After a visit to the bustling Pike Place Market in Seattle, a financial adviser for philanthropist Betty Noyce (the late, ex-wife of the Intel microchip founder) suggested that she fund a new public market in Portland, Maine, in order to revitalize the downtown. Noyce went on to finance the $9.4 million Portland Public Market, which opened in 1999 with 23 food vendors. Over the next seven years, farmers lodged complaints about poor access, the market struggled with a high vendor turnover rate, and two high-end restaurants there failed. In 2006, the market closed, after Noyce’s foundation reported annual losses of about $1 million.
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