Invest in Maine’s future and ask Question 2 in November

As Mainers, we pride ourselves on our resilience and unique entrepreneurial spirit; we also recognize that successful innovation takes time and resources. This November, we encourage Mainers to strengthen their commitment to the growth and prosperity of our state by voting “yes” on Question 2 for a $25 million bond that will leverage at least an additional $25 million in private funds for research, development, and commercialization.

This investment is not just a financial commitment. We believe it is a key step towards promoting innovation, supporting sustainable growth and ensuring economic prosperity for generations.

At FocusMaine, we work with partners across the state to create and implement programs that help grow businesses and create jobs in Maine’s food and bioeconomy—that is, agriculture, aquaculture, value-added food businesses, and life sciences.

Maine’s food economy is a cornerstone of our state’s heritage and future. From our vast coastline to our farmlands, aquaculture and agriculture entrepreneurs are driving innovation and creating sustainable practices. Take, for example, advances in kelp farming. The practice provides a nutritious source of food, jobs and income, including for off-season fishermen, while sequestering carbon and improving Maine’s water quality. On land, precision agriculture techniques are increasing yields and reducing environmental impacts. These innovations not only strengthen our local food systems, but also create jobs, products and new markets.

Incredible work is also being done in the life sciences sector to address real-world challenges in health care and the environment. We’re proud to say that some Maine research institutions and life sciences companies are contributing to world-class science and innovation. Others are emerging as players. One emerging company has developed biomedical research products from the blood of farmed salmon; others are developing food packaging made from renewable and compostable materials. But there’s so much more that can be done.

Maine entrepreneurs and research institutions are hungry for investment to unleash their ingenuity and develop products that contribute to resilience, sustainability, and health, positioning Maine as a significant player in the global life sciences ecosystem. This sector is growing in Maine and, according to the Bioscience Association of Maine’s 2022 State of the Industry report, supports nearly 10,000 jobs with an average annual income of nearly $110,000. By investing in research and development through these bonds, we can accelerate this progress, increase the number of high-quality jobs for Maine residents, attract new talent, and position Maine as a leader in innovation.

Maine ranks 44th out of the 50 states in R&D spending. While we are currently experiencing momentum across sectors, that momentum is not sustainable without strategic investment. Meanwhile, neighboring states are investing heavily in science and innovation, with the recent $45 million investment to create the Rhode Island Life Sciences Hub being just one example.

Maine lawmakers recognized Maine’s research and development spending deficit when they passed LD 416, a bill to place a $25 million bond issue on the Nov. 5 ballot. If approved by voters, the funding would serve as a catalyst, providing the financial support needed to fuel research, development and commercialization efforts. Maine-based companies and research institutions would be eligible to participate in a competitive grant process administered by the Maine Technology Institute that would match public dollars one-for-one with private investment.

The last time voters had an opportunity to support an R&D bond was in 2017, with $45 million. We have seen the positive economic impact of this investment. According to Governor Mills’ administration, the 2017 bonds generated $1.4 billion in economic impact across Maine and leveraged more than $224 million in matching private sector investment. In addition, these R&D bonds have created 1,770 direct new jobs and about twice as many indirect and induced jobs. Once again, voters have an opportunity to support an investment that will promote innovation, help create sustainable career paths, and provide economic stability.

On November 5, let’s come together and invest in Maine’s future by voting yes on Question 2, a $25 million research, development, and commercialization bond. Our state’s prosperity depends on it.

Copy link to story

” Previous

Next ”