Our state is at an important crossroad as to what our future economy will develop into and how we will attract younger families to our state. Developing the jobs and workforce we need to sustain and grow it and the communities we serve are important questions for the future.
The most recently released annual Measures of Growth report offers an opportunity for us to evaluate our performance in moving toward the Maine Economic Growth Council’s vision of a high quality of life for all Maine people. The council was created by the Maine Legislature in 1993, and it was charged with developing a long-range plan, goals and benchmarks for a sustainable state economy. Its goal is to provide elected officials and business and community leaders with valuable information to use in long-range policy decisions. Each year, the council carefully evaluates the key high-level indicators and action items for Maine’s economy, seen through the rubric of a vibrant and sustainable economy, dynamic communities and healthy environment.
More than 10 years ago, the 2004 Measures of Growth report tracked Maine’s performance on 58 indicators. Since that time, the council weighed the overall impact of this report and has made a conscious decision to offer a more focused view that includes only the most critical factors affecting the council’s vision.
Every indicator is examined to ensure that it is relevant, meaningful and based in the best available data. Emerging topics are explored to determine if they warrant inclusion. Each indicator looks at trends over time and tells an important story about our current economic performance. Equally important, many indicators look to how well we are setting ourselves up for success in the years ahead.
For policymakers, this provides measures that should be vital in determining how we thoughtfully use our limited resources in areas and in ways that maximize our return on investment. The council hopes the Measures of Growth report can help to guide this effort.
The report now includes 25 separate indicators, but many are closely related and have direct and indirect impacts on each other. Viewed collectively, the indicators offer a comprehensive perspective on Maine’s economy. As one example, fourth-grade reading scores are an indicator of early childhood development and are affected by some factors that are influenced by the decisions we make in elective office. Fourth-grade reading scores and the factors that influence them, in turn, affect outcomes such as educational attainment, employment, earnings, social services and criminal justice, which have important repercussions for the individual and society.
The council’s focus on Maine’s long-term economic growth provides a valuable framework to our actions that extends beyond election cycles. Reaching the benchmarks set by the council requires a collective and sustained effort. A more vibrant, sustainable Maine economy benefits us all. As a small-business owner, as a member of Maine’s legislative leadership and as a co-chair of the Maine Economic Growth Council, I am hopeful this report will help focus our attention and efforts as we seek to achieve a high quality of life for all Maine people.
State Sen. Andre Cushing, R-Newport, represents Senate District 10 and is co-chair of the Maine Economic Growth Council. He is assistant Senate majority leader.