Mainebiz

W W W. M A I N E B I Z . B I Z 21 F E B R UA R Y 8 , 2 0 1 6 MB: Any thoughts on how to increase job oppor- tunities for Maine construction companies? MM: We believe public-private partnerships are a great opportunity to jumpstart some of the pub- lic infrastructure investment we need to make. Looking at the future, if we are going to do some- thing above and beyond the norm in terms of tackling that infrastructure backlog, which typically involves borrowing money to fix things or increas- ing fees, this private-public partnership approach would be another thing you could do. .... Everything should be on the table. Our roads and bridges are deteriorating and we're not going to catch up if we continue on the same path. If you look right now at the three-year work plan, there's $70 million in which we're short. And that doesn't take into account the $100 million they proj- ect they'll have to borrow again to meet their current work plan. So, let's say we're short $150 million annu- ally on transportation and infrastructure funding. ere's only a couple of ways to tackle that: 1.) More of the state budget gets dedicated to it. 2.) Or, we have to increase revenue. And the only way to increase revenue in a very straightforward way, in my opinion, is to increase the gas tax or increase tolls. Now both of those things are red herrings. But evidence shows that we're spending more on repairing damage to our vehicles because of the condition of the roads and bridges than we would spend if we had an increase in the gas tax. James McCarthy, Mainebiz senior writer, can be reached at jmccarthy @ mainebiz.biz and @ JamesMainebiz MEMBER FDIC Let's Make It Happen: 1.888.725.2207 norwaysavingsbank.com Isn't it your business? grow time to You have the strategy. NORWAY SAVINGS HAS YOUR BACK. OUR BUSINESS PRODUCTS • Commercial Lending • Online Banking Services • Checking & Savings Accounts • Money Market Accounts • Remote Deposit Capture • Cash Management Services • Health Savings Accounts Norway Savings Commercial Team Dana Tait, Melissa Babineau, Dan Walsh, Rick Flagg, and Rob Harville Average employment in construction in Maine 1 Private nonresidential construction excludes public sector spending. S O U R C E : Associated General Contractors of Maine Investment in private nonresidential construction 1 in Maine S O U R C E : Maine Department of Labor 20,000 25,000 30,000 35,000 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 $300M $600M $900M $1,200M $1,500M 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003

• Cover