BATH, Maine — A lack of affordable housing and struggles to increase Maine's labor force remain high priorities according to a newly released report Wednesday.
The 2024 Measures of Growth report is annually released by the nonpartisan Maine Economic Growth Council alongside the Maine Development Foundation, to take the temperature on the state's economy.
The report offers gold stars and red flags to factors hurting or helping Maine's economy. According to the report, advances include improvements in internet connectivity and a stronger transportation sector supported by infrastructure investments. Environmental efforts have also shown success, with protections for forestlands and reductions in greenhouse gas emissions contributing to Maine’s sustainability goals.
"Think about where we were five years ago, ten years ago," Yellow Light Breen of MDF said. “Each percentage point of change on most of these metrics means we have positively impacted the lives of thousands of Maine people."
However, to keep up with economic demands, Maine's workforce will need significant growth. The state's labor force shrunk by 26,000 people in 2020 and is still 6,000 below pre-pandemic levels, according to the report. Declining test scores for some students also raises concerns about long-term workforce readiness.
"We're seeing good workforce participation in prime working ages, above the national average, but we still don't have enough to meet the need we have," Commissioner Heather Johnson of the Maine Department of Economic and Community Development said.
To allow workers to live and thrive in Maine, increasing affordable housing options remains top of mind. Since 2020, the number of households unable to afford a median-priced home has risen from 56% to 79% in 2024.
"For a long time it felt like we were yelling into the void, but its become such a crisis that its affecting all parts of our economy," Amy Cullen said of the Szanton Company. Recently, her team worked to create dozens of affordable units in downtown Bath. However, she admits there's still a long way to go. "It's a lofty goal to build 80,000 units in the next ten years, but we have to try," she explained.
The report will now go before the state legislature. To read the full report, you can visit the MDF website here.