Apr9: BONDS WILL SPUR MAINE ECONOMY
Bond Package will spur economy with more than 3,000 jobs
EDITOR:
This week, the Legislature will take our final votes. One important vote will be for the passage of the Bond Package.
I strongly believe that the bond package is critical to stimulating jobs and investing in our future. But most importantly, it is up to the voters of Maine to have a say. I think all voters in the State should be able to decide if we’d like to invest in these projects or not.
There were two very important projects that I am confident will directly benefit Scarborough. First, the deep water berth in Portland Harbor is going to do incredible things for tourism in our area because it will allow larger and more cruise ships into the Greater Portland area – a boom for many local businesses as well as a huge asset to industry as the berth will host more than just cruise ships.
Additionally, the Bond Package features an important investment in dental care around the state and will help to build a new Dental School at the University of New England’s Biddeford Campus.
Still, two important questions needed to be answered before I decided to support the Bonds; Will the bond package actually stimulate jobs in Maine and can we afford to bond?
The economic analysis tells us that it will result in the protection or creation of nearly 3,000 jobs statewide. Additionally, we will likely see a multiplier effect of jobs and growth around key provisions such as the Portland ship berth, the dental school at UNE, and the wind energy fund.
Moreover, the Department of Transportation estimates that failure to maintain the MMA railroad could result in $60 million in road maintenance from wear and tear caused by truck traffic from the re-routing of goods previously shipped by the rail. That is three times the cost of purchasing the railroad, in other words, the purchasing of the Rail line will save taxpayers in road maintenance for years to come.
Second, the Bond Package is, in fact, financially responsible. Maine has a conservative bonding record, strong credit, and track record of quickly repaying debt. In reality, Maine has a low debt burden and pays its debts quickly. More information on Maine’s Bond and Credit ratings can be found on my website at www.seanflaherty.org/Bonds
Whether of not you support these types of investments, don’t you, as a voter, want the opportunity to accept or reject them at the ballot box? Voting in favor in the bonds gives Mainers that opportunity, and I think it’s a good one.
Sean Flaherty
State Representative
District 127 - Scarborough
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