BETHEL — Gov. Angus King joined his counterparts from Vermont and New Hampshire at a popular ski resort Thursday for a brainstorming session on how northern New England’s economy can get ready for the 21st century.
“I think there’s a tremendous potential to make this one of the most exciting and prosperous regions of the country,” King said during an “economic round table” organized by bankers from the three states. “All the pieces are here.”
King, Vermont Gov. Howard Dean and New Hampshire Gov. Jeanne Shaheen all agreed globalization of trade made it more important than ever that their states work more closely to form an economic and political bloc of about 3 million people.
“I think too often our interests have been parochial, and they have prohibited us from having a broader vision of where we need to go in the future,” said Shaheen, who started work only a couple of weeks ago.
The governors suggested that the university systems in the three states could work more closely together on research.
Attracting high-tech industries, improving education and cultivating more entrepreneurs were some of the themes at the Sunday River Ski Resort.
One person held up as an example of the type of businessman the region needs more of was 47-year-old Leslie Otten, who said he took a $230,000 loan and turned it into the nation’s second-largest skiing empire, American Skiing Co., which owns Sunday River and a host of other resorts in the three states.
“We should grow entrepreneurs and feed them to the world,” Otten told about 100 bankers at the conference.
Otten suggested the creation of a bank that would focus on helping entrepreneurs get started. It would be funded by tax-free bonds issued by the three states, he said.
Another of Otten’s recommendations was building a high-speed railroad linking Portland and Burlington, Vermont. Dean suggested the line go as far as Saint John, New Brunswick.
All the governors agreed the lack of a major east-west highway linking their states was an economic obstacle.
“I think the rail idea is a great one because it doesn’t have the environmental problems that building a highway does,” Dean said.
The Vermont governor also said northern New England has the potential to be a key import-export area, and it also should consider strengthening ties with the Canadian Atlantic provinces.
Dean also pointed out one potential problem with trying to economically unify the region: the different tax structures. Maine has one of the highest tax burdens in the country, while New Hampshire has one of the lowest.
Power costs in the area also are among the nation’s highest.
Still, the governors expressed optimism they could overcome their problems if they worked together.
“I would like to see northern New England become known as the place to go if you want to start a business,” King said.
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