Kennebec Regional Development Authority – Your Destination To Go to in The North East of The United States
European Business checks out Maine in the North East and see why it is thriving location in the States , while it makes the most of its location , and its abundant natural resources.
The United States is unique when compared to Canadian and European countries in the delivery of economic development services. In many countries, economic benefits or incentive packages are negotiated at the federal or provincial level. In the United States, the delivery of benefits and incentives is negotiated at the state – but more importantly – local level.
When Investing in the US – Get to Know Your Regional Development Authority
Consequently, companies seeking to expand into North America should identify regional (multi-county) public authorities, like the Kennebec Regional Development Authority (KRDA) in Maine, to advise and assist them in their location decisions. Regional economic development authorities combine the capabilities found in state government in the United States yet have that local touch that is essential for finding the right location. This is the significance of the KRDA for European firms considering expanding into the northeast U.S.
Location, Location, Location
The Kennebec Valley is blessed by its economic geography. It is situated in the heart of the Atlantica region along Maine’s paramount development corridor, equidistant to Portland and Bangor, the state’s largest urban centers. Maine’s transportation (road/rail), communication and energy infrastructure parallel in the Kennebec Valley, resulting in a robust multi-modal corridor served by the I-95 and I-295 highways. Additionally, the Pan Am rail line provides an intermodal facility in the heart of the region where Poland Spring Water trans-ships its product.
This strategic location provides access to the most lucrative markets on the continent, such as the Boston-Washington corridor; the NAFTA corridor along Canada’s heartland; and the multi-modal transportation corridor along the Quebec City – Montreal – Toronto – Windsor axis. The region is also positioned to benefit from newly developed Artic opportunities and the opening of the Northwest Passage. Communications networks line these corridors, providing state of art fiber optic capacity to all markets and established industry agglomerations such as forest products, composite materials products, metal fabrication products, food products, bio-pharma and medical/educational services.
Resources and Culture
Complimenting the region’s economic geography is an abundance of natural resources. The Kennebec Valley’s land use transitions from the coastal urban agglomeration to the Northern forest. The quality and quantity of our water is second to none in the country – a critical factor for process water manufacturing. Additionally, the agricultural forestry segments remain substantial in the region.
Thus, the Kennebec Valley offers a competitive price-point (rents, wages, interest) while providing access to the factors of production (land, labor, capital). Dennis Donovan, with the site location firm Wadley-Donovan-Gottshaw, notes that the Kennebec Valley Region offers a 20% discount in these factors when compared to regions to the south.
Beyond the numbers, the Kennebec Valley is known for its cultural commitment to sustainability and isideal for those firms whose business model and corporate culture embrace “sustainability development.” This commitment it cultivated at Unity College – one of the region’s many higher education institutions. Unity focuses on the imperative of sustainability science, producing transdisciplinary graduates of visionary leaders, problem solvers and stewards of the earth.
Let Us Be Your Guide
The KRDA has the scale necessary to advise and assist expanding companies seeking locations to invest. It is networked – through public and private partners – throughout the Atlantica region. The KRDA offers small-to-emerging enterprises seeking their first phased overseas expansion with technical assistance, from accountancy to visas and everything in between. The KRDA is a multi-functional and multi-capable organization much like the “inward investment agencies” that European firms are familiar with. In short, the KRDA is a one stop shop that can leverage public and private assistance. Let us be your guide.
One for the diary this Spring where “The KRDA will be in Europe this Spring to meet with firms interested in investing in the NorthEast. To arrange an appointment with the KRDA please contact Jason at email@example.com.” or Brad Jackson Executive Director firstname.lastname@example.org