Not to be overly simplistic, but wouldn't the best economic development tool be a markedly reduced tax burden?
Baldacci eyes substantial borrowing
Email to a Friend
Printer Friendly Version
AUGUSTA (AP) -- Gov. John Baldacci, after advancing and winning passage of a belt-tightening biennial budget, is eyeing a significant expansion of state borrowing.Besides a $75-million transportation bond and a $70-million borrowing for a variety of economic development initiatives, Baldacci also has on the table nearly $17 million worth of environmental projects to be financed over the long term. In addition, voters could be asked to authorize a borrowing of more than $13 million for higher education facilities, state parks, the state courts and what are described as cultural improvements. All told, the governor's bond package could exceed $175 million. Baldacci's proposals are expected to be presented to the Legislature's Appropriations Committee next week.