Maine voters overwhelmingly choose Research and Development bonds

  • The official tabulation of votes from the June 13, 2017 Special Referendum Election show that the bond issue was approved overwhemingly by Maine voters.

    The Elections Division has certified the results and Gov. Paul LePage signed the official vote proclamation.

    The certified election results show a total of 63,468 votes in favor of the bond issue, and 39,549 votes in opposition. Voters cast a total of 104,213 ballots in this single-question statewide referendum, with 1,196 blanks.

    Question 1 asked: “Do you favor a $50,000,000 bond issue to provide $45,000,000 in funds for investment in research, development and commercialization in the State to be used for infrastructure, equipment and technology upgrades that enable organizations to gain and hold market share, to increase revenues and to expand employment or preserve jobs for Maine people, to be awarded through a competitive process to Maine-based public and private entities, leveraging other funds in a one-to-one ratio and $5,000,000 in funds to create jobs and economic growth by lending to or investing in small businesses with the potential for significant growth and strong job creation?”

    The funds will support job growth in Maine’s high tech industries, creating good-paying jobs, new products and new services. Mainers will benefit from innovation in biotech, forest products, marine resources and information technologies. New construction projects will create additional jobs for building contractors, tradespeople, equipment suppliers, and professional service providers, increasing economic activity throughout the State.

    The funds will be administered by the Maine Technology Institute (MTI)www.mainetechnology.org and applicants will be selected through an independent, review process to select projects with the greatest potential for return on investment. Applicants are required to match dollar-for-dollar, the amount of the grant award -increasing private sector investments and accountability.

    The Elections Division will post the results online this week at http://maine.gov/sos/cec/elec/results/index.html.

    The legislation will become law 30 days from the date of the official proclamation (July 21, 2017).