On Nov. 8 Maine voters will have the opportunity to support several spending measures ranging from transportation to the purchase of land under the Land for Maine’s Future program. Two such bonds, the State Economic Development and Higher Education bonds, would pump $39 million into a number of development and educational initiatives, many of which are in eastern Maine.

Within the economic development bond, more than half of the funding would focus on research and development, and for good reason. The biomedical research industry has a proven track record of a six to one return on investment; for every state dollar invested, $6 are brought into the state from other sources.

This industry provides stable, well-paid, year-round employment opportunities for citizens who want to live and work in Maine. The average salary in these jobs is more than $44,000, before benefits. Many jobs in biomedical research require only a high school diploma, and educational opportunities and career advancements are readily available in industry.

This bond also focuses money on one of Maine’s greatest natural assets, the ocean. Commercial fishing has long been a mainstay of the economy in Maine, and marine research is another way to put that natural resource to work for our economy and our health. New development of marine research will yield another host of careers for our young people, from marine biology to “maraceuticals,” therapeutic agents derived from marine plant and animal products.

University research and development will also benefit, with funds to support the Laboratory for Surface Science Technology, an area of excellence at the University of Maine at Orono campus. In addition, the development of the new Graduate School of Biomedical Science will offer educational programs preparing students for jobs in this expanding field.

Funding from the bond will also provide for investments in Maine small businesses with potential for high growth, and for the development of a Business and Career Center in Jonesboro. Rounding out use of the bond proceeds is the provision of funding for the New Century Community Program, which will be utilized to invest capital in our cultural assets.

Most of these proposals will draw matching funds from other sources, allowing Maine to more than double its investment with an anticipated $44 million coming to Maine as a result of the state investment.

Within the Higher Education Bond, $9 million would be utilized for repairs and upgrades at Maine’s Community Colleges as well as at five of the state’s public university’s, and will support the construction of a new center for the Osher Lifelong Learning Institute at the University of Southern Maine.

With more students than ever enrolling in our community colleges and public universities, there is a desperate need to upgrade and renovate the existing infrastructure. Necessary repairs to classrooms and laboratories, in addition to improving the energy efficiency of the structures will provide the students with an improved learning environment.

In eastern Maine alone, more than $1.6 million is earmarked in the bond for improvements at Eastern Maine Community College, Washington County Community College and the University of Maine at Machias. From life and safety issues in residence halls to improvements in classrooms, students attending these institutions will gain access to better facilities in which to conduct their learning.

While we all must be conscious of where our state tax dollars go, we also need to ensure that the right investments are being made to secure our economic and educational vitality for the future. Approval of the Economic Development and Higher Education bonds will allow Maine citizens employment opportunities and an educational atmosphere that will promote economic stability for years to come.

Jonathan Daniels is president and CEO of Eastern Maine Development Corp.