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Fast Facts

National Association of Home Builders named Bangor as one of twelve metro areas showing sustained economic recovery.

 

BANGOR, MAINE

Surprisingly Metro. Refreshingly Real.

City of Bangor Expands Foreign-Trade Zone

The City of Bangor is pleased to announce that it has expanded its Foreign-Trade Zone to provide a new benefit to businesses located within Hancock, Penobscot, Piscataquis, Waldo, and Washington counties.  The City’s Foreign-Trade Zone has been entered into the Alternative Site Framework (ASF), a streamlined process that will provide companies with the ability to secure approval for Foreign-Trade Zone designation in a much faster time frame than was previously available. With basic information on the company, its operation and location, companies located within Hancock, Penobscot, Piscataquis, Waldo, and Washington counties can secure Foreign-Trade Zone status for warehouse and distribution operations within approximately 30 days from the time an application is accepted for filing. Manufacturing companies may also benefit from additional streamlined procedures. Foreign-Trade Zone status will provide a competitive advantage for companies in the five county service area. 

 

BIW to hire 600 for ship work

 

Bath Iron Works expects to hire approximately 600 people by the end of the year.

TheKennebec Journalreported the large wave of hirings will help the naval contractor work onsix U.S. Navy destroyerssimultaneously. The hiring wave will bring BIW to almost 6,000 workers for the first time in nearly 10 years. "That is more [work] than we have dealt with in a long, long time," Edward Kenyon, manager of a destroyer program, told the newspaper.

BIW has received approximately$700 millionin several contracts in the last few months, including work for some of the destroyers.Proposed cutsin the U.S. Department of Defense's budget for next year could impact some BIW contracts if Congress doesn't act to repeal them.

 

 

Cross Insurance buys Bangor Daily News building

TheBangor Daily Newshas sold its Main Street headquarters to Cross Insurance.

The sale will allow the insurance company to move its 75 Bangor employees from its Gilman Road building to the nearly 63,000 square-foot building on Main Street, according to a press release. TheBDNis currently in the process of finding a new home while the two companies share office space for several months. The sales price is not being disclosed.

With the new Cross Insurance Center across the street, the move will help enhance its brand, said Royce Cross, the company's CEO who has been named byMainebizas one of the2014 Business Leaders of the Year. "We look forward to working with the dedicated staff of theBangor Daily Newsto ensure a seamless transition as we relocate our headquarters," he said.

The newspaper was poised tosell its buildingto a hotel company last year until the dealfell throughshortly after. Around that time, BDN Publisher Richard Warren said the company was only using between 50% and 60% of its 491 Main St. building, where it has been since 1954.

Cross will be honored atMainebiz's2014 Business Leaders of the Year Receptionon May 8 at the Portland Country Club in Falmouth.

 

Maine No. 12 as best state for retirement

Maine is the 12th best state for retirement, according to a new ranking by Bankrate.com.

The state's high ranking topped other New England states, along with Florida and California, which ranked 39 and 28, respectively. The rankings are based on several factors, including overall well-being, cost of living, health care quality, tax burden, crime statistics and local weather.

The rankings include Gallup-Healthways Well-Being Index, Council for Community and Economic Research, Agency for Healthcare Research and Quality, the Federal Bureau of Investigation, the Tax Foundation and the National Oceanic and Atmospheric Administration.

The Maine Council on Aging released a "Blueprint for Action on Aging" plan earlier this year to address the state's rapidly aging population. The report recommends improving seniors' access to affordable housing, transportation, health care and employment.

Mainebiz reported this month that Maine is expecting a shortage of dentists in the near future, with a large number of dentists planning to retire in the next 10 to 20 years.

 

Searsport harbor dredging long overdue, vital to Maine trade, transportation commissioner tells economic development group

An article posted January 29, 2014 in the Bangor Daily News details some of the econmic implications of dredging Searsport Harbor.

Read the full article here:

Searsport harbor dredging long overdue, vital to Maine trade, transportation commissioner tells economic development group

 

Real GDP growth of 1.4% for Bangor

http://www.mainebiz.biz/article/20130918/NEWS0101/130919949/1092 

A September 18, 2013 article in Mainebiz explores the real GDP growth for Maine's metropolitan areas and shows that both Bangor and Lewiston-Auburn lead the state in real GDP growth from 2011 - 2012.

 

UMaine unveils unique base for floating wind turbine that could provide glimpse into future

Bangor Daily News May 8, 2013 ORONO, Maine — The University of Maine unveiled the floating platform of VolturnUS, a one-of-a-kind offshore wind turbine that officials hope will shape the future of energy i n Maine, during a ceremony Wednesday. Later this month, the unit will be disassembled, trucked to Cianbro in Brewer, and put back together before the entire upright turbine is hauled down the Penobscot River to a spot off the coast of Castine. VolturnUS will be the first grid-connected floating wind turbine in North America and the first concrete-composite floating turbine in the world, according to Habib Dagher, director of the UMaine Advanced Structures and Composites Center. “The goal is to be the first to do it and to do it right,” Dagher said Wednesday during an event at the university’s Offshore Wind Laboratory at the composites center. The 65-foot-tall turbine prototype is a one-eighth-scale version of the huge 6-megawatt turbines that would create a 5-gigawatt farm 20 miles off Maine’s coastline by 2030. About 170 turbines, each taller than the Washington Monument, would create the 5 gigawatts of energy, which is equivalent to the energy output of five nuclear power plants. Officials estimate that project could bring $20 billion of private investment to the state and create thousands of jobs. During Wednesday’s unveiling ceremony, a large blue tarp was pulled away to reveal a red-and-yellow concrete platform that will support the turbine at sea. The red portion will be the part that rests below the water’s surface. The waters off Castine are an ideal test site because the waves are about one-eighth the height of the waves in the Gulf of Maine, according to Dagher. A crew from Maine Maritime Academy will be responsible for towing the VolturnUS prototype to its post on June 1 and 2. By June 3, it will be hooked up to the grid and providing electricity, Dagher said. “This is a landmark day in the history of the University of Maine,” UMaine President Paul Ferguson said during the ceremony. He called the offshore wind effort a prime example of “remarkable research enterprise” that has given the university global status as a research hub. Some offshore wind energy efforts in Europe, which has been involved in offshore wind since 1991, have struggled, resulting in lofty price tags and high energy costs. Turbines at other offshore wind farms need to have their bases driven into the seafloor, an expensive process. If a turbine needs work, it can be towed back to shore, where repairs will be less costly. The more cost-effective floating wind farm approach should help keep electricity prices down to about 10 cents per kilowatt hour by 2020, which is competitive with other means of electricity production, Dagher said. Prior to that, the energy will be expensive by comparison. The concrete-composite turbine farms are expected to have 100-year life spans, compared to the 20- to 25-year life of current European farms. The first full-scale turbine, which will have blades longer than the wingspan of a Boeing 747, is scheduled to go into the water in 2016. Data collected from sensors on the one-eighth-scale turbine will be used to test the VolturnUS design and determine what changes might be needed in the full-scale version. Representatives of all four Maine congressional delegates congratulated Dagher, the offshore wind team and all the partners in the project. Sen. Susan Collins and Rep. Chellie Pingree recorded statements on video for the event. Collins said the VolturnUS project would “lead to a new era of energy independence and create thousands of good-paying jobs right here in Maine.” The U.S. Department of Energy gave the university a $4 million grant in late 2012 to help fund the installation of a pair of 6-megawatt turbines off Monhegan Island by 2017, creating an operational wind farm called Aqua Ventus I. That award makes the university a finalist for up to $47 million more in coming years. Dagher credited the university’s 140-person offshore wind team for its work on the project, as well as other university staff and roughly 30 corporate partners, ranging from Cianbro to the University of Western Australia, as it moves into its next stages. “None of us here is smarter than all of us,” Dagher said, borrowing a motto used frequently at Cianbro. Cianbro Chairman and CEO Peter Vigue said during Wednesday’s event that the wind project is a “reflection of what Maine people are capable of achieving.”

 

Approval to Build Compressed Natural Gas Loading Station in Bangor

Global Partners LP GLP +2.31% , a FORTUNE 500(R) midstream logistics and marketing company, today announced that its subsidiary, Global CNG LLC ("Global CNG"), has received approval from the Bangor Planning Board to develop and operate a compressed natural gas loading station in Bangor, Maine. When construction of the station at Maine Avenue and Godfrey Boulevard is complete, Global CNG, through an alliance with Bangor Gas Company, will provide large commercial, industrial and municipal customers with firm natural gas supply on a year-round basis. The station is scheduled to be open by the end of August. Global CNG has entered into a multi-year agreement with Bangor Gas, a Gas Natural Inc. company EGAS -0.40% , to provide firm natural gas supply through its system in Bangor. The CNG station will use proprietary compression technology developed by OsComp Systems, Inc. ("OsComp") designed to reduce the energy required to compress and transport natural gas. Global Partners announced in March that it had teamed with OsComp to deliver CNG to customers in New England via truck utilizing OsComp's unique turnkey system, which incorporates specialized trailers and unloaders to create a "virtual" natural gas pipeline.

"First and foremost, our new CNG station is a win for businesses in Maine," said Eric Slifka, the Partnership's President and Chief Executive Officer. "The station will provide our customers with safe, convenient and cost-effective CNG to meet their year-round energy needs. This project leverages our technology relationship with OsComp Systems and our alliance with Bangor Gas to
deliver CNG to manufacturers, hospitals, water treatment facilities, power plants and other large customers or institutions that are not connected to a pipeline. We bring the pipeline to the customer, creating a potential energy savings of up to 30 to 40% or $1 or more per equivalent gallon of delivered fuel oil."

"Our position as one of the region's leading natural gas distribution companies, combined with Global Partners' expertise in energy storage, transportation and marketing, creates a unique
opportunity," said Gregory J. Osborne, Director of Gas Natural Inc. "Customers will benefit from this combined strength, receiving our commitment to provide the highest level of service and a firm
supply of natural gas. The virtual pipeline is an extension of our commitment to the state of Maine and its businesses." "This is a true example of partnership with proven industry leadership combined with new technology to meet the growing customer demand for energy savings," said Pedro Santos, CEO and President of OsComp.

OsComp's CNG virtual pipeline model incorporates its Rapid Fill(TM) compression technology. Rapid Fill enables CNG trailers to be filled in excess of four times faster than conventional filling
systems. Faster turn-around time results in lower costs and thus lower energy prices for the end customer. OsComp has a broad portfolio of patented and patent-pending innovations that will reduce cost and increase efficiency of the trucked CNG system.

About Global Partners LP

A publicly traded master limited partnership, Global Partners LP is a midstream logistics and marketing company. Global is a leader in the logistics of transporting Bakken and Canadian crude oil and other energy products via rail, establishing a 'virtual pipeline' from the mid-continent region of the U.S. and Canada to refiners and other customers on the East and West coasts. Global owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast, and is one of the largest wholesale distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. With a portfolio of approximately 1,000 locations in nine states, the Partnership is also one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores in the Northeast. In addition, the Partnership is a distributor of natural gas. Global is No. 182 in the Fortune 500 list of America's largest corporations. For additional information visit www.globalp.com.

Forward-looking Statements

Some of the information contained in this news release may contain forward-looking statements. Forward-looking statements include, without limitation, any statement that may project, indicate or
imply future results, events, performance or achievements, and may contain the words "may," "believe," "should," "could," "expect," "anticipate," "plan," "intend," "estimate," "continue," "will likely result," or other similar expressions. In addition, any statement made by Global Partners LP's management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects and possible actions by Global Partners LP or its subsidiaries are also forward-looking statements.

Although Global Partners LP believes these forward-looking statements are reasonable as and when made, there may be events in the future that Global Partners LP is not able to predict accurately or control, and there can be no assurance that future developments affecting Global Partners LP's business will be those that it anticipates. For additional information about risks and uncertainties that could cause actual results to differ materially from the expectations Global Partners LP describes in its forward-looking statements, please refer to Global Partners LP's Annual Report on Form 10-K for the year ended December 31,
2012 and subsequent filings the Partnership makes with the Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made. Global Partners LP expressly disclaims any obligation
or undertaking to update forward-looking statements to reflect any change in its expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking
statement is based.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130415005764r1&sid=cmtx4&distro=nx

SOURCE: Global Partners LP

 

Forbes magazine names Bangor, Maine as one of the top 25 places to retire in 2013

Forbes named Bangor to the list for the first time citing its “reasonable cost of living, median home price $127,000, many doctors per capita, above average air quality, good metrics for aging, low crime rate and high level of volunteering. 

 

Bangor is among the 10 Best USA Winter Vacation Destinations

Bangor is one of the 10 best winter vacation destinations in the United States, according to a website that highlights the country’s best places to live and visit.

Livablity.com decided Bangor is the eighth best place in the country to take a winter respite because of its location, less than an hour from a dozen downhill and nordic ski areas, entertainment options and scenery.

“The historic homes and buildings in this cozy New England town tend to captivate visitors, especially when they are covered with fresh fallen snow,” the website states in its post about Bangor. “Streets dating back to the early 19th Century lead to a variety of entertainment options, including live music, bars, theatrical performances, museums and restaurants.”

“Even in cold weather, the Waterfront area along the Penobscot River is a beautiful place to walk, as is the Broadway Historic District, an area filled with homes built by lumber barons of the 1800s,” the website continues.

The website also cites Hollywood Casino, Maine Discovery Museum, snowmobiling options, and the Paul Bunyan statue.

The list recognizes communities that embrace their cold climates and offer residents and visitors plenty of recreation and entertainment options both indoors and outside, according the website.

http://bangordailynews.com/2012/12/03/news/bangor/bangor-is-eighth-best-place-to-visit-during-winter-according-to-website/

 

New Blackstone Initiative Creates One of Its First Innovation Hubs in Bangor Region

The Blackstone Charitable Foundation, the philanthropic arm of the Blackstone private equity group, has started an initiative in Maine to spur economic growth through innovation and entrepreneurship, and has selected the Bangor Region as one of the first two region in the state where it will build an "innovation hub."  The initiative, Blackstone Accelerates Growth, is one of three in the nation that Blackstone has created and seeks to build a dynamic hubs of innovation usually only seen in more urban areas of the country like Boston and Silicon Valley.  The initiative works by accelerating the success of high-potential companies which will serve as role models for future generations of companies; accelerating connections among companies for collaboration and with other resources such as capital and talent; and accelerating the next generation of innovators by providing scholarships and internships to college students who will have the opportunity to work with innovative companies.

http://bangordailynews.com/2012/10/02/business/blackstone-selects-5-maine-companies-to-pioneer-innovation-hubs/?ref=latest

 

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