AUGUSTA — The Maine Development Foundation and the University of Maine’s School of Economics recently released the fifth quarterly report analyzing critical economic indicators in Maine. Previous reports have addressed Maine’s comparatively low output per worker, per capita personal income, the fiscal benefits of higher education, and land conservation in Maine. The current report addresses the issues of cost, consumption and production of energy in Maine.
Among its programs, MDF staffs the Maine Economic Growth Council, an independent body created in statute to develop a long-term vision for Maine’s economic growth and assess our progress toward that vision. The Growth Council issues the annual Measures of Growth In Focus, a reliable and trusted report measuring Maine’s progress on 27 critical economic indicators. This series of quarterly economic reports by MDF and UMaine further explores these topics.
Energy is a critical cost factor to Maine people and businesses and to others who may consider relocating here. The Measures of Growth report’s Cost of Energy indicator tracks retail and industrial electricity prices for Maine, both of which have declined in recent years. Nevertheless, Maine’s costs of energy remain high relative to the nation. Further understanding of the issues related to costs, consumption and production can help inform our decisions as we look to grow Maine’s economy. Continuing improvements in efficiency and further diversification can give Maine people and businesses more options and greater flexibility to adjust to changing energy markets.
The full report can be found on the MDF website at www.mdf.org.
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