Maine is smart to leverage federal dollars to boost state infrastructure.

I applaud the Maine Legislature for sending to voters a $60 million bond package that will create thousands of jobs and bring over $130 million in federal funds to our state. This bond will encourage investment in high-tech research and development so critical to the future of Maine’s economy.

I have always believed that an investment in R&D is essential if Maine is to compete in the 21st century global economy.

During my time in the Maine Senate, as Senate chair of the Appropriations Committee and Senate president, I worked with Democrats and Republicans to expand investment in R&D. The University of Maine has leveraged this increased state investment by nearly four times in additional grants and contracts.

We also created the Maine Technology Institute which makes investments in emerging companies and products, and now puts $7 million a year into growing Maine companies.

Since being elected to the U.S. Congress, I have been working actively to ensure that the federal government funds research and development here in Maine.

I supported the doubling of the National Institutes of Health’s budget which brings in millions of dollars each year to assist Maine companies in finding cures for diseases like diabetes and Alzheimer’s. I have also co-sponsored the R&D tax credit that will allow more small businesses to write off investments in technology to help them create high-paying jobs.

This type of federal investment in R&D coupled with targeted tax relief is critical to create jobs for Maine’s future.

Unfortunately, receiving federal funding for the particular infrastructure we need to build labs and invest in machinery is difficult to obtain. This is one area in which Tuesday’s bond shines.

Twenty million dollars of the funds will be directed to a biomedical research fund that will provide money to build facilities that Maine needs. The federal government and private investors alike will recognize our statewide commitment to R&D and will be more willing to direct money to Maine.

This is not a new theory; it is a proven method for increasing investment and creating jobs.

Most importantly, this bond is an example of smart government spending.

Money spent through the biomedical research fund and other R&D initiatives will bring in at least three times as much money through federal and private matching programs. Facilities throughout the state have a track record of being able to leverage these funds and use them to create jobs.

The Jackson Laboratories in Bar Harbor has increased its employment by nearly 100 persons each year for the past five years. These are high-paying jobs with excellent benefits that would have been impossible to create without a state-level investment in facilities.

No one is claiming that this bond will solve all of Maine’s economic problems. There is no question that we need to create a climate in which to do business. We must ensure our businesses are not overtaxed; we must fund education to create a world-class work force; and we must create new jobs to keep our young people in Maine.

However, Tuesday’s bond is an excellent step toward improving our economy and creating jobs.

The R&D bond will create these jobs in a very short amount of time and provide Maine taxpayers with an excellent return on their investment.

U.S. Rep. Michael Michaud represents Maine’s 2nd Congressional District.