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If I said you got 74 percent, would that be good or bad?
It depends, right? If that was your batting average in baseball, you would be a superhero. As an NFL field goal kicker, you would be statistically average. A report card would say “C.” A hockey goalie for the Black Bears with that save percentage would get benched.
So how’d Maine do?
Last week, the Maine Economic Growth Council released our state report card called the “Measures of Growth.” This was the 29th issue of the report.
They measured 31 specific aspects of our economy, broadly defined. Six areas got “gold stars.” Eight received “red flags.” The rest were somewhere in between.
If you consider the “red flags” as failures, then the Pine Tree State received passing grades on 23 of 31 issues. Or a score of 74 percent.
You have to take the good with the bad. “Gold stars” were issued for air and water quality and sustainable forests, among other areas. Those are foundational parts of our natural resource economy, particularly advanced engineered wood products used to build “plyscrapers.”
Yet, despite the good, you can’t rest on your laurels. The “red flags” identified areas where we need to go to work. They should be the focus as the Legislature returns in January.
Two red flags arise from student performance in fourth grade reading, along with math test averages. The extended “remote learning” experience during COVID has had very real negative effects on children. Even the New York Times’ editorial board acknowledged the school shutdowns may not have been the right policy.
A third red flag is mental health. Nearly 30 percent of young Mainers have issues with depression, anxiety, or learning disabilities. The jump coincides with COVID and the school shutdowns. These issues are complex, and play into other challenges like obesity, drug use, social isolation and violent behavior.
The other five flags are interrelated topics that are ripe for creative solutions. “State and local tax burden” is an overarching one. With record revenues hitting Augusta, there is a unique opportunity to have a real conversation on systemic tax reform. It is time for bold leadership, not mere nibbles along the edges.
That leads into another red flag – “labor force.” There are 25,000 fewer people working today in Maine than there were in 2018. The gold stars on the quality of life in Maine should be a draw for more “boomerangs” – young Mainers who left, then returned – to come home. But bringing skills back only to get whacked by the tax man is not an enticing scenario.
“Housing affordability” is also on the naughty list. It is hard to grow a labor force if people cannot afford to live here. Tax burden plays into this; a dollar taken by Augusta or a town is one that cannot be used to provide for a family. Property taxes can raise rental rates and add to monthly escrow payments for mortgages.
The “cost of energy” metric focuses on industrial energy pricing, but every household feels it. Costs have spiked recently. The public advocate – the governor-appointed, legislatively confirmed voice of consumers – has said that government solar policies will cost Mainers hundreds of millions of dollars annually.
Finally, “research and development” investment is lacking. It is hard to build the next economy if we aren’t trying to improve things. With technologically advanced opportunities in farming, fishing, and forestry, Maine should focus and refine its efforts to find what’s next.
There is both good and bad to be had in Maine’s report card. 74 percent is passing, not excelling. It will take leadership to focus on these core areas in order to drive future growth and prosperity.
Time to get to work, to get Maine to work.
