SmartAssets free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Home Data Nonfarm Payroll Job Estimates Growth by Industry, Maine Department of Labor A diverse organic farming community is present as well. Massachusetts is the second leading producer. Browse all of our state news here. According to MNI, compiler of the industrial information that powers IndustrySelect, Maine is currently home to 2,256 manufacturing companies employing 71,252 workers. This brief paper attempts to answer this question as well as provide some numbers for natural resource based industries and tourism. As mentioned in the article, the Retirement And Pension Plans Industry generates the highest revenue, while the Commercial Banking Industry generates the lowest revenue. It is to be noted that the Health And Medical Insurance Industry has also greatly benefitted from an aging population, as older people need more health insurance coverage than younger people. (See a sample profile here.). Driver killed, engine block launched into home after crash in western Mass. This article will explore the latest trends and statistics in Maines industrial sector and examine the top manufacturing companies in Maines manufacturing sector. Maine Rankings | US News Best States - U.S. News & World Report The days may be numbered for US Steel Corp., a one-time backbone of the nation's economy. USDA/NASS 2022 State Agriculture Overview for Maine Pick any two cities or towns in the United States, and each will be home to people who work in very similar fields. In, BEA. Economy U.S. real value added to GDP in Maine 2022, by industry Published by Statista Research Department , Apr 28, 2023 Temporary shelter for asylum seekers closes in Maine's largest city Consistent with Maines stronghold in the transportation and aerospace industry, Pratt & Whitney operates a massive 1 million-square foot facility in North Berwick, where 2,000 workers produce aircraft engine parts. Yes, its that old. Now, it's the subject of a bidding war among . Certain occupations in areas like education, sanitation, law enforcement, health care, and retail are common across the country as they are practical necessities. Aroostook County is known for its potato crops. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, Retirement And Pension Plans - $1.257.9 billion, Health And Medical Insurance - $1.145.1 billion, Drug, Cosmetic, And Toiletry Wholesaling - $1.049.9 billion, New Car Dealers In The US - $978.7 billion, Life Insurance And Annuities In The US - $886.7 billion, Pharmaceuticals Wholesaling -$868.8 billion, Supermarkets And Grocery Stores In The US - $758.4 billion, Commercial Banking In The US - $703.4 billion. Hes focused on opening up new markets to Maine products, addressing workforce shortages and preparing young Mainers to work in these fields, and fighting federal regulations that dont work for Maine. Over the next five years, the US's Health And Medical Insurance Industry is estimated to grow due to various factors, including a consistent rise in healthcare expenditure, medical cost inflation, etc. August 21, 2023 at 5:33 p.m. EDT. For thousands of years, paper was made from used ragsnot wood. 1734 The first paper mill in Maine was operated on the Presumpscot River in Westbrook by Colonels Thomas Westbrook and Samuel Waldo. Overview of Maine Area 35,380 SQ. There's a reason we associate Maine with lobstersthe state has led American lobster landings for over 3 decades. . American lobster - Wikipedia The Bureau of Economic Analysis estimates that Maine's total gross state product for 2019 was $67.7 billion, representing a 1.4% growth rate over the previous year. IndustrySelect gives you live access to detailed information on 460,000 U.S. industrial companies and one million executives. Augusta is the most eastern capital city in the United States. Maine Economy - Facts and Figures - Maine Home Connection IDEXX Laboratories, Inc. (Westbrook, ME). Maine's red-hot real estate sector was the biggest contributor to economic growth during 2021 as a whole. The largest union at Navy shipbuilder Bath Iron Works in Maine overwhelmingly approved a new three-year contract, the union said Sunday, averting another strike like the one three years ago that . At this facility, three paper machines and two kraft pulp lines produce 550,000 tonnes/year of specialty products and 120,000 tonnes/yr of kraft pulp. 1930-1970s Other forested states in the country continue to successfully make paper, forcing Maine to adapt with the competition. man drowns trying to rescue wife, steps-on from fast-moving NH river. Workers are trained with science, technology and innovation in mind in order to produce efficient equipment, superior products, and protect natural resources. Available: https://www.statista.com/statistics/1065013/maine-real-gdp-by-industry/, Real value added to the gross domestic product of Maine in the United States in 2022, by industry, Immediate access to statistics, forecasts & reports, U.S. fruits and vegetables market size 2011 to 2023, Sales of fresh fruit in the U.S. 2022, by type, Consumer price index for fresh fruit in the U.S. 2007-2022, Sales growth of fresh fruit in the U.S. 2022, by type, Leading organic produce items sold in the U.S. 2022, by category, Per capita consumption of fresh fruit in the U.S. 2000-2021, U.S. per capita consumption of canned fruit 2000-2021, U.S.: per capita consumption of dried fruit 2000-2022, U.S. per capita consumption of frozen fruit 2000-2021, U.S.: per capita consumption of fresh fruit by fruit type 2021, Consumers' preferences fruits and vegetables in the U.S. in 2022, by look, Consumer awareness of fresh produce brands U.S. 2022, Frequency that consumers purchase pre-cut fruits and vegetables in the U.S. in 2022, Share of U.S. consumers purchasing fresh produce without packaging 2022, by region, U.S. per capita consumption of fresh citrus fruit 2000-2021, U.S. per capita consumption of fresh avocados 2000-2021, U.S. per capita consumption of fresh grapes 2000-2022, U.S. per capita consumption of fresh watermelons 2000-2021, U.S. per capita consumption of fresh pears 2000-2021, U.S. real value added to GDP in Michigan 2022, by industry, U.S. real value added to GDP in Oregon 2022, by industry, U.S. real value added to GDP in Washington D.C. 2022, by industry, U.S. real value added to GDP in Alabama 2022, by industry, U.S. real value added to GDP in Montana 2022, by industry, U.S. real value added to GDP in Rhode Island 2022, by industry, U.S. real value added to GDP in Hawaii 2022, by industry, U.S. real value added to GDP in Nebraska 2022, by industry, U.S. real value added to GDP in Arkansas 2022, by industry, U.S. real value added to GDP in Kentucky 2022, by industry, U.S. real value added to GDP in North Dakota 2022, by industry, U.S. real value added to GDP in Indiana 2022, by industry, U.S. real value added to GDP in Minnesota 2022, by industry, U.S. real value added to GDP in Connecticut 2022, by industry, U.S. real value added to GDP in Oklahoma 2022, by industry, U.S. real value added to GDP in Wyoming 2022, by industry, Real value added to the gross domestic product of Maine in the United States in 2022, by industry (in billion chained 2012 U.S. dollars), Find your information in our database containing over 20,000 reports, Finance, insurance, real estate, rental, and leasing, Educational services, health care, and social assistance, Arts, entertainment, recreation, accommodation, and food services, Agriculture, forestry, fishing and hunting, Mining, quarrying, and oil and gas extraction. Maine major industries? - Answers Its also a major employer in the state with 6,700 workers. Phone: (207) 623-7900 TTY: Maine Relay 711 Cumberland County is Maines largest in terms of manufacturing jobs, home to 19,408 workers. 2000-2020 Maine does what it does bestit adapts. For example, CMP's transmission rate is 11.4 cents per kilowatt-hour, while Madison Electric, operating in the same service area, has a 5.8-cent rate. The last table is a list of Maine's 50 largest private companies. This Is the Largest Industry in Maine - 24/7 Wall St. 2 In 2018, 1,902 companies exported goods from Maine- 85 percent were small and medium - sized companies. Agriculture has always struggled with adverse soil and climatic conditions. Key Background. He also led the delegation to urge the president to intervene directly. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information ON Semiconductor is a major semiconductor supplier headquartered in Phoenix. Beans footwear empire to major defense contractors like Bath Iron Works and Pratt & Whitney. BEA. WASHINGTON Congressman Jared Golden (ME-02) today announced the introduction of the, WASHINGTON Senator Angus King (I-ME) and Congressman Jared Golden (ME-02) reintroduced their, In response tothe National Oceanic andAtmosphericAgency(NOAA)favoring the shipping industry over, the lobster industry in its attempts to reduce the risk o, WASHINGTON Following the unsubstantiated and speculative decision by Monterey Bay Aquarium's Seafood Watch to place Maine lobster on their seafood Red List, Congressman Jared Golden (ME-02) and Senator Angus King (I-ME) today announced that they will be introducing the, Pandemic Assistance for Timber Harvesters and Haulers Program FAQ, Golden, Pocan, Tenney, Chavez-DeRemer Form New Congressional Printing Caucus, To Protect Maine Fisheries and Coastal Communities, Golden Introduces Bill to Prohibit Commercial Offshore Wind Energy Development in Key Fishing Grounds in the Gulf of Maine, Maines Congressional Delegation, Governor Mills Ask Federal Agency in Charge of Offshore Wind Leasing to Listen to the Voices of Maine Fishermen, King, Golden Introduce Bill to Help Young Mainers Work at Family Logging Operations, Golden Calls on NOAA to Share Findings of Causes of Recent Whale Strandings, Maine Delegation, Governor Mills Announce Lifeline for Maines Lobster Industry Secured in Government Funding Package, Maine Delegation Blasts Inconsistencies of NOAAs Vessel Strike Rule that Treats Lobster Industry Unequally, Maine Delegation, Governor Call on NOAA to Hold Additional Scoping Meetings for Lobstermen in Downeast Maine, Golden, King to Introduce Bill that Blocks Federal Funding for Monterey Bay Aquarium, Seafood Watch. The imposition of more taxes and trade restrictions prodded the economically distressed Cubans in 1895 to launch the Cuban War of Independence, a resumption of the earlier struggle. By Purchasing Power Parity, the US holds more than 16% of the gross world product and is considered to be the second-largest in the world, just behind the People's Republic of China. In terms of market size, the Health And Medical Insurance Industry is a top-ranked Finance And Insurance industry. If youre an investor looking to minimize expenses, consider checking out online brokerages. West Quoddy Head is the most easterly point in the United States. a scientific peer review process and worked to bar federal funding from private sector organizations that target the industry while flouting this science. Center for Workforce Research & Information We also excluded all government sectors. Click to skip our analysis of the global industry trends, jump to the 5 Biggest Industries in the World in 2021. . Hardwood Products Co, Inc. LLC (Guilford, ME). In 2016, 17,568 U.S. jobs were supported by goods exported from Maine. As a highly developed nation, the United States continues to sustain its position as one of the world's most powerful and largest economies. Wiki User. PORTLAND, Maine (AP) Nearly 200 asylum seekers from African countries have traded one temporary home in Maine's largest city for another Wednesday after a basketball arena that served as a shelter closed. Employing 7,400, this producer of naval ships and destroyers is Maine's largest industrial employer. WASHINGTON Congressman Jared Golden (ME-02) today announced the introduction of the Northeast Fisheries Heritage Protection Act. 1900-1930s Paper mills and factories are Maines biggest employers. Training and implementation of the new elements of the contract begin this week.. Support Local Businesses With Our Maine Gift Guide, 7 Maine Food Festivals You Dont Want to Miss. The largest industry in Maine was the category of finance, insurance, real estate, rental and leasing, representing almost 21% of the total and accounted for 1.2% of real growth. Average rating 2.3 / 5. 5. Manufacturing, services, and taxation The service sector represents the largest component in the market value of Maine goods and services; the manufacturing sector is second. Inventors embraced this challenge and, recognizing the beauty of Maine forests, started mixing in Poplar wood fiber. American Lobster | NOAA Fisheries To use individual functions (e.g., mark statistics as favourites, set Augusta, ME 04333-0118, Phone: (207) 623-7900 The industry's annual economic output totals $3.3 billion, a 7.3% increase over the . 7. Now let's take a look at . and over 1Mio. The companys South Portland facility employs 850 and produces semiconductor integrated circuits. Each of Maines heritage industries are changing. The industry holds more than 20% of all the corporate bonds in the country and represents the most significant source of bond financing for the countrys businesses. Arm's mega IPO could be just around the corner, a year after the biggest chip deal in history fell apart By David Goldman , CNN Published 6:35 PM EDT, Mon August 21, 2023 for farmers to repair their own equipment. AnIndustrySelect subscription can put you on a first-name basis with Maine s 2,400+ industrial companies and 6,500+ executives. Next, well take a look at the states top companies. Some of the very few large companies that do maintain headquarters in Maine include Fairchild Semiconductor (South Portland), IDEXX Laboratories (a large veterinary biotech company in Westbrook) and the famous outdoor supply retailer L.L. Tourism in the state becomes incredibly popular and necessary for the health of the economy. Twin Rivers Paper Co., LLC (Madawaska, ME). It features a rugged coastline, and dense forests, that meets the start of the Appalachian Mountain Range on its western border. 10. Investing in real estate can diversify your portfolio. Moreover, government-sponsored programs like Medicare have helped increase government spending on health and medical insurance. What two conditions led to the Cuban rebellion in 1895? Renowned for being the northeastern-most state bordering the Canadian provinces of New Brunswick and Quebec, Maine also shares its western border with New Hampshire. Directly accessible data for 170 industries from 150+ countries Bangor, Maine Coordinates: 444811N 684603W Bangor ( / br / BANG-gor) is a city in and the county seat of Penobscot County, Maine, United States. Over the years, the rise in per capita disposable income levels and the availability of consumers to buy more premium products have greatly helped increase the revenue of the Supermarkets And Grocery Stores Industry. Read more:Top Manufacturing Cities in the U.S. Bath (5,935 jobs) Westbrook (4,011 jobs) Auburn (3,718 jobs) South Portland (2,756 jobs). History of the lumber industry in the United States - Wikipedia Those tourists spent more on restaurants, shopping and . The Public School Industry includes primary and secondary schools that provide education for children without any charge. Maine Agriculture - Farm Flavor Bangor, Maine - Wikipedia 1854 Samuel Dennis Warren purchased the Westbrook mill and founded S.D. Food products and transportation equipment are also important, but production of leather goods (especially shoes) has declined. Top 5 Industries in Maine: Which Parts of the Economy Are - Newsmax When new proposed regulations threatened the livelihoods of Maine lobstermen, Jared led the Maine delegation in speaking out. The access to medical insurance and increased demand from the elderly population had helped in generating substantial revenue growth for this industry. As former chairman of the House Small Business Subcommittee on Underserved, Agricultural, and Rural Development, this has led to him championing efforts like, for forever chemical contaminations and the. A Brief History of the Industry - U Maine Pulp and Paper Foundation Currently, you are using a shared account. During the age of sail, Maine's tall, straight Eastern White Pines were prized as masts. Despite much volatility in investment income, steady growth and strong investment gains have led to the industry's growth. Fax: (207) 287-2947 March 31, 2023. The largest industry in Maine was the category of finance, insurance, real estate, rental and leasing, representing almost 21% of the total and accounted for 1.2% of real growth. The Department of Labor is an equal opportunity provider. The US has the second-largest automobile market globally, and its economy is heavily reliant on road transport. Employing 600 in Auburn, Lepage Bakeries is a major producer of bakery products, breads, and rolls, with international distribution. Other facts to know about Maine manufacturers, based on IndustrySelects advanced criteria available to subscribers, include ownership, distribution and other trends. Once US Steel was the most valuable company in the world. The downtown district in Portland, and the Old Port historical area, provide many business opportunities for residents and visitors. The history of the lumber industry in the united states spans from the precolonial period of British timber speculation, . S&P expects the market to reach around 2.8 million cars this year, up from 2.7 million in 2022. Manufacturing is still the largest sector in the state's economy. Exports of U.S. frozen blueberries were almost 47.9 million pounds valued at $111 million. The data only analyzed private . He proposed a bold amendment to block the governments regulations until the underlying data had undergone a scientific peer review process and worked to. According to MNI, Portland is Maines largest city based on number of industrial jobs, with 6,076 workers. Maine Home Connection Copyright 2003 - 2022 All Rights Reserved19 Commercial St Portland, ME 04101 Office: (207) 517-3100. Top 10 Manufacturing Companies in Maine - IndustrySelect Watch 50 People Guess The Biggest Industry In Their State | Culturally Established in 1919, the facility also serves as the companys headquarters. Detailed List Of The 100 Biggest Companies In Maine How useful was this post? The industrys annual economic output totals $3.3 billion, a 7.3% increase over the last five years. Maine State Facts - 50States.com - 50states With only a few exceptions, the largest industry in each state is real estate. Employing 7,400, this producer of naval ships and destroyers is Maines largest industrial employer. Maine's Trade with Canada and Mexico . These schools are financed by Federal, local, and state governments. Rounding out our top 10 list is Panolam Industries, a provider of decorative laminates & treated paper. GDP $ 84 Billion College Educated 46.6% Population 1,385,340 Capital Augusta Median Income $ 39,725 Maine's 35,380 square miles make it the largest of. An investor-owned utility like CMP serves a . Maine is the most rural U.S. state and has the most energy-intensive economy in New England. 9. Maine's economy finished 2021 with strong economic growth About the Top 10 Manufacturing Companies in Maine. 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