Maine transitions to Innovative Economy

Maine's economy is in the process of transition from one dependent upon natural resources to one dependent upon innovation. The way of life for agriculture, fishing and forestry is changing and has been changing for a generation. Manufacturing is also changing with the commodity production going off-shore. Even in the service sector, the commodity jobs, such as call centers, are being relocated off-shore.

What is left for the U.S. and Maine?

We need to focus on our competitive advantages: innovation, quality, work ethic, and quality of life. We are facing the opportunity to find the balance between good jobs for our citizens and protecting the best Maine has to offer.

Whether it is biotech, aquaculture, precision manufacturing, high-tech composites or advanced forestry and agriculture clusters, Maine's innovative industries are emerging as leaders in the national and international markets.

Governor John E. Baldacci, the state Department of Economic and Community Development and the Office of Innovation are committed to expanding Maine's innovative economy, supporting entrepreneurial enterprises, developing a trained workforce and increasing R&D activity throughout the state.

Click here for top 5 reasons to invest in innovation.

Utilizing support from state resources, the University of Maine system, business incubators, the Maine Technology Institute and private industries, Maine has instituted a Science and Technology Action Plan (Click here for resources) that outlines an aggressive strategy to boost the state's R&D sector to $1 billion per year by 2010 and intensify the state's competitiveness in the global, innovation-driven economy.

R&D activity drives the growth of new technology-based products and services, resulting in higher wage jobs and greater economic prosperity. It is also changing the way traditional industries do business by streamlining production practices and incorporating new technology.

In an international market that is propelled by technology and the ability to compete, Maine is keeping pace with its Yankee ingenuity, its commitment to expand the innovative economy and its reputation as a great place to live and do business.

Catherine S. Renault, Ph.D.
Director
Office of Innovation