Following our election, we – Rep. Mark Samson, D-Auburn, and Rep. Mike Beaulieu, R-Auburn – were appointed to the Legislature’s Joint Standing Committee on Business, Research and Economic Development (BRED). This is an important committee for us, considering the recent economic growth in Lewiston-Auburn.

L-A is transitioning, as evidenced by surging business development, with more expansion coming. Decisions made by our committee are more than relevant to this change. It is imperative we look at every measure to support greater opportunities and flexibility for economic growth in this region, and throughout the state.

The BRED Committee, one of 17 joint standing committees in the Legislature, has jurisdiction over a wide range of business activities. Our business regulatory responsibilities include automobile and fuel sales, professional and occupational licensing, retail pricing, franchising, advertising, real estate practices, business-related credit and consumer protection. We also oversee the Maine State Housing Authority, affordable housing and homelessness.

In addition, the committee oversees the Finance Authority of Maine (FAME), venture capital, opportunity zones, import competition, research and development, tourism and defense facility conversion, such as planning for the closure of the Naval Air Station Brunswick.

BRED is charged, in short, with improving the economic outlook and the lives of all Maine citizens. More jobs, especially higher-wage jobs, require a better trained workforce. They also translate into higher revenue to the state, which creates the potential for overall tax reduction at every level of government.

Greater job and career opportunities will help keep young people in the state. Maine’s quality of life is unparalleled, and if opportunity exists, our children will stay and benefit from an ever-expanding economic picture.

Those of us who have sadly watched our children leave for a better economic future can understand the tremendous loss we experience from their exit. The decisions we make on the BRED Committee can, and will, have a direct impact on our communities and lead to a better tomorrow for all our citizens.

One of the major functions of the BRED Committee involves budgeting funds for economic development. The committee oversees the Department of Economic and Community Development (DECD) and assists in the direction of funds for economic improvement, expansion, innovation, and research and development.

Although DECD operates with one of the smallest budgets of any state department – less than one percent of total state funds – it arguably has the greatest “bang for the buck” with how these funds are appropriated.

The results have been outstanding, as the Maine International Trade Center, has expanded 33 percent in the past five years, the Maine Office of Tourism reports a nine percent increase in overnight U.S. visitor trips – totaling 9.7 million – resulting in direct expenditures in Maine of $3.1 billion, and the Maine Technology Institute has helped many Maine businesses grow through grants of $100 million over the last five years.

The BRED Committee will assist in the evaluation into how research and development money is spent. Not all programs have had forward-looking returns, making appropriate oversight of state spending in these areas essential. Closer monitoring of economic development will lead to better investment and better returns – the ultimate protection of taxpayer dollars.

Our committee has also held public hearings on the relationship between municipal housing programs and MSHA, and listened to testimony regarding construction regulation and enforcement, both significant to business growth and expansion. And we anticipate analyzing, and eliminating, outdated business regulations to open opportunities for economic expansion, while also continuing and extending essential protections for consumers.

On April 4, the Legislature approved a $295 million bond package by a two-thirds majority vote. More than half of the package is earmarked for infrastructure, including water projects, port improvements, rail enhancements, aviation needs, highways and bridges.

With matching funds, the transportation bond could draw an additional $200 million in federal dollars. In addition, higher education, the environment, and research and development received financial support. While remaining well below Maine’s borrowing capacity, this bond package could reap benefits in future economic advancement. It is now up to the voters to determine whether to fund these programs.

Their first opportunity will come this June.

Although representing different parties,we share a positive outlook for Maine’s promise. We have both enjoyed our short period of service to the Twin Cities, and share the hope our committee and its members can do great things for all of Maine.

We are committed to working together for the benefit and the well-being of our constituents, and look forward to future work on this committee, and view its activities as instrumental for economic progress.

Rep. Mike Beaulieu, R-Auburn, and Rep. Mark Samson, D-Auburn, are serving their first term in the Maine House of Representatives.