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On Feb. 9, Governor John E. Baldacci released the details for his 2006-07 $197 million proposed bond package for the state of Maine. The bond must now be reviewed by the Legislature. Baldacci said if the bond passes it will lead to much-needed investments in job creation, infrastructure, the Land for Maine’s Future program, clean water, the environment and education.
“This bond package will create good-paying jobs with benefits and grow Maine’s economy,” he said. “Today we turn to the future to make investments in strategic sectors, investments in research and development, investments in education, and investments in Maine’s communities.”
The proposed bond package has three focal points: Investments in Maine’s traditional industries such as farming, fishing and forestry; investments in biomedical research and development creating a research triangle connecting hospitals, private research institutes and the University System; and investments aimed at retaining Maine’s youth and taking advantage of the creative economy. Baldacci said these target investments will benefit everyone.
“[They] will keep Maine on the path to becoming a national leader in providing opportunities for all of its citizens,” he said.
Representatives from the University of Maine System met with Governor Baldacci and other bipartisan leadership from around the state to outline the specifics of the bond. University of Maine interim President Robert Kennedy represented the University of Maine. The week following the release of the bond package he has continued to work closely with the governor and other representatives.
Kennedy said that the university requested funds from the bond to be put to use in several categories, including for equipment and helping build new engineering and research buildings, as well as provide funding for the aquaculture facility in Franklin, forestry and marine research and renovations of the Maine Center for the Arts. While the university was not allocated all the money that it requested for its facilities, money was granted in all of the categories that requested funding; $5 million of the requested $34 million was granted.
The largest beneficiary of the proposed bond package will be the medical science graduate school. This is a new graduate initiative that is in conjunction with Jackson Laboratory and Mount Desert Island Biological Laboratory.
“This is the first time in recent history that the state has been funding graduates,” Kennedy said.
This investment is part of the governor’s plan for Maine’s full biotechnology potential to be realized. Baldacci emphasized the importance of research and development investments and the importance of keeping those investments in Maine.
“Companies in Maine that receive benefits from Maine [research and development] investments pay 12 percent more than average Maine Companies and have 23 percent faster increases in employment. Biotechnology jobs pay more than $60,000 per year,” he said.
Keeping those investments in Maine is one of the factors of the bond package.
“Investments will provide further for students to get involved in starting companies and staying in Maine, both at the graduate and undergraduate level,” Kennedy said.
He added that 81 percent of Maine graduates land their first job inside Maine’s borders, dispelling the popular belief that in order for Maine students to find employment they must leave the state’s borders. To ensure that this number stays high, the governor is proposing money for housing investments so that Maine cities are more affordable for Maine’s young people.
Both Governor Baldacci and President Kennedy said this proposed bond package will bring substantial growth in the Maine economy.
“[It will] create or sustain more than 2000 jobs in 2006 alone, with more jobs to come in the future,” Baldacci said.
With the close work of Kennedy and others, the governor can provide the best possible outcome for the bond. University of Maine can expect to see much needed benefits.
The proposed bond package now goes on to the Legislature, where it will be debated further and will go up for a referendum vote in either June or November. The details of the bond package can be found on the state’s Web site, www.maine.gov.
