In October of ‘05 Alan Caron of Grow Smart and Gov. Baldacci
look on while Bruce Katz ,from the Brookings Institute, announced their plans to visit
Maine communities gathering information for a major report, which is now being used by the
state.
Maine’s "positive financial operations" and new initiatives
help position state well in global economy
Editorial by Ramona du
Houx
In May Standard and
Poor’s, one of the premier financial rating companies in the world, raised
Maine’s credit score.
Imagine if your credit
rating increased. At the very least you’d breathe a sigh of relief knowing that you
have positively tackled handling your finances.
No doubt there would
have been difficult decisions over the years, and challenges to how best invest
hard-earned savings and manage debts. All families, all businesses want to make the right
decisions for their futures. Balancing finances requires finesse, discipline,
determination and a vision of where you are going. Much is the same with state government
with the right leadership.
Raising Maine’s
credit score is important for the future of economic growth in the state. Companies
looking to invest or expand in the state will have more confidence in Maine when they make
their decisions. A good credit score makes Maine more attractive for business.
"We expect that the
state’s prudent financial and debt management practices will continue to lead to
positive financial operations and a long-term structural budget balance," said the
report’s analyst.
What that means is that
the Baldacci administration, working with the Legislature, has rebuilt the state’s
reserves, controlled budget growth, and lowered debt, all the while continuing to invest
in policies and programs that help the state grow, while supporting the needs of Mainers.
"All the hard work
and tough budget decisions we have made during the past four years are beginning to pay
dividends," said Governor Baldacci. When the governor was elected in 2002, Maine
faced a $1.2 billion budget gap, with no reserves — none. Now the reserves are at
$150 million.
Recognizing the merits
of the Brookings Institution report, which advised the state on how to balance growth,
changing government policies and practices, while maintaining Maine’s quality of
life, Baldacci has taken action. Some recommendations in the report were already under
way; some needed addressing. The budget that just passed incorporated many of those
policies in an overwhelmingly bipartisan way.
In an unprecedented
measure, Speaker of the House Glen Cummings gathered top members of both parties together
for daily morning meetings. No one I’ve talked to remembers any other House Speaker
working in this manner, especially when the House has a wide margin of Democrats.
"It’s the responsibility of leadership to bring everyone together," said
Cummings. "It’s the right way to go about the work of the people. It’s
Maine’s way."
Governor Baldacci
welcomes President Filip Vujanovic of Montenegro to Maine and accepts his invitation to
visit his country
Cummings also put
forward a Home Protection bill which protects homebuyers. The law passed unanimously.
Bringing people together is shaping up to be the way of Speaker Cummings. He also fought
tirelessly to increase funds for higher education.
Sen. President Beth
Edmonds has taken bold measures to ensure the health and wellbeing of every citizens in
Maine, standing up for the most vulnerable in society, defending women’s rights, and
trying to get funds allocated for women who cannot afford abortions. "It’s a
matter of fairness," said Edmonds—which indeed is Maine’s way.
These leaders and their
teams passed a budget that steers the ship of state on a sound course for growth in the
global economy. Other measures are under way.
A Governor’s
Council on Maine’s Quality of Place has been set up and is examining the way land-use
decisions are made and will recommend a plan for protecting, investing in and enhancing
Maine’s distinctive quality of place. At the same time major legislation to help curb
global warming, with Maine as a member of the Regional Gas Initiative, is working its way
through the Legislature. Congressman Allen has cosponsored a landmark climate change bill
in Washington D.C., and Congressman Michaud continues to defend our country’s
veterans, so they can enjoy Maine’s quality of place without unnecessary stress. Over
150,000 veterans choose Maine to live in.
Last May the governor
announced the creation of a tourism sub-cabinet. The tourism industry creates an 11-1
return on dollars invested, and it has potential to grow.
"The tourism industry
affects so many pieces of the public and private sector," said Governor Baldacci.
"It’s Maine’s largest industry and largest economic engine." The
Tourism Cabinet will consist of representatives from ten state agencies that share a major
focus on Maine’s natural resources. "We will begin working as a coordinated team
to help move the industry forward."
DFS Commissioner Becky
Wyke and her team ensured the states bond rating success by passing balanced budget since
the governor was first elected
Frankly, I’m impressed
with the Montenegrin tourism and what they have been able to do. Direct investment in
tourism has quadrupled there in this past year," said Baldacci, accepting an offer
from the president of Montenegro to visit his country. "We’re honored by the
invitation. We’re looking forward to bringing a delegation to build on business,
agricultural, educational, and cultural connections by working on the partnership we
already have. There are already students from Montenegro studying in our schools. We seek
to increase that cooperation and partnership."
Meanwhile a new
partnership between the University of Maine and Bowdoin College will expand educational
degrees for students.
The Council on Jobs,
Innovation, and the Economy developed an action plan for moving the state forward on the
innovation-focused and cluster-development activities. Their specific recommendations for
research and development investments helped formulate a major portion of the bond package
that will go to voters.
Then there is the
continuing community work of the people of Maine — their "Maine Way" that
makes the state such a special place. Some were honored in Augusta. The Maine Democrat
chooses to honor them in print.
Without the people of
Maine, none of this would be possible. In many ways it’s true, we reflect who we
elect.
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