The Maine Economic Development Foundation

As I started out to tell the story of how I became involved in researching Maine's economic development legislation,on the Page titled , The Turning Point, I was stalled by trying to locate the legislation that created The Maine Economic Development Foundation, which is to be found all over the "innovative economy", often stating that it was created by the legislature but falling short of providing a link to that legislation.

I contacted Elaine Apostola, Reference Librarian, at the Maine State Law and Legislative Reference Library. Elaine provided a PDF file of the original text. I then searched for the statute online, was unable to find it with the information that I had and so wrote to Elaine again and she provided. This a link to the statute as it is written today

The first thing that attracts attention is that the original purpose Title 10, Chapter 107: §917 is REPEALED , with no further information about what the original purpose stated, and replaced with Title 10, Chapter 107: §917-A. written in 2007

I cross referenced the PFD docs and located the original purpose, which is here in presented:

§ 917. Purpose
The Maine Development Foundation is authorized and directed to provide services to the State and to quasi-public, public and private entities, and to foster, assist and participate in efforts for economic growth and revitalization, including, but not limited to, providing for or stimulating the provision of:

1. Management and technical assistance. Management and technical assistance to businesses and to communities for economic growth and revitalization, with a particular concern for assistance to the state's existing small and medium size businesses; (emphasis mine)

2. Debt and equity capital. Debt and equity capital, with a particular concern for assistance to the state's small and medium size businesses;

3. New product development and marketing. New product development and marketing, with a particular concern for the most productive use of the state's human and natural resources;

4. Industrial land and buildings. The development of industrial land and buildings;

5. Economic opportunities. Identification and development of specific economic opportunities in the State;

6. Climate for economic development. Promotion of an improved climate for economic development in the State; and

7. Coordination of development efforts. Coordination of development efforts for more successful project development through serving as a broad liaison with diverse groups and parties in all sectors and bringing together needed resources for particular projects.

It is important to note that the original legislation was premised on a forecast in which the role of government would decrease over the years as the role of the private sector increased. - Note added later-This is the way I read first read the sentence- upon re-reading the original statement- I realize that the word "solitary" implies that the state had already assumed in 1997, that it is the role of government to manage the economy, - it is the "solitary" nature of that role that the state forecasts decreasing, as if without a partnership with government, the private sector plays no role in creating the economy. How ever when government partners with selected factions of the private sector to become an expanded management sector- it is not government that is decreased- it is the nature of government that is transformed into special interest policy makers that together manage the economy as an elite privileged class that is granted special access to power and concentrated wealth and of course the tax payer's money.

§ 915. Legislative findings and intent
The State of Maine has long had serious conditions of unemployment, underemployment, low per capital income and resource under utilization which cause substantial hardships to many individuals and families, impede the economic and physical development of various regions of the State, and adversely affect the general welfare and prosperity of the State.

There is a need to establish a new basis for a creative partnership of the private and public sectors for economic development, a partnership which can capitalize on the interests, resources and efforts of each sector, but which does not compromise the public interest or the profit motive. The state's solitary burden to provide for development should lessen through involving the private sector in a leadership role

. ( emphasis mine)

The role of government and its extended network of quasi public corporations and non-profit organizations has grown every year since.

Here is the growing list of government economic management legislation that I have thus far accumulated. All except the Maine Public Employees Retirement Fund (1947) have come into being since the above words were written.