Latest / The Productivity Podcast with Fexingo: Output, Efficiency, and Long-Term Economic Growth
How a Small Town Rebuilt Its Economy After a Factory Closing
In 2018, the town of Millinocket, Maine lost its last paper mill, the economic engine that had sustained it for over a century. This episode tells the story of how the community, with the help of a local economic development non-profit, pivoted to a high-speed internet infrastructure and remote work hub strategy. We break down the specific numbers: the 40% population decline that had to be reversed, the $15 million in public and private investment in fiber optics, and the resulting 200 new remote workers who moved in by 2025. Lucas and Luna discuss whether this model of turning rural towns…
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