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Economy

For Maine to continue its transition into the 21^st century economy, we must build on the talent and hard work of Maine people and on the natural resources that make our state special. My economic plan and initiatives are based on each element of my vision: investing in people, building infrastructure, focusing on key economic sectors, and creating a fair and stable business environment.

• Maine's Research & Development investments are transforming our economy. We are building on the innovation, hard work and entrepreneurial spirit of Maine people to generate new knowledge, build new companies, transform existing industries and create jobs. Over 500 companies have been assisted through the Maine Technology Institute research activity has tripled in the past decade. Maine's federal research funding, lead by our non-profit research institutions, ranks 22^nd in the country. We have a plan to achieve $1 billion (PDF) in public and private research & development activity in Maine by 2010.

• Our Pine Tree Economic Development Zone program provides incentives to new and expanding businesses, and has grown more than 3,000 jobs.

• We have done much in workforce training, and more people are working in Maine than ever before. We created the Office of Redevelopment, Re-employment and Business Support to address the transition of the Brunswick Naval Air Station. We launched a first-in-the-nation Lifelong Learning Account pilot program to help working adults get back to school while helping employers to develop a skilled workforce to attract and retain businesses. We opened Maine doors to all people without discrimination.

• We created the Maine Community College System which has seen over 40% enrollment growth in three years, linking students and workers to available job opportunities.

• We competed for and won a $15 million Workforce Innovation Regional Development (WIRED) federal grant to support and expand Maine's leadership in the boat building industry with a combination of worker training, education, marketing, and new technologies.

• We created the ConnectME Authority to expand broadband and wireless services into underserved rural areas.

• We invested in the Creative Economy including:
  • Cultural and heritage tourism Downeast and in Maine's mountains. FERMATA, Inc., produced a Strategic Plan for Implementing the Maine Tourism Initiative
  • The Maine Downtown Center and downtown revivals in Bangor, Lewiston-Auburn, Portland, Bath, Calais, and more.
  • The Maine Attraction film incentive program providing opportunities for Maine talent.
• We supported Maine's Natural Resource-Based Industry through:
  • Exemptions from the personal property tax on business equipment and machinery. This was the top recommendation of the 2003 NRBI conference
  • Passage of a $2 million bond to support Maine's working waterfront
  • Establishment of a Food Policy Council to develop local agriculture
• We supported Maine's small businesses, knowing that 96% of Maine's private employers have fewer than 50 employees, and knowing that more than 100,000 Maine people are self-employed. To help small businesses, we:
  • Established a Consumer and Commercial Court to speed up business and other cases.
  • Made it easier for small businesses to bid on state contracts.
  • Created an Office of Small Business and Entrepreneurship dedicated to the needs of small businesses.
  • Created the Maine Regulatory Fairness Board to hear testimony and recommend changes in legislation to support small businesses.

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