NOMINATED BY JUSTIN JAMISON, SVP, COMMERCIAL SERVICES OFFICER, KATAHDIN TRUST COMPANY
While people from away might only see Maine as the place to visit the coast and get a lobster roll, Mainers and fellow New Englanders know that our state also has some of the best outdoor activities just a short drive inland. Matt Polstein certainly knew that and built a business out of his passion for Maine’s woods and waters. Matt became a registered Maine Guide in 1981 and established his white-water rafting company in the small town of The Forks along the Kennebec River. Through Matt’s successful management, the company moved downstream to Caratunk and proved to be a huge success, to the point where the Caratunk Post Office needed to expand in order to handle the mail related to his business. By 1995, the business had grown so much that Matt decided to expand and add a second property on Millinocket Lake with cabin rentals and land for recreation.
Over the years, the Millinocket property grew, and Matt decided to sell the original Caratunk business to focus on building a comprehensive outdoor recreation business on Millinocket Lake in the shadow of Mount Katahdin. In 2005, Matt purchased 1,400 acres of land to build a year round activity center, and once that project was completed, he started looking for more opportunities to grow. Unfortunately, by the time New England Outdoor Center was ready to expand again, the 2008 financial crisis had struck, and the expansion had to be put on hold. Just as the local economy was starting to recover, and tourists were coming to experience all the outdoor activities Maine has to offer, the Covid pandemic radically disrupted every business based on tourism. Thankfully, with the help of Katahdin Trust Company, NEOC was able to secure Paycheck Protection Program loans to keep their extensive staff on the payroll and ensure that they could last until the 2021 season.
Now that the disruption of the pandemic has largely ended, Matt has been able to start implementing all of the plans he had put on hold since 2008. With a 7a loan from Katahdin Trust in 2021, New England Outdoor Center added a year-round event center, catering to destination weddings, conventions, and other celebrations in the area. By the end of 2023, NEOC had also added an activity center to facilitate a broader range of outdoor activities, as well as a microbrewery and wood-fired pizzeria to cater to NEOC’s guests. With all of these expansions and the increase in revenue that came with them, NEOC has now become one of the largest employers in the Katahdin region, with 28 year round employees and up to 64 additional part time and seasonal employees in one of the most rural parts of the state.
As a true advocate of his community and region, Matt serves and has served on numerous committees and supports organizations active in Maine’s rural communities. These range from serving on the Millinocket Town Council, to serving on the Board of the recently established Friends of Katahdin Woods and Waters National Monument, Maine Community Foundation, the Allagash Wilderness Waterway Foundation, and the Abbe Museum to name just a few. In recognition of New England Outdoor Center’s incredible success, and Matthew Polstein’s advocacy of the entire Katahdin region’s small businesses, the SBA is proud to name him as Maine’s Small Business Person of the Year for 2024.
