Economy of Maine

By | March 4, 2023

Maine is the northernmost state in the United States, located in New England, and is known for its rugged coastline, forests, and small towns. The economy of Maine is largely based on natural resources and tourism.

The state’s largest industry is fishing and seafood processing, which contributes $1.5 billion to the state’s economy annually. Maine is known for its lobster catch, which makes up over 80% of the total lobster catch in the United States. Other important fisheries include groundfish such as cod and haddock, scallops, shellfish such as clams and mussels, and marine mammals such as seals.

The forestry industry is also an important part of Maine’s economy. The state has a long history of forestry with large tracts of forestland providing lumber for construction projects throughout the northeast United States. In addition to timber harvesting for lumber production, forest products such as paper products are also produced in Maine.

Tourism plays an important role in Maine’s economy with visitors spending over $5 billion each year on lodging, restaurants, attractions, shopping and other activities related to tourism. This includes visitors to popular destinations like Acadia National Park which draws over 3 million visitors per year. The vibrant arts scene in Portland also attracts tourists from around the world who come to experience galleries and performances by local artists.

Manufacturing also plays a role in Maine’s economy with companies producing electronics components such as semiconductors and printed circuit boards; medical equipment like MRI machines; aircraft parts; ships; paper products; food products; chemicals; clothing; furniture; textiles; leather goods; jewelry; footwear; sporting goods; recreational vehicles (RVs); boats and yachts; plastics products including bottles used for soft drinks or beer cans that are produced there too!

Maine also has a thriving agriculture sector with farms producing dairy products including cheese made from local cows’ milk as well as apples for cider production or maple syrup tapped from maple trees across the state’s many forested areas. Additionally there are cranberry bogs that produce cranberries used for sauce or jams throughout New England states like Massachusetts or Rhode Island where there isn’t much cranberry farming occurring naturally anymore either!

Overall economic growth has been slow but steady since 2000 when it was estimated that gross domestic product (GDP) was around $50 billion earned annually by Mainers according to U-S Census Bureau data released last year – making up just 1% of America’s total GDP at that time (U-S Bureau Economic Analysis). However this past year alone saw GDP grow by 2%, outpacing all other states except Washington DC! This shows that despite some challenges faced by rural communities due to population decline or lack of access to technology/capital resources needed to compete globally – Maine still has plenty going on economically speaking.

Top 3 Counties in Maine

According to, main counties in Maine include:

1. Cumberland County: Located in the southern part of Maine, Cumberland County is the most populous county in the state with a population of over 281,000. The county seat is Portland and it is home to many of Maine’s major cities and towns such as Brunswick, Falmouth, Freeport, Gorham, South Portland and Westbrook. It is bordered by York County to the west and Androscoggin County to the east. The county offers a variety of attractions for visitors including beautiful beaches on Casco Bay, lighthouses along the coast and historic sites like Fort Williams Park. The county also boasts some of Maine’s most popular ski resorts such as Sunday River Ski Resort and Shawnee Peak Ski Area.

2. York County: Located in south-central Maine along the New Hampshire border, York County is home to over 197,000 people making it the second most populous county in Maine. It is bordered by Cumberland County to the north and Oxford County to the west. The county seat is Alfred which serves as a hub for many small towns in York County including Berwick, Biddeford, Buxton, Kittery and Wells. The county also offers an array of outdoor activities like hiking at Mount Agamenticus or exploring Rachel Carson National Wildlife Refuge or Wells Reserve at Laudholm Farm. Additionally, visitors can enjoy some great shopping at Kittery Outlets or some local breweries like Tributary Brewing Company or Shipyard Brewing Company.

3. Penobscot County: Located in northern Maine Penobscot County has a population of over 151,000 people making it third most populous county in Maine after Cumberland and York Counties respectively. Its largest city Bangor serves as its county seat which makes up nearly half of its population alone with around 68 thousand people living there according to 2019 estimates from US Census Bureau. Other cities within Penobscot include Brewer, Hampden, Old Town, Orono, Veazie and Winterport. The area offers abundant outdoor activities including hiking trails around Mount Katahdin, skiing down Hermon Mountain or kayaking down any number of rivers that flow through Penobscot such as Kenduskeag Stream or Penobscot River.

Economy of Maine