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Maine Voters Approve Energy and Economic Development Bond

June 09, 2010

Four bond issues totaling $108.3 million appear headed for passage by voters following the primary election yesterday. Two of those measures are aimed at job creation efforts through capital investments, funding for R&D, and renewable energy measures. The Associated Press has projected the $23.75 million economic development bond as winning with a narrow lead of 51-49. The energy bond is passing with 59 percent of the vote.

With the passage of Question 2, voters will approve $4 million for the Small Enterprise Growth Fund to provide Maine companies and entrepreneurs access to sources of capital and $3 million to be matched with private funds for R&D and commercialization activities administered by the Maine Technology Institute. Small businesses, grants for food processing for fishing, agricultural, dairy and lumbering businesses, and redevelopment projects at the Brunswick Naval Air Station also are funded through the bond.

The energy bond, which totals $26.5 million, includes $11 million for the University of Maine System to develop one or more ocean wind energy demonstration sites. Funds are provided for R&D, product innovation, and robotics equipment to accelerate wind energy components manufacturing in the state.

Unofficial election results reported by the Associated Press are available at: http://hosted.ap.org/dynamic/files/elections/2010/by_county/ME_Question_0608.html?SITE=AP&SECTION=POLITICS