Pete Vigue's "Transforming Maine" Initiative

Cianbro Chairman and CEO Peter Vigue is setting the groundwork for debate over a Legislative bill that he hopes will become the blueprint for Maine's economic prosperity well into the century. The proposal is called LD 955, An Act to Transform Maine's Economy. It is receiving early backing from key lawmakers on both sides of the aisle, including Senate President Libby Mitchell and House Minority Leader Josh Tardy. Governor John Baldacci has included portions of Vigue's plan in a vision for Maine's future.

The plan involves hundreds of millions of dollars in investments to upgrade Maine's capabilities in six key areas: home and business weatherization, energy supplies, business climate, food security, healthcare, and transportation. The funding to pay for the upgrades would come from new ways to leverage Maine's current assets. One example:  the rights of way along the state's roadways, particularly Interstate 95, could be used as energy corridors to transport electricity, natural gas, and other commodities. The idea eliminates the need for utility companies to expend millions of dollars in siting new energy corridors, taking land by eminent domain, collecting permits, and clear cutting the new corridors. Vigue says utility companies are willing to pay millions of dollars to lease existing rights of way from the state.  The funding could then be invested in the state across the six key issues. 


Heating Security
Convert Maine’s Heating & Cooling needs to electricity, install heat pumps, geothermal systems, and weatherize all homes within 20 yrs.
More...
Energy Security
Install 5 GW in Offshore Wind capacity in Gulf of Maine by 2020.
More...
Business & Investment Attraction
Establish business attraction & investment programs.
More...
Food Security
Develop locally grown & produced foods to mitigate rising costs due to fuel, transportation and demand.
More...
Healthiest State
Create virtual medical school. Maine will become a laboratory for improved health and wellness in the United States.
More...
Better Transportation
Extend I-95 to Maine’s Northern Border; announce support of East West Highway & Utility Corridor.
More...

 

  
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1/18/2012 – Pete Vigue to Speak at AGC Annual Meeting: South Portland, Maine

  
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Overview  
 
GOAL
Convert Maine’s Heating & Cooling needs to electricity, install heat pumps, geothermal systems, and weatherize all homes within 20 yrs.

OUTCOMES
Provide interest-free revolving loans, managed by power companies, paid back on monthly energy bills using energy cost savings. 

Creates jobs & reduces carbon emissions.


 

Breaking a Maine Family Budget


 

Maine's Heating Emergency  
  • 80% Maine households use heating oil 
  • Heating oil costs follow the cost of crude
  • Next winter’s heating oil: $5/gallon? 
  • Maine family heating costs next winter: $5,000? 
  • In 2020, projected family heating costs: $10,000 (’08 dollars)


 

Heating Security  

State will invest $500 million to establish an interest-free, revolving loan fund for:

  • Residential conversion of heat to electricity using air-air heat pumps or geothermal heat pumps. Accomplish conversion within 10-20 years.
  • Weatherization projects
  • Loans will be Managed by power companies, paid back on monthly energy bill using energy cost savings.
  • Will create construction boom, and accelerate the development the heat pump and geothermal energy industries in the state.
Overview  

GOAL
Install 5 GW in Offshore Wind capacity in Gulf of Maine by 2020.

OUTCOMES
Make UM world R&D leader in offshore wind. Deploy demonstration turbines in 3 yrs. Attract $15 Billion in private capital starting in 8th year.

Creates 5,000 to 25,000 new jobs.

 

Energy Security  

1. Gulf of Maine has over 100 GW of offshore wind capacity, nearly 10% of the US electricity potential last year.

  • This dwarfs all renewables in the state (tidal is only 50 MW).
  • It is in deep water, and require floating turbine technologies

2. Goal is to install 5 GW in offshore wind capacity in Gulf of Maine by 2020. One thousand, 5 MW towers.

3. To get there, invest $200 million at UM to design, test and deploy demonstration turbines in 3rd and 5th year. Attract $15 billion in private capital starting in 8th year. Create 5,000 to 25,000 new jobs.

 

Energy Investment in Maine  

Maine Power Reliability Program & Maine Power Connection -$1.2 Billion

Hydro Quebec Connection - Coburn Gore to Eustis – 10 Million

Bangor Hydro/Emera DC Cable to Southern New England - $800 Million

Overview  

GOAL
Establish business attraction & investment programs.

OUTCOMES
Create a revolving loan program for construction financing that includes facilities & equipment.
Create a PILOT program (Payment in Lieu of Taxes)

Creates jobs & Millions in Investment.


 

Business &Investment Attraction  

Invest $300 million to establish a revolving loan program for construction financing.

A 2-year revolving loan will provide 100% financing in new equipment and facilities.

Create a PILOT Program (Payment in Lieu of Taxes) to pay municipal bonds or permanent financing. The Pilot Program will attract major investment and allow investors to secure their plant and equipment at no cost.

The PILOT Program will create thousands of jobs which will expand our economy and expand our tax base.

 

Overview  

GOAL
Develop locally grown & produced foods to mitigate rising costs due to fuel, transportation and demand.

OUTCOMES
Develop R&D programs at UMaine focused on producing food locally, leading to investments in local agriculture, aquaculture and farm infrastructure. Become “Bread basket” of the Northeast.

Creates jobs & investments


 

Food Security  

Food costs are rising due to increased demand, fuel and transportation costs. Maine’s close proximity to the Northeast population centers provide significant opportunities for expanding food production. Maine will become the Northeast “foodbasket”.

Invest $200 million in R&D at UMaine focused on growing and producing food locally, leading to investments in local agriculture, aquaculture and marketing infrastructure.

Global Demand for food will continue to increase, which raises concerns for its availability.

Security (availability), safety and quality of food sources will continue to increase as an issue in the years to come.


 

Overview  

GOAL
Create virtual medical school.  Maine will become a laboratory  for improved health  and wellness in the United States.

OUTCOMES
Create world class medical school facilities at UMaine and UNew England.  Develop R&D programs with Jackson Lab, UM, EMMC, ME Medical focused on improving health.  Attract 300M/yr in NIH funding by developing solutions to US Health Issues. 


 

Healthiest State  

1. Invest $300 million to create a virtual medical school so Maine becomes a laboratory for improved health and wellness in the US.

2. The goals are to:

  • Construct world class medical school facilities at UMaine.
  • Develop R&D programs with Jackson Lab, UM, Tufts, Univ. of New England, EMMC, Univ. of Vermont and others focused on Maine Health issues.
  • Attract $300/yr million in National Institute of Health (NIH) funding by offering Maine as a test bed for improving US health. Maine has a small 1.3 million aging population with acute health and obesity problems, but where innovative statewide health solutions can be relatively easily implemented, monitored, and results reported to the rest of the US. This will help create a new industry in Maine supporting research & development focused on improving health.


 

Overview  

GOAL
Extend I-95 to Maine’s Northern Border; announce support of East West Highway & Utility Corridor

OUTCOMES
$100 M in matching funds to extend I-95 to Northern Border & Maine’s rail & mass transportation systems.

East West Highway will attract over $2 Billion in investment.


 

Better Transportation  

Invest $100 million of matching money to extend I-95 to the Northern Maine border and other transportation projects.

Announce the support the East-West Highway & Utility Corridor, a PRIVATELY funded $2 Billion project.

Reactivate Northern Maine’s Rail System, North-South and East-West.


 


© 2014 by Peter Vigue