Building a Resilient Economy, One Business at a Time
Our Katahdin has chosen two areas of focus in economic development. The first area of focus is to promote three industries where the Katahdin region has comparative advantage:
The Forest Economy: utilize our unrivaled wood basket to produce high-value forest products
The Recreation Economy: invite everyone to come enjoy our four seasons of outdoor recreation
The Digital Economy: leverage our climate, available industrial space and low cost-of-living while providing a perfect “work anywhere” lifestyle for working professionals who love the outdoors
These industries can thrive in our region and we have the assets to support them:
The second area of focus is commercial property redevelopment along the Main Street of Millinocket. Evidence shows that economic development in rural areas has been most effective when started in a downtown area, then built out. Our Katahdin is in currently in exploratory discussions with property owners, the town of Millinocket, brownfields authorities and other key stakeholders to determine its role in helping to deal with the blight and lower than desired commercial occupancy of the downtown area in Millinocket. We expect to launch a new financing mechanism soon. Stay tuned!