Maine news, sports, weather | Kennebec Journal, Augusta, Maine

MAINE COMPASS: Maine lawmakers lay groundwork for economic development

With a stuttering state and national economy, lawmakers and business leaders alike are working hard to get our economy moving again. While some of the impact of the recession has subsided nationally, Maine families and businesses are still feeling the pinch and may be for a while, as experts have predicted a slow and uneven recovery.

As the state representative from Unity and the director of an organization that works closely with Maine’s farmers, I routinely hear concerns and frustrations from Maine people and businesses. 

Whether you are a farmer in Fort Kent or boat builder in Boothbay, certain economic realities hold true. For instance, your profit margin is tied to the cost of oil. Your ability to do business depends on the state’s roads, bridges and trains. And your bottom line will improve with certain tax policies.

That’s why lawmakers in Augusta have invested in economic development strategies that address these concerns, from passing laws that help us invest in a long-term alternative energy industry and expand tax exemptions, to passing a bond package that will create 2,000 jobs in the short-term and boost our tourism and transportation sectors.

 

Investing in energy

 

The Legislature created the Efficiency Maine Trust to serve as a one-stop shop to oversee funding and incentive programs to help Mainers conserve and weatherize.

Funds through the trust have allowed more than 1,000 businesses, including Hannaford Supermarkets and Reny’s Department Store, to become more efficient, reduce costs and become more competitive.

According to data from the trust, Efficiency Maine programs have in recent years created nearly three dollars in economic benefit for every dollar spent on energy efficiency. Those dollars can be used to create jobs and grow our economy. 

We also set a course to build a promising energy efficiency and green energy industry for our state. Wind, tidal and biomass power businesses are creating new jobs, both directly and in broader ways, such as by creating opportunities to build components for wind turbines.

In Eastport, the tidal power company Ocean Renewable Power made headlines across the state this month as its 60-kilowatt turbine-generator successfully produced grid-compatible electricity. That’s a real indicator for future energy generation.

The company plans to install a 150-kilowatt system next year in the waters off Eastport. It will be connected to the Bangor Hydro grid and could provide electricity for many local homes, according to company officials.

While generating energy, the company also generated local jobs. Ocean Renewable Power has created more than 70 jobs in eight Maine communities, pouring more than $5 million into the local economy over the last five years, and it expects to produce hundreds more in the next 10 years.

The investment in long- and short-term energy alternatives is already helping businesses and families lower costs, while also opening up new opportunities for jobs.



Boosting Maine businesses

and attracting new ones

 

At the same time, the Legislature has not turned our back on our traditional industries. We enacted laws that will help to bring lobster processing to the state. Rather than send lobster out of state, Maine businesses and lobstermen can benefit from the ability to create products here at home.

We also passed legislation that has helped stabilize Maine dairy farms. At a time of historically low federal milk prices, the Legislature restructured our stabilization program to help our farms when many dairy farms in other states are going out of business.

The 124th Legislature also expanded the successful economic development program known as Pine Tree Zones, so that the benefits occur statewide, not just in targeted regions. The program offers significant tax breaks and other incentives to companies that choose to grow in Maine.

According to the Maine Department of Economic Development, the program has helped to create 8,194 jobs for 306 Maine businesses during the past six years. From Belfast to Biddeford, companies in diverse business sectors have added or will add jobs as a direct result of the Pine Tree Zone program.

The significant bond package, which was approved by voters this June, is already putting people to work to make much-needed improvements to our roads, rails and ports. Ensuring that these vital links are maintained is key to growing existing businesses and attracting new ones.

Lawmakers have worked hard to build a thoughtful and strategic plan for economic development in our state. While we have much more work to do, we’ve begun to lay the groundwork for our state to emerge stronger from this recession.

 

House Majority Leader John Piotti, D-Unity, is also executive director of the Maine Farmland Trust, the state’s only statewide land trust focused on farmland.

click image to enlarge

Select images available for purchase in the
Maine Today Photo Store