In Case You Missed
It...
Our last newsletter included articles on reducing Maine's tax burden, the Consensus Economic Forecasting Commission, Census workers preparing for the 2010 Census, and Maine's real estate market. If you missed a previous newsletter, archived versions are available on our website. |
Meet the Team
Mike LeVert is the State Economist. Michael manages the Economics and
Demographics team and sits on the State's Revenue Forecasting Committee. His
interests include leveraging Maine's
Quality of Place as an economic development strategy. Michael lives in Cumberland with his wife
Fonda and daughter Robin.
Amanda Rector coordinates
the Census Bureau's State Data Center program in Maine, serves as the
Governor's Liaison to the Census Bureau, and works on special research
projects. Amanda has a BA in economics from Wellesley College and is
pursuing a Master's degree in Public Policy from the Muskie School at
the University of Southern Maine. She is originally from mid-coast
Maine and now lives in Union.
Thomas Merrill is a geographer and computer scientist with an undergraduate degree from the University of Maine at Farmington and pursuing a Master's degree in Regional Economic and Social Development at the University of Massachusetts Lowell. He has previous experience and continuing interest in Asset Development for low-income communities, Geographical Information Science, and database/MIS development. Thomas is a native of central Maine and currently lives in Augusta. | |
Greetings from the Economics and Demographics Team
Welcome to the latest edition of the Economics and Demographics newsletter from the Maine State Planning Office. If you have received a text version and would like to see the full version, please visit our website. Please let us know if you have any comments or suggestions. |
Historic Tax Reform Legislation
Last month, the Governor
signed historic legislation to lower taxes for Maine people and create a more competitive
and stable tax system.
LD
1495, An Act to Implement Tax Relief and Tax Reform, accomplishes several
important goals.
It
lowers state taxes paid by Maine residents by
over $50 million and puts money directly in the hands of Maine people. The average household will pay
$160 less in total taxes per year.
It
reduces the top marginal income tax rate thus encouraging economic development.
It will make Maine
more competitive in attracting and retaining businesses, entrepreneurs, and
individuals to the state.
It broadens the items subject to sales tax reducing the
volatility of state revenues and state-funded programs.
It improves the progressivity of Maine's tax system, easing the tax burden on
lower income families.
And it's revenue neutral - it does not raise any additional
money for the state.
These changes will have a positive impact on Maine's economy as
580,000 families (87%) see a tax decrease. And it will help Maine's economy grow by improving our
reputation as a business-friendly state.
Specifically, this law changes our tax system in several
important ways: -
it
lowers the top income tax rate from 8.5 percent to 6.5 percent for income up to
$250,000; on income greater than 250,000, it lowers the top income tax rate from
8.5 percent to 6.85 percent;
-
it
broadens the sale tax;
-
it
makes a portion of the Earned Income Tax Credit refundable for lower and middle
income families; and
-
it
increases funding for tourism marketing.
For more information, go to http://www.maine.gov/revenue. |
Board to Review Maine's Regulatory Systems
The Economics and Demographics Team provides staff support for the Regulatory Fairness Board, an independent group of business representatives from around the State appointed by the Governor and Legislature. The board's purpose is to hear testimony and report to the Legislature and the Governor on regulatory and statutory changes necessary to enhance the State's business climate. This summer the Regulatory Fairness Board will establish a workplan to review Maine's current regulatory systems and hear testimony from businesses regarding their concerns
about enforcement activities of state departments and agencies. Scheduled for next winter, the board's final report will address improving the efficiency, effectiveness, and consistency of State regulations to ensure Maine's status as a welcoming place for new and expanding businesses. All meetings will be open to the public and advertised on the State Planning Office website calendar of events. More information about the Regulatory Fairness Board can be found at: http://www.maine.gov/spo |
May Retail Sales
The Economics and Demographics Team reports monthly retail
sales information on its website. Timely
information on retail sales provides an up-to-date picture of Maine's economy. Many businesses use it to gauge their market
strength and find new sales opportunities.
Public officials use it to estimate revenues. Economists use it to project income and
employment growth.
Total
taxable retail sales in May 2009 were down 12.3% from May 2008, and 9.2% lower
year-to-date compared to the same period last year. Sales from Food Stores remained positive for
the fifth month of 2009 while sales from all other categories of stores were
negative. May Building Supply sales were
down 19.9% from May 2008 and down 19% year-to-date compared to the same period
last year. Auto Transportation
experienced the steepest drop this May at -20%. Detailed reports on Maine retail sales are available here.
Retail sales data originate in businesses' reports to Maine Revenue Services. | |
|
State Data Center News
Maine's Source for Census Data
|
2008 Town Population Estimates
On July 1, 2009, the U.S. Census Bureau released city and
town population estimates as of July 1, 2008. In Maine, 260 of the state's 533 minor civil
divisions (cities, towns, and unorganized territories) experienced population
growth between 2000 and 2008, while 254 minor civil divisions experienced population decline. Between 2007 and 2008, 164 minor civil divisions grew in population, while 310 decreased. The remaining minor
civil divisions experienced no population change.
The five minor civil divisions experiencing the largest
population growth from 2000 to 2008 were: Scarborough (+2,084), Windham (+1,811), Gorham (+1,422), Saco
(+1,303), and York (+1,210). The five minor civil divisions experiencing the
largest population decline from 2000 to 2008 were Portland
(-1,688), Lewiston (-559), Presque Isle (-466), Old Town
(-421), and Bath
(-381).
In general, population growth has been occurring in coastal
and central towns, while the towns in the rim counties (Washington, Aroostook, Piscataquis,
Somerset, Franklin, and Oxford) have been seeing population decline. From
2000 to 2008, only a third of the towns in the rim counties experienced
population growth. In the coastal counties (York, Cumberland, Lincoln, Knox, Waldo, and
Hancock), 70% of the minor civil divisions had growing or stable populations. The central counties (Androscoggin, Kennebec, and Penobscot) were more evenly balanced, with
61% of the minor civil divisions either gaining population or holding steady.
For more information, please visit: http://www.census.gov/Press-Release/www/releases/ |
|
Census Highlights
-
The Census Bureau is hiring managers and assistant managers
for two additional local census offices in Maine:
Bangor and
Gardiner. For more information, or to apply, please visit www.usajobs.gov.
- The State Planning Office has created a webpage with
information about the 2010 Census and the Maine Complete Count Committee. This
website will provide updated information as Census 2010 preparations progress.
Please visit the website at: http://www.maine.gov/spo/economics/census2010/index.htm
- On June 25, 2009, the U.S. Census Bureau released the
2007 Nonemployer Statistics. The nonemployer statistics are part of the County
Business Patterns and are based on Internal Revenue Services data. Nonemployers
are businesses without paid employees - most are sole proprietorships. In 2007,
Maine had a
total of 118,500 firms that qualified as nonemployers with total receipts of
around $4.85 billion. Construction was the largest sector in Maine, with 22,150 nonemployer firms and
receipts of $1.18 billion. For more information on the Nonemployer Statistics,
please visit: http://www.census.gov/econ/nonemployer/
| |
|
|
|
