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Maine Development Foundation

Press Release

Maine Economic Growth Council presents Measures of Growth 2015 report

Date:

April 15th, 2015

Photo of the report cover

Augusta, April 15, 2015—On behalf of the Maine Economic Growth Council, Co-chair Eloise Vitelli of Women, Work, and Community and Council member Ken Priest, II of Kenway Corporation, presented Measures of Growth 2015 to legislative leaders and the Governor.  This year’s report highlights the fundamental performance indicators that speak to the overall health of Maine’s economy and the key leverage points to help us move toward the Council’s vision of “a high quality of life for all Maine people.”

The new look of the report emphasizes the impact on Maine’s people and the report is rich with relevant and valuable information and data.  Overall, since the last report, Maine made progress on four indicators, lost ground on seven, and saw no significant movement on twelve. Four gold stars were awarded to areas demonstrating exceptional performance:  Cost of Doing Business, Cost of Energy, Air Quality, and Water Quality.  The cost of doing business in Maine is at its lowest since the early 1990s, and the decline in electricity costs has eased the burden on Maine’s people and businesses.  Maine’s water quality remains well above U.S. averages and our air quality continues to improve, enhancing our health and quality of life and helping to attract more people and businesses to our state.  

Five red flags were also assigned to areas needing particular attention: Wellness and Prevention, Research and Development Expenditures, High Speed Internet Subscribers, Transportation Infrastructure, and Fourth Grade Reading Scores.  

“The Measures of Growth report shows us where we should be focusing our efforts if we hope to improve Maine’s economic prospects over the long term.  We can clearly see the areas of strength and areas of need,” said Council Co-chair, Eloise Vitelli of Women, Work, and Community. 

“The report makes it clear that we need to continue to make strategic investments in our infrastructure and our people, control costs, and build on our assets as we look to improve our economy, and ultimately our quality of life, in the years ahead,” said Council Co-chair Steve Von Vogt, President and CEO of Maine Marine Composites.  

The Maine Economic Growth Council was established by statute in 1993 to develop a vision and benchmarks for Maine’s long-term economic growth.  Council members are jointly appointed by the Governor, Senate President, and Speaker of the House, and represent a broad and diverse cross-section of Maine’s key constituencies.  The Council is administered by the Maine Development Foundation, a private, non-partisan membership organization created in statute in 1978 that drives sustainable, long-term economic growth for Maine.

For a complete copy of the report please go to www.mdf.org 
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