Millonocket Maine Sad News

[peakbagger]

The major local employer in the area, Katahdin Papers that provided most of the jobs and paid for most of the regions facilities is closing for good Tuesday, unless some last minute deal occurs. This had happened before during a bankruptcy, but during the last owners tenancy, they removed some assets that made it somewhat viable for a future serious owner. There have been attempts to switch the economy over to tourism for many years, but to date beyond a few locals with motels and maybe a couple of restaurant owners, the jobs created have been seasonal with few benefits.

To the average thruhiker, they probably wont see the difference, but when in the area realize that most folks they meet who arent retired are looking at walking away from their homes and having to relocate.

[DapperD]

The major local employer in the area, Katahdin Papers that provided most of the jobs and paid for most of the regions facilities is closing for good Tuesday, unless some last minute deal occurs. This had happened before during a bankruptcy, but during the last owners tenancy, they removed some assets that made it somewhat viable for a future serious owner. There have been attempts to switch the economy over to tourism for many years, but to date beyond a few locals with motels and maybe a couple of restaurant owners, the jobs created have been seasonal with few benefits.

To the average thruhiker, they probably wont see the difference, but when in the area realize that most folks they meet who arent retired are looking at walking away from their homes and having to relocate.

I don't know how many actual businesses are located in the state of Maine, but obviousely I would imagine the loss of any will be detrimental to the people and the state and will be negatively felt. It is sad to hear more people will be losing their jobs and possibly their ability to reside there. This is happening all over America, businesses closing, factories shuttered and long gone. I don't know if these lost jobs will ever return.

[Shutterbug]

I don't know how many actual businesses are located in the state of Maine, but obviousely I would imagine the loss of any will be detrimental to the people and the state and will be negatively felt. It is sad to hear more people will be losing their jobs and possibly their ability to reside there. This is happening all over America, businesses closing, factories shuttered and long gone. I don't know if these lost jobs will ever return.

The last time I looked, most of the home sales in Millinochet were to people from Boston. They bought them to store their snowmobiles.

Maine deserves part of the blame because they are unfriendly to business, but most of the current problem are a result of U.S. policy.

My own business is having trouble:

federal tax payments for 2008 were 26 times the tax due for 2010.

Federal tax payments for 2009 were 9 times the tax due for 2010.

Next year, I may not pay any taxes at all except for the conversion of my IRA to a Roth IRA.

[bulldog49]

Thank the "Environmentalists" and unions.

[trailangelbronco]

I grew up in Maine and used to work at the old "Statler Tissue" paper mill in Augusta.
Maine was hurtin economically even during the 90's. Has always been that way.
Tourisim is their #1 industry, period. Use to be Shoe mills all over the state, but they all closed by the mid 70's.

Look at it this way. The freeway/turnpikes end in Maine. You have to purposely ship stuff to Maine, there isn't just a truck going thru to another State like most places across the country. Also, the state Govt sucks business's out of Maine with Taxes.
You would not want to open a business in Maine.
They do protect their wildlife and lands very well, though. And that is what most people love about.
I miss Maine, but could never find a way to earn what I want to there.

[TJ aka Teej]

Thank the "Environmentalists" and unions.

The mill in Millinocket has been shut for years, and workers at the East Millinocket mill have been on four day weeks for months. There are no unions involved in Maine's paper industry, and the "environmentalists" in Maine are so weak the AMC and the Nature Conservancy allow clear cutting on lands they own. The Paper companies have lots of problems, bulldog, but not the ones you mentioned.

[WingedMonkey]

Although this is not the fault of unions the mill does have unions.

Meriturn’s other conditions included arrangements to establish a biomass cogeneration facility at the Millinocket mill; contracts with the mills’ labor unions; and relief from any liability associated with an old mill dump in the Dolby section of East Millinocket. Brookfield and Meriturn also sought an agreement by which Meriturn could buy electricity for the mills.

http://new.bangordailynews.com/2011/...investor-says/