Governor Leads Rally for Bonds that Advance Maine's Marine Economy
Governor Leads Rally for Bonds that Advance Maine's Marine Economy
Governor John Baldacci and leading members of Maine's marine research industry joined today to rally in support of bonds that will advance Maine's marine and fishing economy. The event at Portland's Gulf of Maine Research Institute highlighted bonding for $7.5 million of research, development and infrastructure improvements in the vital marine and fishing industry.
"Maine has strong historical, cultural and economic ties to the ocean based on centuries of tradition surrounding the sea," said Governor Baldacci. "In order to sustain those rich traditions and build upon them for the future of the industry and our state's economy, we must make investments that position Maine as a global leader in the ocean-based economy.
"Our 5,500 miles of coastline has enormous potential to increase valuable scientific knowledge, attract new businesses, and expand on tourism-related opportunities - resulting in the creation of new jobs. With a return of more than four to one, our working waterfront has proved a worthwhile investment. Research and development supported by this bond package will help us better understand how to best utilize and protect this vital resource."
The Gulf of Maine Institute is one of 23 marine research institutions in the state that stand to benefit if the bond package is approved by the state's voters on November 8. The 23 institutions combine to form the Maine Marine Research Coalition, a group that is widely in favor of the bond package because of the long-term opportunities that will result from the initial investment.
Of the five bond questions that will be put forth to Maine voters in November, three contain spending for Maine's marine and fishing industry.
The jobs and economic development bond (Question 4) contains $4 million earmarked for marine industry investments. Most monies will go to the Marine Infrastructure and Technology Fund administered by the Maine Technology Institute to match $4 million in federal and private funding for competitive capital infrastructure grants to nonprofit marine research laboratories, institutions and state governmental and quasi-governmental agencies.
The transportation bond proposal (Question 2) includes $1.5 million for the Small Harbor Improvement Program (SHIP). A popular program, SHIP supports the critical commercial fishing and tourism segments of the natural resource based economy by providing a 50-50 match for development of a wide variety of coastal public access/infrastructure projects. Projects that will directly benefit from the proposed bond monies include a bulkhead stabilization project near the Gulf of Maine Research Institute in Portland and the Fort Preble Pier on the Southern Maine Community College campus in South Portland.
Question 5 provides funding for $12 million for the Land for Maine's Future program. Of this amount, $2 million will help establish the Maine Working Waterfront Access Pilot Program to provide protection to strategically significant working waterfront properties used by commercial fishing and aquaculture industries.
In total, the $83 million bond package is expected to yield more than $200 million in matching and leveraged funds from federal and private sources. The Governor said these investments will generate mo
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