SPECTRUM NEWS • April 24, 2023
Supporters of a $100 million state borrowing proposal told lawmakers Monday that a little help from the state can reap big rewards from federal and private funding sources. One example? The Bigelow Lab for Ocean Sciences in Boothbay used a $25,000 grant to leverage $26 million for development of a seaweed additive to cattle feed, Valerie Young, Bigelow’s chief of staff, said. The feed could be a major help in the global battle against climate change. There are about 20 bills the budget committee will consider this week that propose state borrowing initiatives. Sen. Rick Bennett (R-Oxford) tested that “investing in R&D has been Maine’s most successful economic development tool in the last 24 years.”