In the business of helping business, Maine’s government can act like, well, a government – by pouring money into popular programs and initiatives that promise plentiful rewards, but suffer from poor accountability and limp auditing.

The state’s Office of Program Evaluation and Government Accountability produced a report in December 2006 detailing the state’s potholed track record in economic development programs. It found millions in funding does flow out, but proven returns on the investment don’t always come back.

Given the fiscal condition in Augusta – serious, but stable – the prospect of sending precious public dollars into a possible programmatic, bureaucratic black hole should strike fear into even the bravest of beancounters.

It is something this state just cannot afford.

This was the natural conclusion to be drawn from OPEGA’s report, some 15 months ago, when the budget shortfall was a faraway stormfront. Now that the inky clouds have descended across the State House, this conclusion must be taken seriously.

If dollars are to be siphoned from education and human services – Maine’s biggest expenses, but also, arguably, its foremost responsibilities – dollars plunked into unaccountable economic initiatives must also face close scrutiny.

Two local members of the Legislature’s Business, Research and Economic Development Committee, Rep. Mike Beaulieu, R-Auburn, and Rep. Mark Samson, D-Lewiston/Auburn, wrote on this page Sunday this OPEGA report is getting close attention from the committee.

They breached the notion of an “economic development portfolio coordinator” to follow and account for the trail of economic development dollars, once they depart Augusta’s bank accounts. Since one of OPEGA’s primary observations was lack of oversight, this position seems quite vital.

Yet awaiting the creation of a new position, a new expense, while the budget demands immediate balancing, is whistling past the fiscal graveyard. The position is for future accountability, but insufficient for pressing concerns.

In the interim, budget-makers must give economic development its attention. There’s evidence of waste.

Maine must make its markets competitive; no argument there. But spending on economic initiatives with loose accountability, as reported by OPEGA, does neither business nor taxpayers any favors.

Economic development is a curious endeavor for government already; it’s an arena, unlike education or welfare, where it has debatable obligations. Its successes can bring great financial benefit to citizens – a needed service.

Many occasions, though, can be cited where economic development efforts tilted an industry’s competitive balance, or promised results to communities it just couldn’t deliver.

This leads to basic questions: How much is too much government involvement in business development? Is the best economic development greased with dollars, or through a friendly, unobtrusive regulatory and taxation environment?

Good queries, given Maine’s lingering anti-business reputation. For now, though, the focus must settle upon the current programs, and what economic development spending remains warranted.

Regardless of what Maine does for business, it must be money well spent.