WORKFORCE COMMITTEE GETS GO-AHEAD FOR SMALL BUSINESS BOND

Bond will focus on commercialization and job expansion

AUGUSTA—Today, the Legislature’s special workforce committee was directed to develop a bond bill that will focus on “helping Maine businesses…gain access to capital that will lead directly to job creation.”

Senator Dawn Hill and Representative Peggy Rotundo, the chairs of the Appropriations Committee, sent a letter to the Workforce Committee and referred to the need for further investments in small businesses and job creation to bolster Maine’s economic recovery.

“We will be formulating a bond package that encourages, supports, and stimulates Maine’s economy and job growth,” said Senator Linda Valentino of Saco, who also serves as the Senate Chair of the Joint Select Committee on Maine’s Workforce and Economic Future. “To accomplish this, we will provide strong support to help innovators and small businesses commercialize their products and focusing on traditional industries such as marine and agriculture. ”

According to Senator Valentino, the bond will be focused on helping businesses that are prepared to create jobs today.

The Joint Select Committee on Maine’s Workforce and Economic Future has held a series of meetings during the summer and fall focusing on programs with measurable results that will create jobs and leverage private investment.

“Now is the time to invest in our people and our small businesses,” said House Majority Leader Seth Berry of Bowdoinham, the House Chair of the Joint Select Committee on Maine’s Workforce and Economic Future. “This targeted bond package would provide a boost to businesses poised to create jobs in key economic sectors.”

Early next week, the Joint Select Committee on Maine’s Workforce and Economic Future will continue their work and will hear from experts from the University of New England about the need for a marine research vessel, Jackson Lab on a new biometric facility, the agricultural loan fund and lobster processing.

“We are continuing to build on the good work the committee did last session.  Investment in small businesses and in job creation is vital to keeping Maine’s economy moving forward. It is among the most important work we do,” said Assistant Republican Leader Senator Roger Katz of Augusta, who also serves on the workforce committee.

Maine has recovered merely one-third of jobs lost from recession; ranking third from the bottom among worst state growth.

“Targeted support for our small business and industries provides benefits to all Mainers,” said Representative Joyce Maker of Calais, who also serves on the workforce committee.

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