Economy

Entrepreneurship59

In 2021, the number of business starts exceeded closures by 71%, up from 12% in 2020.

International Exports10

Maine exports rose 10% in 2022, reaching their highest level since 2011.

Eighth-Grade Math-10

In 2022, 24% of Maine 8th graders were proficient in mathematics, down from 34% pre-COVID.

Fourth-Grade Reading-7

In 2022, 29% of Maine 4th graders were proficient in reading, a sharp drop from pre-COVID levels.

Prekindergarten Education8

In 2022-23, the share of schools with pre-Ks rose to 85%.

Cost of Health Care-0.7

Proportional health care expenditures fell 0.7% in 2022 but remain an ongoing challenge.

Cost of Doing Business0

In 2021, Maine’s cost of doing business was unchanged.

State & Local Tax Burden0

In 2021, Maine’s tax burden remained unchanged at 11.7%.

Cost of Energy17

The price of industrial electricity rose 17% in 2022, mirroring nationwide increases.

Research & Development0.1

In 2020, Maine’s R&D spending rose from 1.0% to 1.1% of GDP.