No on Question 1, yes on the rest

We are all familiar with the slogan, “Welcome to Maine, the way life should be.” To the residents of Maine, this phrase is more than just a marketing ploy, it speaks to why they choose to live and raise their families here. Maine is a special place with vast natural resources, cultural diversions, a strong university and college system, and a vibrant entrepreneurial community.

These things that make Maine special unfortunately do not maintain themselves. Carefully planned management and most importantly, financial investment are essential to ensure Maine remains a special place. Investment is needed for continued growth in the economy, particularly when considering the sluggish recovery from the last economic recession.

Investment of this nature requires large sums of money – money that is not always immediately available. Timing is crucial. Going without and making investments only as money becomes available decreases the amount of debt the taxpayers must shoulder in the short-term. However, putting off items like infrastructure repairs may end up costing the state, and taxpayers, even more as conditions worsen and markets change.

The state exists and competes with other entities in an open market for materials, finite resources and limited investment dollars. Discretion may be the better part of valor when investing public dollars but hesitation may also prove costly.

There is a concern that fiscally Maine is not in a position to acquire additional debt. The reality is that the governor and the Legislature made considerable budget cuts, instituted spending caps and retired more debt between 2000 and 2004 than taken on.

In September, the Maine General Obligation Bond rating was Aa3, a very strong credit rating and an indicator to investors that Maine is a stable and solid investment. Borrowing also makes sense from the standpoint of a leveraging tool. The total bond request is for $83 million this year. The passage of the entire bond package brings a match of at least $240 million in additional funds. For every $1 Maine borrows, nearly $3 is received in additional assistance. Voters must remember that these are competitive funds and if Maine delays there is no guaranteeing that the matching funds will be available in the future.

On Nov. 8, Maine voters will be asked to weigh in on seven questions. Questions 2 through 6 are bond requests. Question 2 is a transportation bond that asks to borrow $33.1 million, with a $158 million match, for improvements to highways, bridges, airports, public transportation, state-owned ferries, port facilities, harbors and pedestrian walkways and bike trails. Question 3 is an environmental and agricultural bond that asks to borrow $8.9 million as a match for $31 million in federal funds to develop and protect clean water supplies in Maine communities and improve water treatment plants around the state. Question 4 is an economic development bond that asks to borrow $20 million, with a $44 million match, to support research, small businesses, work force development and cultural amenities in Maine.

Question 5 is a conservation bond that asks to borrow $12 million, with a $7 million match, for land acquisition to support environmental and agricultural conservation, water access to support water-based industry and protect the future of outdoor recreational activities, like fishing and hunting, in Maine. Question 6 is an educational bond that asks to borrow $9 million for building renovations for Maine’s university and community college system and to expand the Osher Lifelong Learning Institute at the University of Southern Maine.

Questions 1 and 7 are not bond requests but are critical in terms of investing in Maine. Question 1 asks voters if they would like to repeal protections granted to all Mainers against discrimination based on their sexual orientation. These are existing protections that give all Mainers equal rights, and their repeal sends a clear message to people and investors that not all are welcome to the state.

Question 7 asks for a constitutional amendment that would assess the value of waterfront property, used for commercial fishing, based on its use. The skyrocketing prices for residential coastal property, and the high taxes that accompany them, threaten traditional fishing operations and a piece of Maine’s heritage.

Fiscal responsibility requires proactive investment that will help all in Maine grow while strengthening our quality of life. Doing nothing is not fiscally responsible and is more costly in the long run. Borrowing money to invest in Maine now, will pay off tenfold in the future. Enacting laws that protect all of our residents and our state heritage is essential for a bright future.

If we truly subscribe to the ideal of “Maine, the way life should be,” then we should certainly support any investment that ensures it is the way life remains. Vote no on 1 and yes on the rest on Nov. 8.

Ed Cervone is a policy analyst with the Maine Center for Economic Policy and the author of “State of Working Maine 2005.”