Wise investment forms the foundation for future growth.

That’s why we urge voters to approve four bond issues totaling $108 million for public works on the June 8 primary ballot.

We understand the desire of fiscal conservatives to rein in state spending, but that needs to be done on the operating side of the state budget.

And, indeed, austerity has been forced upon the state in recent years by the recession and public resistance to higher taxes.

In 2002, the state of Maine had 14,724 employees. With the 2011 budget, it is projected to have about 1,000 fewer, 13,741.

In 2001, the state had a $2.65 billion budget. In 2011, it will be $2.69 billion.

Those savings were achieved by a true bipartisan effort in the Legislature in response to a crisis.

Unfortunately, the decision to go ahead with a bond package divided the Legislature along political lines.

Democrats wanted a larger package; Republicans warned that borrowing more money would make future budget cuts deeper and more painful.

We understand their concern, but voters should consider five things:

First, the $108 million in borrowing will draw down about $98 million in federal dollars. If Maine does not go forward with these projects, it forfeits the federal match.

Second, the state was recently able to obtain a 2.2 percent interest rate on another bond offering. Rates are at rock bottom, making borrowing far less expensive.

Third, Maine is retiring $176 million in debt in this biennium. Even when combined with previously authorized debt waiting to be issued, Maine will be retiring $10 million more debt than it is issuing.

Fourth, Maine is 28th among states for debt as a percentage of personal income, and we are 33rd in debt per capita, $743 per person compared to the national average of $865.

Finally, the money will generate thousands of construction jobs in Maine, putting people to work building lasting improvements.

But the real reason to vote for the four bond proposals is what they will accomplish.

The plan includes $5 million for rail in and around Lewiston-Auburn. About $3 million would be used to enlarge Auburn’s intermodal transportation center to relieve congestion related to growth.

About $2 million would be used by the state to buy the rail track between Yarmouth and Danville Junction that is critical to the future of passenger and freight rail traffic between Portland and Montreal.

There is also $740,000 in the bond package for Central Maine Community College in Auburn to do energy conservation renovations. That is an investment that will pay for itself as the years go by.

There is $47.8 million in the proposal for highways, ports, harbors and railroads, as well as $8 million for redevelopment of the Brunswick Naval Air Station.

The closure of the Naval Air Station will have an economic impact on our entire region, including Lisbon Falls, Lisbon and Lewiston. We all have an interest in seeing the base redeveloped as quickly as possible.

On June 8, Mainers should vote “yes” on the four bond questions to invest in Maine’s future.

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