not currently known when the inn's episode will air. N O T E W O R T H Y N O R T H E R N & E A S T E R N The U.S. Department of the Interior's Bureau of Indian Affairs awarded the Passamaquoddy Tribe at Pleasant Point Reservation and the Aroostook Band of Micmacs grant funding totaling $237,396 as part of the Landscape Conservation Program. Sport Clips Haircuts, a men's and boys' haircare provider, recently opened a location at 569 Stillwater Ave. in Bangor. The Department of Housing and Urban Development awarded $124,797 in Capital Fund Emergency Safety and Security Program grant funding to the Fort Fairfi eld Housing Authority. The funds will be used to purchase a security camera system, doors, locks, lighting and fencing at Borderview, Fields Lane and Hillcrest Estates to improve security and monitoring at each facility. 1 # We're Find out why Androscoggin Bank is the top lender for SBA 504 loans* in Maine at androscogginbank.com. Smarter Banking ™ 1.800.966.9172 • androscogginbank.com To find smarter solutions for your business needs, contact Dave Eldridge, SVP and Commercial Lending Manager at 207-376-3626 • deldridge@androscogginbank.com. *As ranked in dollars lent and units by the Small Business Administration for FY 2014. Of the 619 middle market fi rms in Maine, only 19 are involved in exporting, according to a new study. That 3% is on par with Vermont, but lower than other New England states, with 4% involved in exporting in Massachusetts and New Hampshire and the 5% in Connecticut and Rhode Island. The U.S. total is 5%, according to a new study from American Express and Dun & Bradstreet, "Middle Market Power Index: Taking the Global Stage." Middle market companies, which generate from $10 mil- lion to $1 billion in revenues, tend to export more as their revenues grow and they remain in business longer, according to the report, but they do so strategically and cautiously. "These are the most dynamic fi rms in the U.S. economy. They account for almost all of the net new jobs," report author Julie Weeks told Mainebiz. She said states should look at how to help these companies grow from $1 million to more than $10 million in revenue. "This report tees us up for a discussion of what can be done," she said. "A lot of businesses are probably ready to export, but don't know how." Weeks said states can help both companies and industries like blueberries, lobsters and forestry by getting their prod- ucts known in other countries that might want to buy them. State-run trade missions are one vehicle to do that, she said. Gov. Paul LePage will lead a delegation of Maine busi- nesses and educational institutions in a trade mission to Japan and China this October that is organized by the Maine International Trade Center and the U.S. Commercial Service. "Mid-sized companies are driving job growth domestically, and many could benefi t from overseas expansion earlier in their lifecycles," Susan Sobbott, president of global corporate payments at American Express, said in a prepared statement. Jeff Stibel, vice chairman of Dun & Bradstreet, added that there is a high likelihood for increased domestic job growth as middle-market companies increase exports. The report cited U.S. Census fi gures noting that less than 1% of all U.S. businesses are middle market companies. They account for 29% of all U.S. business revenues and 18% of the fi rms that export goods and services. Additionally, middle market companies account for only 9% of the value of U.S. exports, lagging larger fi rms, according to the International Trade Administration. The report is based on an analysis of all fi rms in Dun & Bradstreet's commercial databases of nearly 19 million busi- nesses between 2008 and 2014. — L o r i V a l i g r a Study: Middle market fi rms enter foreign markets cautiously, strategically

• Cover