In 2022 the PMA collaborated with The Maine Center for Business and Economic Research at The University of Maine (USM) to fully understand the museum’s existing and potential economic impact. The following is a summary of the report. Read the full report here.

Quality of life makes a place worth calling home.

The PMA Blueprint concept designed by LEVER Architecture will create a new hub for Maine’s communities and a landmark for the region, attracting millions of people to downtown Portland and driving the economy.

Recent population growth in Maine is ranked among the fastest in the nation.

From 2020 to 2021 Maine’s population increased by nearly 10,000 or 0.7%, driven in part by an increase in remote work and people seeking locations that allow for work-life balance and access to outdoor recreation. A growing, more diverse, and younger population in Maine is encouraging, as the state has the oldest population in the US by median age (44.7 years) and by percent of the population age 65+ (21.7%). Maine’s aging demographic and resulting labor market conditions are a longstanding challenge for the state that can be positively impacted by continuing to attract new Mainers.

Investments that contribute to and improve quality of life can be more effective economic development tools than traditional strategies such as business tax incentives. Community amenities including recreational opportunities and cultural activities may be larger contributors to a healthy local economy than more narrowly focused “business-friendly” measures. A range of easily accessible open spaces and public gathering spots that promote community connections, restaurants, jobs, and safety have proven to attract—and retain—newcomers to an area to live, work, and play.

A major goal of The PMA Blueprint is to be a catalyst for the economy.

By improving accessibility, inclusivity, and capacity, the PMA will demonstrate that the arts can drive and support Maine’s economic Future.

The PMA stands ready to double its economic impact through jobs, sales, labor income, and more. Here’s how:

Jobs Created & Supported

In 2019, museum & visitor spending supported 309 jobs, of which 220 were direct impacts and another 89 were supported through indirect and induced spending*. In 2027, museum & visitor spending will support 621 jobs, with 426 direct and another 195 through indirect and induced spending.

Labor Income Generated (Millions)

In 2019, $8.7 million in direct labor income which supported an additional $4.2 million in indirect and induced impacts. In 2027, $18.8 million in direct labor income with an additional $9.3 million in indirect and induced impacts.

Output/Sales (Millions)

In 2019, the PMA generated a total of $29.8 million in total output, of which $16M were from the initial direct spending which supported another $13.8M in indirect and induced impacts. In 2027, the PMA will generate $65.3 million in total output, with $35M through initial direct spending and supporting another $30.2M in indirect and induced impacts.

Taxes Generated (Millions)

In 2019, $786,599 in local and $1.1 million in state taxes are estimated to result from the PMA’s ongoing museum operations and by spending of tourists. In 2027, $1.7 million in local and $2.5 million in state taxes are estimated to result from the PMA’s ongoing museum operations and by spending of visitors.

Annual Attendance

The PMA welcomed 170,831 visitors to the museum in 2019. By 2027, the museum anticipates 300,000 annual visitors, 47% coming from out-of-state. Through the project's increases in accessibility, capacity, and exhibitions, an estimated 35% of out-of-state visitors (49,053) are predicted to be museum-specific tourists by the time the new facilities open.

Operating Budget Spending (Millions)

In 2019, approximately 69% of the PMA’s $8M operating budget was spent in Maine on local vendor and supplier businesses and to pay workers’ salaries, wages, and benefits. By 2027, approximately 81% of a larger $15M operating budget will be spent in Maine to purchase goods and services from local vendors/suppliers and pay employees.

Direct Tourism Spending (Millions)

A 120% increase, from $12,582,246 to $28,029,981, is predicted through direct tourism-related expenditures such as purchases of goods and services on meals, hotels, shopping, transportation, etc. from outside of the museum.

Five-Year Construction Impacts in the Maine Economy

USM’s analysis also estimated the economic impact from the capital expenditures on the proposed PMA Blueprint construction project. Between 2023 through 2027, the PMA estimates that it will cumulatively spend $52.1 million to construct the new 60,000 sq ft. building. Including direct, indirect, and induced spending, the total impacts of the PMA’s capital investment on new construction, include an estimated:

  • 66 - 79 construction-related jobs per year

  • $17.4 - $20.8 million in associated labor income

  • $49.5 - $59.4 million in total output (sales)

* Indirect and induced spending are the ripple effects of multiple rounds of spending in the economy. In simple terms, induced spending refers to the impact of increased consumer spending, while indirect spending refers to the impact of increased business investment.