The Bangor MSA is growing. As a part of the MSA, Old Town hosts many of the region's new residents. Desirable living conditions are leading Old Town to be one of the fastest growing areas in the Bangor Region. The City's population is expected to increase from 7,862 residents in 2011 to 8,106 residents by 2016.
| Old Town | Bangor MSA | U.S. | |
| 2000 | 8,130 | 144,919 | 281,421,906 |
| 2011 | 7,862 | 154,488 | 310,704,322 |
| 2016 | 8,106 | 157,761 | 321,315,318 |
| # Change Historic | -268 | 9,569 | 29,282,416 |
| % Change Historic | 3.30% | 6.60% | 10.41% |
| # Change Projected | 244 | 3,273 | 10,610,996 |
| % Change Projected | 3.10% | 2.12% | 3.42% |
Source: ESRI Business Analyst
Along with the projected population increase, the number of households in Old Town and the Bangor MSA are projected to grow.
| Old Town | Bangor MSA | U.S. | |
| 2000 | 3,426 | 58,096 | 116,716,292 |
| 2011 | 3,391 | 63,209 | 117,457,661 |
| 2016 | 3,498 | 64,989 | 121,712,803 |
| # Change Historic | -6,817 | -121,305 | -234,173,953 |
| % Change Historic | -1.02% | 8.80% | 0.64% |
| # Change Projected | 107 | 1,780 | 4,255,142 |
| % Change Projected | 3.16% | 2.82% | 3.62% |
| Household Size (2011) | 2.31 | 2.33 | 2.58 |
Source: ESRI Business Analyst
Old Town is a vibrant, youthful community. Over 40% of Old Town's population is between the ages of 20 and 44. With a median age of 33.4 years, our population is younger compared to the Bangor MSA region and the U.S. as a whole and is being driven by its proximity of the University of Maine and a great place for young families.
| Age Cohort | # | % |
| 0-4 | 409 | 5.2% |
| 5-9 | 390 | 5.0% |
| 10-14 | 351 | 4.5% |
| 15-19 | 472 | 6.0% |
| 20-24 | 1,364 | 17.3% |
| 25-34 | 1,087 | 13.8% |
| 35-44 | 829 | 10.5% |
| 45-54 | 975 | 12.4% |
| 55-64 | 890 | 11.3% |
| 65-74 | 535 | 6.8% |
| 75-84 | 415 | 5.3% |
| 85+ | 145 | 1.8% |
| Median Age | 33.4 | |
Source: ESRI Business Analyst
| Age Cohort | Old Town | Bangor MSA | U.S. |
| 0-4 | 5.2% | 5.1% | 6.5% |
| 5-9 | 5.0% | 5.4% | 6.6% |
| 10-14 | 4.5% | 5.5% | 6.7% |
| 15-19 | 6.0% | 7.7% | 7.1% |
| 20-24 | 17.3% | 9.1% | 7.0% |
| 25-34 | 13.8% | 11.5% | 13.4% |
| 35-44 | 10.5% | 12.2% | 13.2% |
| 45-54 | 12.4% | 15.6% | 14.5% |
| 55-64 | 11.3% | 13.3% | 12.0% |
| 65-74 | 6.8% | 7.8% | 7.2% |
| 75-84 | 5.3% | 5.0% | 4.2% |
| 85+ | 1.8% | 1.9% | 1.8% |
| Median Age | 33.4 | 40 | 37.2 |
Source: ESRI Business Analyst
Old Town's median household income is estimated to be $36,126, with a per capita income of $21,458.
| Old Town | Bangor MSA | U.S. | |
| Median Household Income | $36,126 | $40,412 | $50,227 |
| Per Capita Income | $21,458 | $22,883 | $26,883 |
| % Population Below Poverty | 25.30% | 15.70% | 13.80% |
Source: ESRI Business Analyst; Poverty Rates: American Community Survey, 2010 5-year projections.
Old Town has a great manufacturing base. By far, the largest industry sector in Old Town is the manufacturing industry. Despite the overall decline in the manufacturing sector throughout the U.S. as a whole, the manufacturing sector in the City of Old Town grew by 61% from 2001 to 2010 and now represents over 20% of employment. This sector is expected to continue to grow by another 57% by 2021, which is an increase of 455 jobs. Another growing industry in the City is the accommodations and food services industry, which is currently the third largest industry employing about 407 workers in Old Town. This industry grew by 28% from 2001 and is expected to grow by another 17% by 2021.
| 2001 Jobs | 2010 Jobs | Change | % Change | ||
| 31-33 | Manufacturing | 497 | 800 | 303 | 61% |
| 90 | Government | 639 | 651 | 12 | 2% |
| 72 | Accomodation and Food Services | 319 | 407 | 88 | 28% |
| 44-45 | Retail Trade | 403 | 371 | (32) | (8%) |
| 54 | Professional, Scientific and Technical Services | 249 | 239 | (10) | (4%) |
| 81 | Other Services except Public Administration | 230 | 201 | (29) | (13%) |
| 11 | Agriculture, Forestry, Fishing and Hunting | 159 | 171 | 12 | 8% |
| 62 | Healthcare and Social Assistance | 166 | 167 | 1 | 1% |
| 23 | Construction | 167 | 164 | (3) | (2%) |
| 48-49 | Transportation and Warehouseing | 160 | 161 | 1 | 1% |
| 56 | Administrative and Support and Waste Management and Remediation Services | 93 | 109 | 16 | 17% |
| 71 | Arts, Entertainment and Recreation | 73 | 77 | 4 | 5% |
| 22 | Utilities | 110 | 70 | (40) | (36%) |
| 53 | Real Estate and Rental and Leasing | 48 | 60 | 12 | 25% |
| 52 | Finance and Insurance | 53 | 52 | (1) | (2%) |
| 42 | Wholesale Trade | 34 | 28 | (6) | (18%) |
| 55 | Management of Companies and Enterprises | 0 | 0 | 0 | 0% |
| 61 | Educational Services | 0 | 0 | 0 | 0% |
| 21 | Mining Quarrying Oil and Gas Extraction | <10 | <10 | -- | -- |
| 51 | Information | <10 | <10 | -- | -- |
| Total | 3,404 | 3,733 | 329 | 0.1 |
Source: EMSI Complete Employment - 2011.3
| 2010 Jobs | 2021 Jobs | Change | % Change | ||
| 31-33 | Manufacturing | 800 | 1255 | 455 | 57% |
| 90 | Government | 651 | 640 | (11) | (2%) |
| 72 | Accomodation and Food Services | 407 | 477 | 70 | 17% |
| 44-45 | Retail Trade | 371 | 350 | (21) | (6%) |
| 11 | Agriculture, Forestry, Fishing and Hunting | 171 | 189 | 18 | 11% |
| 81 | Other Services except Public Administration | 201 | 188 | (13) | (6%) |
| 23 | Construction | 164 | 170 | 6 | 4% |
| 62 | Healthcare and Social Assistance | 167 | 164 | (3) | (2%) |
| 54 | Professional, Scientific and Technical Services | 239 | 154 | (85) | (36%) |
| 48-49 | Transportation and Warehouseing | 161 | 145 | (16) | (10%) |
| 56 | Administrative and Support and Waste Management and Remediation Services | 109 | 129 | 20 | 18% |
| 71 | Arts, Entertainment and Recreation | 77 | 87 | 10 | 13% |
| 53 | Real Estate and Rental and Leasing | 60 | 68 | 8 | 13% |
| 52 | Finance and Insurance | 52 | 56 | 4 | 8% |
| 42 | Wholesale Trade | 28 | 27 | (1) | (4%) |
| 22 | Utilities | 70 | 17 | (53) | (76%) |
| 55 | Management of Companies and Enterprises | 0 | 0 | 0 | 0 |
| 61 | Educational Services | 0 | 0 | 0 | 0% |
| 21 | Mining Quarrying Oil and Gas Extraction | <10 | <10 | -- | -- |
| 51 | Information | <10 | <10 | -- | -- |
| Total | 3733 | 4120 | 387 | 0.1 |
Source: EMSI Complete Employment - 2011.3
This growth is attributed to the continued success of our locally grown businesses, including:
| Business Name | Local Employees |
| Johnson Outdoors Watercraft (Old Town Canoe) | 250 |
| LaBree's Bakery | 201 |
| Old Town Fuel and Fiber | 200 |
| James W. Sewall & Co. | 150 |
| Saregent Corp. | 150 |
| Cyr Buslines | 100 |
Old Town is part of the vibrant Bangor retail region where Mainers and Canadians alike travel great distances to shop. Additionally, Old Town's location provides access to over 97,900 residents within a 30-minute drive and 189,800 residents within a 60-minute drive.
On average, annual retail sales within a 30-minute drive of Old Town reach $1.4 billion and annual food and drink sales total about $186 million. Every retail industry sector within the 30-minute drive boasts a negative retail gap (demand - supply), meaning that the actual sales in the region exceed the local demand for those goods and services. In other words, many consumers are traveling from outside the 30-minute trade area to make purchases at local businesses.
| 30-Minute Drive Time | 40-Minute Drive Time | 60-Minute Drive Time | |
| Population | 97,970 | 124,118 | 189,859 |
| Median Disposable Income | $35,678 | $35,773 | $34,709 |
| Median Age | 37.2 | 38.2 | 40.3 |
| Annual Retail Sales | $1,419,070,343 | $1,559,847,572 | $2,240,354,053 |
| Annual Food & Drink Sales | $185,739,894 | $194,895,211 | $249,159,923 |
NAICS | Demand | Supply | Retail Gap | |
Industry Group | (Retail Potential) | (Retail Sales) | ||
| 441 | Motor Vehicle & Parts Dealers | $168,179,919 | $382,763,104 | -$214,583,185 |
| 442 | Furniture & Home Furnishings Stores | $22,087,870 | $37,120,182 | -$15,032,312 |
| 4431 | Electronics & Appliance Stores | $19,102,441 | $22,685,100 | -$3,582,659 |
| 444 | Building Materials, Garden Equipment & Supply Stores | $25,071,182 | $50,272,300 | -$25,201,118 |
| 445 | Food & Beverage Stores | $126,816,624 | $197,436,593 | -$70,619,969 |
| 446, 4461 | Health & Personal Care Stores | $30,315,367 | $47,385,275 | -$17,069,908 |
| 447, 4471 | Gasoline Stations | $131,411,102 | $311,345,382 | -$179,934,280 |
| 448 | Clothing & Clothing Accessories | $29,387,775 | $47,923,730 | -$18,535,955 |
| 451 | Sporting Goods, Hobby, Book & Music Stores | $7,118,624 | $18,127,631 | -$11,009,007 |
| 452 | General Merchandise Stores | $106,835,459 | $216,460,788 | -$109,625,330 |
| 453 | Miscellaneous Store Retailers | $8,491,817 | $17,390,705 | -$8,898,888 |
| 454 | Non-Store Retailers | $26,381,275 | $70,159,553 | -$43,778,278 |
| 722 | Food Services & Drinking Places | $114,705,156 | $185,739,894 | -$71,034,737 |
Source: ESRI Business Analyst
NAICS | Demand | Supply | Retail Gap | |
Industry Group | (Retail Potential) | (Retail Sales) | ||
| 441 | Motor Vehicle & Parts Dealers | $324,293,377 | $508,087,892 | $183,794,515 |
| 442 | Furniture & Home Furnishings Stores | $41,754,785 | $57,065,685 | -$15,310,900 |
| 4431 | Electronics & Appliance Stores | $36,433,937 | $29,419,595 | $7,014,342 |
| 444 | Building Materials, Garden Equipment & Supply Stores | $48,903,852 | $94,928,750 | -$46,024,897 |
| 445 | Food & Beverage Stores | $251,276,764 | $382,476,595 | $131,199,831 |
| 446, 4461 | Health & Personal Care Stores | $58,819,438 | $60,146,437 | -$1,326,998 |
| 447, 4471 | Gasoline Stations | $255,706,564 | $579,986,505 | $324,279,941 |
| 448 | Clothing & Clothing Accessories | $54,647,493 | $55,493,143 | -$845,650 |
| 451 | Sporting Goods, Hobby, Book & Music Stores | $13,835,175 | $23,819,618 | -$9,984,442 |
| 452 | General Merchandise Stores | $185,597,994 | $314,826,634 | $129,228,640 |
| 453 | Miscellaneous Store Retailers | $20,001,951 | $31,869,975 | -$11,868,023 |
| 454 | Non-Store Retailers | $47,228,104 | $102,233,226 | -$55,005,122 |
| 722 | Food Services & Drinking Places | $207,486,317 | $249,159,923 | -$41,673,605 |
Source: ESRI Business Analyst
According to ESRI's Business Analyst tapestry segmentation - a tool used to classify consumers living within a community or market trade area by spending preferences - top market segments for the regional consumer market (30-, 40-, and 60-minute drive times from Old Town) generally fall within the following market segments:
Additional information about ESRI's market segmentation analysis can be found at: http://www.esri.com/data/esri_data/tapestry.html.
