Mainebiz

V O L . X X I I N O. X V 22 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? David Colter: ere are many advan- tages doing business in Maine, but two come to mind quickly. e quality of the workforce and the relationship between business and state legislative leaders. e work ethic of our employ- ees has been strong. We have a diverse group that includes skilled, unskilled, professional and administrative. ey are committed and reliable per- formers. While Maine has a large geographic footprint, the business community and legislators focus their eff orts to network and collaborate for the betterment of business and the state economy. MB: How much of your customer base is in Maine vs. the rest of the U.S. (or the world)? DC: About 60% of our customer base is rooted in Maine. If you add the other New England states, the total rises to 70%. Our reach is driven by effi cient logistics to ship bulk liquid products. Most of the products pro- duced at GAC are liquids shipped in bulk tank trucks. MB: What are the challenges of doing business in Maine? DC: I believe owning and running a business in Maine is underrated by people outside the state. e business community here is a close network of quality companies producing and selling great products and services here and abroad. Maine off ers a good quality of life, a little slower pace and a can-do attitude from those who live and work here. From a pure business perspective, the port system in Maine has not been fully utilized. Progress has been made in this area over the past fi ve years due to the eff orts of many that include the administra- tion in Augusta. e best example is the port of Portland. It has experi- enced investment in infrastructure upgrades to allow Eimskip to set up container operations there. Eff orts are also underway to make improvements and attract business to the ports in Searsport and Eastport. A success- ful port strategy will help overcome the challenge of how Maine is viewed on a national and global platform. Instead of looking at Maine as the end of the line, it should be viewed as a pivotal point in the middle of a global economy. MB: Where are you from? Describe briefl y your journey to where you are in Maine. DC: I am originally from Toledo, Ohio. After four years in public accounting and obtaining by CPA certifi cation, I joined GAC in 1994 at their corporate offi ce just outside Toledo. It was in that same year GAC acquired the Searsport facility to go along with facilities already owned in Toledo, Indianapolis and Saukville, Wisc. In 2003 the founder of GAC sold the three Midwest facilities and asked me to move to Maine to run the Searsport opera- tions. GAC was and remains a very entrepreneurial company. I defi nitely had the entrepreneur bug and ac- cepted the assignment. My time here in Maine has been a fun, exciting and rewarding experience. In June 2015, we were able to fi nance the buyout of the company founder and implement a 100% Employee Stock Ownership Plan. is transaction provides for the long-term viability and sustain- ability of the facility and workforce in Searsport. David Colter Title: President and CEO Company: GAC Chemical Corp. Headquarters: Searsport What the company does: GAC Chemical produces industrial, specialty and fine inorganic and organic chemicals. Its clients range from power plants to industrial manufacturers to paper mills. Founded in 1979 as General Alum & Chemical Corp., GAC was originally headquartered in northwest Ohio. In 2003, the company sold Midwest operations to a private equity firm and the headquarters was moved to its existing facility in Searsport. A 'rewarding experience' in Maine David Colter, president and CEO of Searsport-based GAC Chemical, is an accountant by training who leads a company that manufactures liquid aluminum sulfate and other chemicals at one of Maine's three deep-water ports. Colter also led GAC through its 2015 conversion to an Employee Stock Ownership Plan. B y p e t e r v a n a l l e n P H O T O / DAV E C L O U G H Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good Maine offers a good quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little quality of life, a little slower pace and a can-do attitude from those who live and work here. 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 David Colter is president and CEO of GAC Chemical Corp. in Searsport. Colter is a native of Toledo, Ohio, who moved to Maine to run operations in 2003.

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