Sen. Pierce celebrates enactment of major R&D bond

The $25 million investment will go to voters for their consideration

AUGUSTA — On Tuesday, the Maine Senate voted 25-7 to enact a bill that would make a major investment in Maine’s research and development industries. LD 416, “An Act to Authorize a General Fund Bond Issue for Research and Development and Commercialization,” would invest $25 million via bonding. The bill received a vote of 116-23 in the House earlier this month. 

Sen. Teresa Pierce, D-Falmouth, who sponsored the bill, issued the following statement:

“Maine needs to invest in our research and development industries, including but certainly not limited to biomedical technology, renewable energy, advanced technologies for forestry and agriculture, and precision manufacturing. Investing in these industries means supporting Maine’s economic potential. I’m incredibly grateful to see this bill receive such strong bipartisan approval in both the Senate and House. I’m eager for voters to get their say on how we’ll invest in Maine’s future.”

The bond will go to voters for their consideration on a statewide ballot.