Economic Development

Town Budget 2002-2003


The Local Economy
Veazie's economy is highly integrated with the region's economy. In addition to a number of small employers in the Town, including both retailers and service providers, there are also several large employers.

Veazie has a number of firms that supply products to the construction industry of the central Maine area. These firms include American Concrete Industries, Gagne Precast Concrete, and Lou Silver, Inc.

Because of its central location, Veazie is also home to wholesalers such as Dennis Paper Co., which supplies paper products and food to restaurants and other retailers. R.M. Flagg Co. is another prominent wholesaler in the Town, operating a wholesale restaurant equipment outlet on Route 2.

Major Employers in Veazie, 1994 - 1995
Company Full-Time Employees
American Concrete Industries 60
Gagne Precast Concrete 33
Dennis Paper Company 31
Lou Silver, Inc. 25

Approximately 40 percent of the Town's land base, which measures approximately 4.2 square miles, is currently developed. Of this developed land, almost all of it is served by the Orono-Veazie Water District and the Veazie Sewer District.

 

The Local Labor Market
Over the long-run, the number of Veazie residents employed in the area has grown. However, the number of Veazie residents counted as in the labor force - either employed or looking for work - has grown sometimes at a faster rate. Recent increases in the unemployment rate reflects an expansion in the labor force at a slightly higher rate than the expansion in the number of Veazie residents employed.

  • In 1985, there were 609 persons counted as employed in Veazie. By 1994, this number had grown to 842 persons. This represented a rate of growth of approximately 40 percent.

  • For the State of Maine, where the unemployment rate was consistently higher than the local rate, there were 522,000 persons employed in 1985 and 567,000 persons employed in 1994.

    Labor Force Composition by Occupation, 1990

    Occupation # of Persons Percentage
    Professional Specialty 189 21.4
    Administrative Support, including Clerical 123 13.9
    Service, except Protective & Household 117 13.2
    Executive, Administrative, & Managerial 124 14.0
    Sales 108 12.2
    Precision Production, Craft, & Repair 70 7.9
    Technicians & Related Support 38 4.3
    Machine Operators, Assemblers, & Inspectors 34 3.8
    Handlers, Equipment Cleaners, & Laborers 26 2.9
    Transportation/Material Moving 26 2.9
    Protective Service 19 2.1
    Farming, Forestry, & Fishing 10 1.1
    Total 884 100.00

Source: Maine Department of Labor

  • Most of the residents of Veazie who were employed in 1990 found themselves working either in the service sector or in retail-oriented occupations. This was in keeping with the types of employment found throughout the area as well as across the United States

    The Bangor Area, 1995
    Average Wages of Selected Occupations

    Nurse/RN $19.91
    Electronics Technician $15.71
    Machinist $14.56
    Millwright $12.57
    Tractor Trailer Driver $11.10
    Computer Operator $10.33
    Technical Secretary $9.54
    Assistant Manager, Retail $8.44
    Clerk, Office $8.19
    Retail Salesperson $7.04
    Dishwasher $5.99
    Waitperson $3.29

    Source: Bangor Chamber of Commerce

Retail Trade
The residents of Veazie support a number of smaller retail establishments in the Town. Stores and restaurants, as well as a number of small service establishments, can be found along Main Street and among residences in the neighborhoods of the main thoroughfare. A ten minute drive from the Town is the heart of what is a significant metropolitan shopping area - the Bangor Mall. This area helps define the extensive consumer market that contributes to the bustling retail trade sector in Bangor.

Sales & Marketing magazine estimated that in 1994 retail sales per household were $28,479 in metro Bangor. This was higher than the New England & US Metro averages.

1990 1994 % Change
$2,280,000 $2,370,000 + 3.90 %

 Total retail sales in Veazie grew by 3.9 percent between 1990 and 1994.

 

Population
In 1994, there were an estimated 1,615 persons residing in the Town of Veazie. Between 1980 and 1990, the number of households in the Town grew by 12 percent, from 589 to 659. The size of the average household in 1990 was 2.5 persons.

Population, 1980-1994

Area 1980 1994 Median Age (1990)
Veazie 1,610 1,615 35.6
Metro Bangor 83,919 87,194 31.6
Penobscot County 137,015 146,501 32.5
State of Maine 1,124,660 1,240,280 33.9
  • According to the 1990 Census, 13.6 percent of the residents of Veazie held graduate or professional degrees, while 15.4 percent held associate degrees.