Mainebiz

W W W. M A I N E B I Z . B I Z 9 F E B R UA R Y 1 9 , 2 0 1 8 park project created to help to revital- ize its historic riverfront. In return for the donation, which brought the fund- raising campaign to the halfway point of its $1.5 million goal, the bank will receive naming rights for the amphi- theater at the park. Boothbay drafts plan to bolster economy Business and community leaders throughout the Boothbay region are working to draft an economic development and strategy action plan to bolster the local economy in the short and long term. e Boothbay Register reported the plan's goals include promoting the region as "open for business" as well as working with marine-based businesses to address workforce recruitment, helping young people to find their vocations through school programs and identifying funds for training in businesses that distinguish the region from others. e plan identifies other top issues, including affordable housing, down- town and waterfront development, tourism infrastructure maintenance, regional transportation and regional collaboration. Proposed actions to address various issues included updat- ing regulations and identifying and reinforcing existing assets. Wood pellet maker closes down e high cost of electricity to manufac- ture wood pellets has driven a Boothbay pellet manufacturer out of business. e Boothbay Register reported that Erik Carlson is a certified forester and logger who runs C&L Forestry in Edgecomb. For the past two years, he also ran a small wood pellet manufacturing plant in Boothbay's industrial park. But he closed up shop after Central Maine Power Co. sent him a disconnec- tion notice. "I couldn't overcome the oppressive and unsustainable costs of electricity," he told the newspaper, say- ing he had paid $30,000 in electrical bills for less than a year's worth of full production. Other larger Maine wood pellet companies struggle with Maine's high electricity costs compared to the national average, as well, the newspaper reported. During the winter of 2016-17, demand was slack for the wood pellet industry due to continued low oil prices and an average winter. Entrepreneurship and Innovation are Deeply Rooted in the Maine Economy When starting a business, you have a lot to keep your eye on. Sometimes it's hard to see the opportunities and the risks clearly. That's where Drummond Woodsum attorneys Michael High, Aaron Pratt, Gary Vogel and Lisa Magnacca can help. We provide expertise in all phases of your business, from formation and nancing to strategic relationships and business combinations. It's important for start-ups and young companies to get the legal insight they need, so that they can focus on growing their business. We offer practical, business-focused advice and have shepherded many companies from formation through ultimate sale and liquidity for founders. We practice law differently. Since 1965. dwmlaw.com | 800.727.1941 R EGI ONAL S PONS OR S PR ES ENTI NG S PONS OR Join us at our first stop in the 2018 On the Road with Mainebiz event series at the Ocean Gateway in Portland. Enjoy hors d'oeuvres and a cash bar while networking with business executives in the area. Network with Mainebiz and Area Business Executives on March 15 AT TENDANCE IS FREE BUT SPACE IS LIMITED! Please be sure to register ahead at mainebiz.biz/OTRPortland FOLLOW US @MBEVENTS #OTRPortland18 PORTLAND M I D C O A S T & D O W N E A S T

• Cover