Top Reasons Companies Invest in Maine
Location – Proximity to Markets
The Boston – Washington corridor is home to 18 percent of the U.S. population. Extending 500 miles through New York and Philadelphia, the region generates $3.75 trillion in economic output annually, only behind the U.S., China and Japan. Canada and Maine share a 600-mile border with trade and investment totaling more than $3.5 billion a year.
Workforce – Experienced and New Talent
An educated and motivated workforce is critical and a major factor in selecting a new location. More than 20 public colleges and universities enable the state to develop long-term workforce capacity, while 7 community colleges can address immediate industry training needs.
Revenue – Lower Cost of Doing Business
Innovative and creative business incentives, lower labor and property costs, ready access to R&D, infrastructure and reduced regulation, combine to make Maine an economically viable and competitive option.
A few of the companies investing in Maine include: Huhtamaki Food Service, International Grand Investment Corp, InSphero, Jotul, Lufthansa Technik, McCain Foods, Molnlyche Health Care, and Sappi Fine Paper North America.
“Sappi Fine Paper North America has a heritage of research and development at our plants in Maine where we continue to attract a talented and innovative workforce.”
– Amy Olson, Manager, Corporate Communications, Sappi Fine Paper North America, Westbrook, Maine
View complete list: Foreign Direct Investment in Maine
What Happened When Zootility Tools Moved to Maine?
“In 2014, Zootility Tools moved its operations to Portland from Massachusetts and that was when the company really took off. We were a small local company. When we came to Maine, I was able to find really passionate, creative people that thought this was something they wanted to be part of. We have an excellent team that has grown with us…Orders come in every day from all over the country, and even from New Zealand and Japan. The move to Maine was definitely the right decision.”
– Nate Barr, Owner, Zootility Tools
Why did InSphero chose to locate in Maine?
“Proximity to talent, both new to the workforce and experienced; proximity to customers; and proximity to Switzerland, in terms of travel and time zones.”
– Jan Lichtenberg,Ph.D., CEO/Co-founder, InSphero