Chamber Updates, Member News

& Tips for Business You Can Use

Dear Members,

Part of our duty is to inform and educate our membership about regulations and policies coming down the pike. Below you'll find a rundown of the Corporate Transparency Act (CTA) and the Maine Retirement Investment Trust (MERIT). CTA affects all small businesses and MERIT affects any business with 5+ employees. With all of the responsibilities sitting on the shoulders of business owners, it's easy to miss policy changes so we're hopeful that this information, and the workshops we organize, help you manage these things.

Huge thank you to the Habitat for Humanity ReStore and Bath Savings Institution for a wonderful Chamber After Hours last night. The networking was electric and the energy was exciting. We had a number of new faces which is always great to see. Thank you to BSI President Glenn Hutchinson for being on-hand to meet everyone and Adam Lacher, Executive Director of Habitat for Humanity, for taking on host duties. 

Not to be overlooked, we saw the incredible items that are a part of the Love to Build Art Auction. The auction closes February 24th, you can bid on a huge variety of items on the event website!

With February After Hours in the books, that means we're looking toward the Annual Awards Dinner on March 8th! The video interviews of the winners are being filmed as we speak - we're so excited to see the finished product from BBRC member Sturdy Production. Cory sent out a newsletter on Tuesday with a ton of details - we hope to see you in a few short weeks to honor our winners!

As promised, information on the CTA and MERIT programs is directly below. We're also covering some things that are a bit more fun - Midcoast Tree Festival final stats, a new member spotlight, an opportunity to raise money for Brunswick-Topsham Land Trust, and information on Winterfest in Bath. It's a great time to be here!

Have a great weekend,

The BBRC Team

The Corporate Transparency Act: What You Need to Know

Courtesy of SCORE

The Corporate Transparency Act (CTA), part of the National Defense Authorization Act for Fiscal Year 2021 and effective from January 1, 2024, introduces essential changes for U.S. small business owners. This law aims to prevent money laundering and other illicit activities by increasing ownership transparency in LLCs, corporations and similar business entities. Individuals exercising substantial control include senior officers and other important decision-makers regardless of actual ownership.

The CTA mandates small business entities to report "beneficial owner" details to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury. Beneficial owners are individuals who own at least 25% of or exercise substantial control over the reporting business entity​​.

SCORE has done a fantastic job of laying out all of the information, including who needs to comply and how that is accomplished, on their website.

MERIT: What You Need to Know

Courtesy of MANP

MERIT, the Maine Retirement Investment Trust, was created by the Maine State Legislature to improve access to retirement savings programs. It is a State Sponsored Roth IRA Retirement Program under which all companies with 5+ employees are required to register, regardless of if they already have retirement plans in place.

There are a few key dates that you should know:

• Employers with 15 or more covered employees need to register or enroll in the program by April 30, 2024.
• Employers with 5 to 14 covered employees need to register or enroll in the program by June 30, 2024.
• Penalties for employer non-compliance begin July 2025.

The Maine Association of Non-profits has a great explainer on their website and we ran a workshop on MERIT last week. We are considering running another one but are gaging interest before scheduling. Email Cory or Anthony if it's of interest to you!

Midcoast Tree Festival Stats!

Oh, the Midcoast Tree Festival was three months ago? Well it's never too late to share these incredible final stats! Thank you once again to all of our participants, sponsors, volunteers, and the hundreds of visitors who helped to make it such a successful event. See you in November!

News & Notes

February 16, 2024

Outdoors to the Max in the MidCoast!

There’s no cure for cabin fever like getting outside to enjoy crisp winter air while taking in the region’s natural beauty. Step outside, and step outside your comfort zone with an adventure such as ice climbing, gravel grinding, or winter trail running — and experience the outdoors to the max!

Whether its rock climbing, gravel grinding, or trail running, there are a plethora of options for anyone looking for outdoor activities this winter!

Travel Midcoast has all the information you need to get started!

Bar Harbor Bank & Trust Recognized by Newsweek as One of “America’s Best Regional Banks”

Bar Harbor, Maine – Bar Harbor Bankshares (NYSE American: BHB), the parent company of Bar Harbor Bank & Trust, is pleased to announce the Bank has been recognized by Newsweek as one of “America’s Best Regional Banks.” The Bank was selected from among approximately 9,400 financial institutions for the honor based on a combination of financial performance and customer satisfaction metrics.

“This recognition from Newsweek is a tremendous honor and especially meaningful as it acknowledges the importance of community banks like Bar Harbor Bank & Trust, our role in local economies, and our understanding of the unique needs of the communities we serve,” said Curtis C. Simard, President and CEO of Bar Harbor Bank & Trust. “We are proud to be a community bank, and we recognize that we are successful when our customers prosper and, just as important, our communities thrive when their residents do. We believe good things happen when we work together, and the recognition from Newsweek is validation that our community-centered approach to banking works.”

To read the rest of the press release, head over to our blog.

March Benefit Ride

Spark Cycling Studio

Sunday, March 3rd

New year, new round of Spark Cycling Studio's Benefit Rides!

First up: Brunswick-Topsham Land Trust on Sunday, March 3rd at 9am with Jack.

As always, class is free with a suggested donation of $20 or more via cash/check/Venmo. ALL DONATIONS go straight to BTLT - we crushed the fundraising for them at Flight Deck in 2022 so let’s do it again! Big thanks to our sponsor, Accel Physical Therapy.

Bikes open on Sunday, February 25th on Spark Cycling's website!

Winterfest 2024

Downtown Bath

It's coming back! The YETI, the lanterns, the parade, the day of fun and it will all be on Saturday February 24th with pre-game events on February 22nd and 23rd! Downtown Sales and Promotions, Winter Activities at City Parks, the magical lantern parade and surprises yet to be told! Check out the official Winterfest website for more information and a full schedule of activities and events!

Free Tax Preparation Available to Qualifying Households: Midcoast CA$H IRS-certified volunteer tax preparers help households put more money back into their pockets and return valuable tax credits to the community.



Midcoast CA$H, an initiative of United Way of Mid Coast Maine, is once again providing free tax preparation by IRS-certified volunteer tax preparers to households earning up to $64,000 annually. Volunteer tax preparers help clients receive every federal and Maine tax credit that they qualify for, such as the Earned Income Tax Credit (EITC) and Childcare Tax Credit (CTC). Midcoast CA$H also offers clients information about local programs that can help save money and increase financial stability, including debt-reduction programs, credit reviews, and match savings accounts.

2024 Cornerstone Memberships

Cory is booking meetings all month long for Cornerstone Membership visits. These businesses are interested in elevating their commitment with the chamber to include sponsorship of the events and programs that the chamber initiates annually.  There are three levels of Cornerstone Membership for 2024, and they include all of your dues (or most of your dues at the third level) for 12 months. 

The top level is the Cornerstone Member level ($5000 annually) which includes:

• 12 months of dues for your main and branch offices
• Industry exclusivity at this level
• Top level marketing package and mentions and chamber events and chamber programs, including: BBRC Awards Dinner, Hacker’s Ball, Chamber After Hours, 12 @ 12, and much more
• Complimentary Tickets to the BBRC Awards Dinner in March
• Cornerstones are limited to 8 industry-specific businesses only (meaning 8 businesses from 8 separate industries)

The second level is the Chamber Partner level ($2000 annually) which includes:

• 12 months of dues for your main and branch offices
• Secondary level marketing package and mentions at chamber events and chamber programs, including: BBRC Awards Dinner, Hacker’s Ball, monthly Chamber After Hours, monthly 12 @ 12, and much more
• Complimentary Tickets to the BBRC Awards Dinner in March
• There is no industry exclusivity or limited amount of spots at this level- we will accept as many businesses who want to join us at this level

The third level is the Chamber Supporter level ($1000 annually) which includes:

• $400 dues voucher towards 12 months of dues
• Tertiary level marketing package and mentions at chamber events and chamber programs, including: BBRC Awards Dinner, Hacker’s Ball, monthly Chamber After Hours, monthly 12 @ 12, and much more
• Complimentary Ticket to the BBRC Awards Dinner in March
• We will accept as many businesses who want to join us at this level

For the full package, see the listing below. E-mail Cory (or call) if you're interested! Even if you’re not sure he can lay out the 2024 plan and talk about how your business or organization may fit a Cornerstone Membership.  

Have a Great Weekend!

Chamber Works Program Updates

With much of our energy going into the MTF, we wanted to again highlight some very exciting news about our workforce programs.

If your business is interested meeting students and showcasing your careers through:

• Work-Study Internships
• Job Shadows
• Career Bus Tours
• In-School Chats

…then we would love for you to take 5 minutes now to sign up. There are two ways to sign up and/or get more information...



If you're ready to register to be considered for either career bus tours or work-study internship programs, please fill out the following forms and e-mail them back to Anthony or Cory.

If you want to get more information on any of the four programs, or you want to sign up for the In School Chats, or Job Shadows program, please fill out this direct contact survey, it won't take more than a couple of minutes.

Brunswick Landing Neighborhood News

We’re thrilled to announce launch of Brunswick Landing Neighborhood News, a new publication of the BBRC focusing on Brunswick Landing events and business updates, news from MRRA, and infrastructure information. It is intended to both highlight things happening on Brunswick Landing, and to share information that is highly-impactful to Brunswick Landing businesses.

Please note that this is a separate newsletter from the weekly Chamber newsletter. If you would like to be included, you must sign up using this link.

Anyone is welcome to sign up however submissions will be limited to BL businesses and BL news with very few exceptions. Feel free to submit anything you think may be relevant but we will be the final arbiters of what is included. That said, your submission could very well end up in our regular Chamber newsletter. 

After Hours, 12 @ 12, & Cornerstone Info

Chamber After Hours hosts get the chance to show off their space to 60-80 attendees and educated them on their organization. While we are fully booked for the remainder of 2023, we're always happy to secure hosts for 2024. More information and application can be found below.

The BBRC News & Notes are generously sponsored by

Our 2023 Cornerstone Banking Member: 

The BBRC News & Notes are generously sponsored by

Our 2023 Cornerstone Commercial Real Estate Member: 

The BBRC News & Notes are generously sponsored by

Our 2023 Cornerstone Residential Real Estate Member: 

The BBRC News & Notes are generously sponsored by

Our 2023 Cornerstone Healthcare Member: 

The BBRC News & Notes are generously sponsored by

Our 2023 Cornerstone Automotive Sales Member: 

Darling's Brunswick Ford